November 2020 Closers

[Anonymous]

Excited for the next chapter of our lives. listed condo for $234,900 and got the asking price after 2 days on the market which set a new record in our condo complex. Found our dream home while the condo was listed

Listed- $350,000

Offered- $356,000 with $6,000 back for closing cost.

down payment- $35k

Locked in rate-3.15 with 1 point 

My mid score of 664

Wifes mid a score of 668

Inspections are 10/6

The closing date on both properties is 11/6

[Anonymous]

New Construction

Purchase Price: 557,223

DP: 8%
Loan Amt: $510,400

Loan Type: Conventional

Mid Score: 624

Close Date Tent: 11/12

In Underwriting with Builders Lendor.. Had some conditions which were just met so waiting to see if that raises scores for better rate... right now sitting at 3.625

[CreditOnTheRise1]

Finally excited to post on here after fixing my credit on my own and raising my mortgage scores over 100 points on average in 6 months. 

New Construction in Houston suburbs.

Purchase Price - $287k

DPA - 3.5%
Lender credit - $7500 towards closing cost

Loan Type - FHA

Mid-Score - 671

Rate - Not Locked

House completion Date of 11/19.

Closing Date estimated at 11/30.

I'm super nervous because I've been working on this for sooooo long!  I just took my loans out of forbearance to keep my DTI low. I'm in the home stretch and now every move I make is extremely calculated and strategic and lots of overthinking going on. I've had two credit pulls so far but my broker says we can't lock a rate until 30 days from expected close so I'm waiting to pull the last credit report. I've utilized AZEO for the last 4 months, got all collections deleted except one. The last one is Portfolio Recovery and they said they delete after 30 days from the payment which was 9/15. So hopefully by the end of the month I can pull the final credit report and lock a good rate. Estimated rate right now from my LO is 3.4 due to the DPA of 3.5%.

[Anonymous]

This is great! I'm glad I can finally post mine on here.

New Construction 

Purchase Price - $254k

DP - 3.5%
Lender credit - $11k towards closing cost

Loan Type - FHA

Mid-Score - 679

Rate - Not Locked, was estimated 3.5%

Closing Date estimated 11/30

I am waiting on my credit reports to update balances as nfcu decided to report prematurely last month. But I am hoping I can get my mid score just a few points higher to maybe get me a better rate.

It's been a long time coming... I'm in my mid 30s, kids are teenagers, I've been trying for years but just never been in the place to be able to purchase, until now. Super excited, but also my anxiety is through the roof that something bad will happen! Fingers crossed that we can all sail through this smoothly.

[Anonymous]

Purchase Price: $226,500

Down Payment: 10% 

Product: Conventional 30 year

Mid-Score: 697

Rate: 3.5 (locked)

Closing Date: November 6

Inspection went well. Waiting for appraisal to be scheduled. File sent to underwriting week of 9/28. Haven't heard anything from them. I'm a nervous wreck. 

[Anonymous]

Purchase Price: $525k

Down Payment: 5% 

Product: Conventional 30 year NFCU

Mid-Score: 681

Rate: 4.125 (floating)

Closing Date: November 16

Waiting for the appraisal then headed to final underwriting. 

@Anonymous glad to hear I'm not the only one who is a nervous wreck! Fingers crossed everything goes well for you! 

Any one closed/closing with NFCU? I'm so nervous for underwriting and just wondering how others fared.

[Anonymous]

How has the process been for NFCU? 

[Anonymous]

I think we are all a nervous wreck. 

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@Anonymous wrote:

Purchase Price: $226,500

Down Payment: 10% 

Product: Conventional 30 year

Mid-Score: 697

Rate: 3.5 (locked)

Closing Date: November 6

Inspection went well. Waiting for appraisal to be scheduled. File sent to underwriting week of 9/28. Haven't heard anything from them. I'm a nervous wreck. 

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[Anonymous]

Working with NFCU has been decent. 

Highlights we've experienced:

• Obtained Pre-approval very quickly (within 3 days) with less than perfect credit.
• Loan Officer has been good with communication considering the covid circumstances. Typically calls/emails within 24 hours of us reaching out.
• Requested documents are standard and straightforward

and some lowlights:

• Communication with our loan processor (person after loan officer) leaves much to be desired. We typicallly wait ~7 days for any type of communication even for simple questions like "Have we received the appraisal back?" or "When do you think we will move to final UW?". 
• Final UW is pretty backed up and your file apparently doesnt get sent to final UW until your're about 3 weeks or less from closing, regardless of how far out you set your closing date (we set ours 90+ days out, back in July!). This obviously puts us buyers in a tight position if any issue arises from UW so close to closing.

Overall, NFCU has been good to work with so far but you definitely get the feeling that they're stretched thin as far as resources for processing loans goes. I'll provide an update once we get through UW and closing. 

[TacoParty]

I am ecstatic to be on this list!!! It has been such a journey to get here, and I cannot wait to close and have our own place after renting for what feels like forever.  October is going to be a long month. 

Purchase Price: $595,000 with $10,000 going towards closing

down payment: 3.5% (FHA)

Locked in rate: 2.75% with 1 point 

My mid score of 710

Pre-inspected: in the process of negotiating repairs, but they have already agreed to the big stuff like a new roof prior to closing

Closing date: 11/6!