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Home Buying Log

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guykara
Frequent Contributor

Home Buying Log

Well, I think it's time I start this thing. I've found a community I want to build in. I'm looking at closing in June, 2015. This works because the community takes ~9 months to build and they'll be able to delay it out a little bit so I can hop into contract in July. I'm super nervous but ready to take this on! So, here's nothing:

DateUpdate
6/15/2014Met with my realtor / the site realtor and came to a final price. $288,000. Going to check out a few other communities to be sure, but this is looking like the one I really want.
6/16/2014Meeting with my loan officer to deliver documents (w2's, tax returns, bank statements, housing/employment verification, paychecks, etc.). Hoping to get my credit ran when I'm there to see what scores he pulls. Looking for pre approval so I can get into contract in July!

Thanks everyone and looking forward to keeping this updated Smiley Happy.



Starting Scores (10/18/2013): EX: 603 | EQ: 572 | TU: 659
5/05/2014 EX: 628 | EQ: 627 | TU: 623
5/25/2014: EX: 628 | EQ: 635 | TU: 623
Current Scores: EX: 670 | EQ: 663 | TU: 681
Goal Scores: 680 across the board


Take the myFICO Fitness Challenge
Message 1 of 33
32 REPLIES 32
StartingOver10
Moderator Emerita

Re: Home Buying Log


@guykara wrote:

Well, I think it's time I start this thing. I've found a community I want to build in. I'm looking at closing in June, 2015. This works because the community takes ~9 months to build and they'll be able to delay it out a little bit so I can hop into contract in July. I'm super nervous but ready to take this on! So, here's nothing:

DateUpdate
6/15/2014Met with my realtor / the site realtor and came to a final price. $288,000. Going to check out a few other communities to be sure, but this is looking like the one I really want.
6/16/2014Meeting with my loan officer to deliver documents (w2's, tax returns, bank statements, housing/employment verification, paychecks, etc.). Hoping to get my credit ran when I'm there to see what scores he pulls. Looking for pre approval so I can get into contract in July!

Thanks everyone and looking forward to keeping this updated Smiley Happy.


Question:  Did you bring your own Realtor or are you dealing with the builders' Realtor? If you are working with the builders Realtor than s/he works for the builder and not for you. If you have your own Realtor, that is a different situation.

 

Good luck in your search. Smiley Happy

Message 2 of 33
guykara
Frequent Contributor

Re: Home Buying Log

Hi!

 

I brought my own realtor Smiley Happy.

 

Thank you!



Starting Scores (10/18/2013): EX: 603 | EQ: 572 | TU: 659
5/05/2014 EX: 628 | EQ: 627 | TU: 623
5/25/2014: EX: 628 | EQ: 635 | TU: 623
Current Scores: EX: 670 | EQ: 663 | TU: 681
Goal Scores: 680 across the board


Take the myFICO Fitness Challenge
Message 3 of 33
guykara
Frequent Contributor

Re: Home Buying Log

Update!

DateUpdate
6/15/2014Met with my realtor / the site realtor and came to a final price. $288,000. Going to check out a few other communities to be sure, but this is looking like the one I really want.
6/16/2014Meeting with my loan officer to deliver documents (w2's, tax returns, bank statements, housing/employment verification, paychecks, etc.). Hoping to get my credit ran when I'm there to see what scores he pulls. Looking for pre approval so I can get into contract in July!
6/16/2014Met with my loan officer, mid score came up as 643. He said he'd have no issues getting me a loan today! I have a few docs I need to get into him, and a few explanation documents to submit as well. He said he'd be ready to send the ok to the builders. Looking like we'll go into contract in July Smiley Happy.


Starting Scores (10/18/2013): EX: 603 | EQ: 572 | TU: 659
5/05/2014 EX: 628 | EQ: 627 | TU: 623
5/25/2014: EX: 628 | EQ: 635 | TU: 623
Current Scores: EX: 670 | EQ: 663 | TU: 681
Goal Scores: 680 across the board


Take the myFICO Fitness Challenge
Message 4 of 33
guykara
Frequent Contributor

Re: Home Buying Log

Another Update!

 

DateUpdate
6/15/2014Met with my realtor / the site realtor and came to a final price. $288,000. Going to check out a few other communities to be sure, but this is looking like the one I really want.
6/16/2014Meeting with my loan officer to deliver documents (w2's, tax returns, bank statements, housing/employment verification, paychecks, etc.). Hoping to get my credit ran when I'm there to see what scores he pulls. Looking for pre approval so I can get into contract in July!
6/16/2014Met with my loan officer, mid score came up as 643. He said he'd have no issues getting me a loan today! I have a few docs I need to get into him, and a few explanation documents to submit as well. He said he'd be ready to send the ok to the builders. Looking like we'll go into contract in July Smiley Happy.
6/19/2014Dropped off my earnest money deposit ($2500) and reserved the lot of my choice!


Starting Scores (10/18/2013): EX: 603 | EQ: 572 | TU: 659
5/05/2014 EX: 628 | EQ: 627 | TU: 623
5/25/2014: EX: 628 | EQ: 635 | TU: 623
Current Scores: EX: 670 | EQ: 663 | TU: 681
Goal Scores: 680 across the board


Take the myFICO Fitness Challenge
Message 5 of 33
Mrs_hambright
Frequent Contributor

Re: Home Buying Log

Congrats!! I wish you smooth sailing
Message 6 of 33
TimeToRecover
Established Contributor

Re: Home Buying Log

I didn't have to do earnst money until I was under contract (also building).  If you aren't under contract yet what was the earnst money for?


Starting Score: 570 ish
Current Score:EX (701) EQ (711) TU (705)
Goal Score: 750
In My Wallet: GE Care Credit (8K) BestBuy (6K) BofA Cash Rewards Signature Visa (7K) Cap One Quicksilver (10.5K) Chase Freedom (4K) Lowes (6K) VS Angel Card (2.4K), Macys (4K)
Message 7 of 33
guykara
Frequent Contributor

Re: Home Buying Log

Thanks Mrs_hambright!

 

There's only 4 lots left in the community. I went ahead and reserved a lot so I'm good until we enter contract, which should be in July. Smiley Happy



Starting Scores (10/18/2013): EX: 603 | EQ: 572 | TU: 659
5/05/2014 EX: 628 | EQ: 627 | TU: 623
5/25/2014: EX: 628 | EQ: 635 | TU: 623
Current Scores: EX: 670 | EQ: 663 | TU: 681
Goal Scores: 680 across the board


Take the myFICO Fitness Challenge
Message 8 of 33
guykara
Frequent Contributor

Re: Home Buying Log

Another Update!

 

DateUpdate
6/15/2014Met with my realtor / the site realtor and came to a final price. $288,000. Going to check out a few other communities to be sure, but this is looking like the one I really want.
6/16/2014Meeting with my loan officer to deliver documents (w2's, tax returns, bank statements, housing/employment verification, paychecks, etc.). Hoping to get my credit ran when I'm there to see what scores he pulls. Looking for pre approval so I can get into contract in July!
6/16/2014Met with my loan officer, mid score came up as 643. He said he'd have no issues getting me a loan today! I have a few docs I need to get into him, and a few explanation documents to submit as well. He said he'd be ready to send the ok to the builders. Looking like we'll go into contract in July Smiley Happy.
6/19/2014Dropped off my earnest money deposit ($2500) and reserved the lot of my choice!
8/18/2014I signed the contract two weekends ago Smiley Happy. Finished picking out my selections yesterday and will go in next weekend to do an electrical diagram. Looking to close at the end of May, 2015.


Starting Scores (10/18/2013): EX: 603 | EQ: 572 | TU: 659
5/05/2014 EX: 628 | EQ: 627 | TU: 623
5/25/2014: EX: 628 | EQ: 635 | TU: 623
Current Scores: EX: 670 | EQ: 663 | TU: 681
Goal Scores: 680 across the board


Take the myFICO Fitness Challenge
Message 9 of 33
Anonymous
Not applicable

Re: Home Buying Log

Question.  I am almost in the same situation as you.  The only difference is that we are target to close late Nov/Dec.  My questions are.

 

#1  What will you be doing on the interest rate?  Chances are that it is likely to go up, but just want to see if you have anyways to secure the current rate.  I am shooting for 4% flat, but none of my credit union are willing to do rate lock past 60 days.

 

#2  I did the pre-approval for mortgage in June, but I have to do another full application 60 days out.  Since there can be delays in building the house, how do you plan to time it?  I want to get it in ASAP in order to secure the best way.  

 

Thanks

Message 10 of 33
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