October 2020 Closers

[Anonymous]

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@numba1fan wrote:

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@Anonymous wrote:

@numba1fan 
congrats.  Hoping for a good close for you.  Mind if you send me your LO info.  It's been hard to find a FHA lender doing a mid score below 620.  Thanks!

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Sure thing! I'm in GA (and so is my LO,) but my mortgage company is based in CA. I will DM you.

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Can you send to me too please. Doesn't hurt to have a few in the back pocket. 

[Anonymous]

Thanks so how's the mortgage process and UW going so far?

[Anonymous]

Mine is going well. 

just waiting on title. I have a conditional approval and mortgage commitment. Just sent in all conditions and purchased HOI for the year.  

my main concern right now is that my median score dropped below 620, but my LO said it doesn't matter as they use the initial score that was conditionally approved.  What happens prior to funding is a soft inquiry on my credit to make sure there are no

new credit instances.  

even though she has said that to me I am still uneasy. 

[Cjethompson2017]

@Fico82 I'm a September closer, but omg. Who is the builder??? That seems sketchy.

[Anonymous]

We have conditional approval but our appraisal is now scheduled to take 22 days instead of the 7 we were told .  Pushing it back to 9/24   We still need second set of loan disclosures then title work and final approval/ clear to close  after that which means there’s zero chance basically we are going to make our close by date of 10/5 on our purchase agreement .  If we loose this house because of the appraisal backlog I’m gonna cry.  The close by date was already more then six weeks out from offer to allow extra time .  With it being conventional we were told we’d likely close well before that it was just padding. 

[numba1fan]

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@Anonymous wrote:

my main concern right now is that my median score dropped below 620, but my LO said it doesn't matter as they use the initial score that was conditionally approved.  What happens prior to funding is a soft inquiry on my credit to make sure there are no

new credit instances.  

even though she has said that to me I am still uneasy. 

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This is my fear as well, and my frustration. My middle score also dropped, and I am scared that I wont get approved if they re-pull my credit. If it's just a soft inquiry, I am good. I am really praying and hoping that it's just a soft. Otherwise, I am screwed! This entire credit stuff and house process is super stressful!!

[Anonymous]

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@numba1fan wrote:

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@Anonymous wrote:

my main concern right now is that my median score dropped below 620, but my LO said it doesn't matter as they use the initial score that was conditionally approved.  What happens prior to funding is a soft inquiry on my credit to make sure there are no

new credit instances.  

even though she has said that to me I am still uneasy. 

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This is my fear as well, and my frustration. My middle score also dropped, and I am scared that I wont get approved if they re-pull my credit. If it's just a soft inquiry, I am good. I am really praying and hoping that it's just a soft. Otherwise, I am screwed! This entire credit stuff and house process is super stressful!!

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Yep I was assured again today it was a soft inquiry.   Rest Easy. 

[importxpresions]

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@Fico82 wrote:

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@Anonymous wrote:

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@Fico82 wrote:

Well fico fam ... im not in the running anymore 😞. Had inspection done yesterday and house failed. Doesnt look like ill be in the oct closing group.  About ready to throw in the towel.. 

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Aww **bleep**, bummer. Did the house fail to meet lending requirements? Or the house was to bad for repair. In most cases you can get seller credits if they don't want to do the repairs. If the house is really bad then it's best to walk away. Hopefully it all works out in the end. My inspection is Tuesday, still debating if I want to do a sewer line inspection as well. They can be very pricey in the long run.

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Well get this , this house is 3 weeks old . Brand new construction.  After inspector gave me the 26 page report i started to get this feeling in my stomach to walk. The big red flag was that the installation of the roof was done wrong along all the other issues i decided to go with gut feeling and continue searching for another one. All this that inspector could see with his eyes imagine all the other cut corners they did that you cant see etc. So my journey continues.

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Imagine if they missed it and you bought it. Imagine being the owner of that house trying to sell it in the future... you lucked out

[Anonymous]

@Anonymous what state are you in? I'm currently waiting on appraisal which is due back tomorrow and initial approval from underwriting with conditions which was submitted Sept 1. So far my LO has been very responsive and very accommodating. I am just running out of patience. Just want to hear something back if you know what I mean. Haha. We are scheduled to close Oct 5 so I hope everything works out.

[Anonymous]

Got the conditional approval out of UW today. So that's good!