cancel
Showing results for 
Search instead for 
Did you mean: 

January 2021 Closers

Get your FICO Score for free

No credit card required

laurenjarrod
Valued Member

Re: January 2021 Closers

They asked for the "normal" stuff. The nice part is that they electronicall verify everything ( investment accounts, bank accounts, etc.) which saves faxing or emailing actual papers. You just input your usernames and passwords and it automatically vefifies.

They have an online portal ( and an app) which updates every step of the way. You can even chat with someone right in your portal. Every person I've chatted with has been able to answer all my questions. Applied online on 12/14, received my pre-approval instantly. Received my conditional approval on 12/21. Final approval was received 1/8. Closing is 1/15. I'm sure it would have been sooner except for the fact that there was Christmas and New Years in between this process. And because of that the appraisal wasn't scheduled until 1/4. 

Message 31 of 50
dmb1
Contributor

Re: January 2021 Closers

Loan Amount: $470,000

DP: N/A

Loan Type: Refinancing from Conventional with PMI Conventional

Mid Score: 777

Tentative Closing Date: Very end of January or Early February

Rate is 2.375% locked (Old mortgage was 3%)

Lender: Keystone Funding

 

Refinancing after purchasing in October, I know its a bit soon to refinance, but figure I lock in rates while they are low and remove PMI. Will lower my entire payment by around $200-300.  Lender seems awesome, I got them from mtgprofessor.com, I am completing almost the entire process over email/eportals without a phone call (the way I like it). They are also very fast.  Waiting for title work from my title company and some income verifications to complete, then closing disclosure + date get set. Hoping for end of January, but will see.

Message 32 of 50
Readyformyhome
Established Contributor

Re: January 2021 Closers

I got my CDs yesterday, clear to close today, and signing is scheduled for Thursday! Hooray!

 

Honestly, other than the endless delays because refis are so backed up right now, this has been super easy. Handled everything on the portal and they didn't ask for anything weird at all. Looking forward to finally closing!

FICO8: Low 700s. FICO9: Mid 700s. Goal: 800 club
Message 33 of 50
Cjaysmom
Regular Contributor

Re: January 2021 Closers


@Readyformyhome wrote:

I got my CDs yesterday, clear to close today, and signing is scheduled for Thursday! Hooray!

 

Honestly, other than the endless delays because refis are so backed up right now, this has been super easy. Handled everything on the portal and they didn't ask for anything weird at all. Looking forward to finally closing!


I refinanced in October, after purchasing last January. It was sooo easy in comparison to purchasing the home. It went fast too. I began the refi process around Labor Day, and closed on October 22nd. It was seamless. In fact, it was so seamless that I kept asking if everything was okay.

Congrats to you on your successful refi!!





Message 34 of 50
Readyformyhome
Established Contributor

Re: January 2021 Closers

It's made me a lot less afraid to buy again the future! I bought new construction so the mortgage process began in April and we closed in December when it was finished. That was such a long scary process but if a mortgage can be as easy as my refi, sign me up!

FICO8: Low 700s. FICO9: Mid 700s. Goal: 800 club
Message 35 of 50
NeedhoMEownership
Established Member

Re: January 2021 Closers

Purchase Price: 121,000

DP: 3.5%
Loan Type: Conventional 

Mid Score: 660

Tentative Closing Date: 1/27/2021

Rate Locked: @ 3.75% 

 

Seller is paying closing costs and offered an extra $500 for compassionate charity. Inspection complete and awaiting appraisal results :-)... 9 days and counting! My faith won't let me doubt that I'm going to close early 🙏🏾; I'm praying for this week. I've already starting buying and scheduling appointments for repairs 😁

Message 36 of 50
dmb1
Contributor

Re: January 2021 Closers

Be careful, don't rake in the debt, mortgage lenders often do another pull right before closing, if they see your reported credit card balances high or new accounts, it might need to be underwritten again, and if you are close to the DTI limits from the investor (most likely fannie mae or freddie mac in your case), they could still decline funding.

Message 37 of 50
cleansl8tvet
New Contributor

Re: January 2021 Closers

Congrats on getting this far! I hope you guys get it. If the appraisial is less than the value of the home would you think about spending the difference to buy it if it's not off by too much? If you really want it and can afford it, you should somehow find a way to get it. You worked so hard rebuilding. 

Message 38 of 50
cleansl8tvet
New Contributor

Re: January 2021 Closers

Hi, 

Did you end up getting the loan? I'm a veteran too hoping to use the VA home loan and wondering how your experience goes. Must be exciting and stressful at the same time. I'm in the process of saving as much as I can so I have cushion if something unexpected happens. Hope all goes well. Let us know what happens! Smiley Happy

Message 39 of 50
izzesparks
Frequent Contributor

Re: January 2021 Closers

I made it!! I finally close on my first home today! Have my keys in hand, I am still in shock it hasn't quite hit me yet that I am a homeowner. I own a home and nice piece of property, it is mine. Oh my. This was a long and arduous journey that first started in October of last year and with another home entirely. After broken contracts with the listing agent, which I plan to take to court, on the first home. I had to start the process all over immediately on another home and actually a better home. I cannot RAVE enough on the lender I used who is from these boards. He helped me sooooooooo much, I would have given up long ago. He went above and beyond the call of duty and helped me even when my Realtor was at a loss. His team is also incredible, answer everyone of my calls and texts, stayed in constant communication which is a huge deal to me. I know I would not have gotten the keys to my home today without this lender. I am single mom, I struggled for years with my credit score, in less than a year I was able to get my score from the 420's to a 696 Fico score (with the help of this forum) and buy my first home (also with the help of a lender from this forum) before my son move out and keep my vow to him that he will live in his own home and have his own room before he graduates high school. 

 

This is insane lol I am to giddy!


Starting Score: TU-470 4/11/19, EQ-482 4/11/19, EX-486 4/11/19
Current Score: TU-507 7/18/19, EQ-517 7/18/19, EX-508 7/18/19
Goal Score: TU-700, EQ-700, EX-700


Take the FICO Fitness Challenge
Message 40 of 50
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.