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SEPTEMBER 2016 CLOSERS

New Contributor

Re: SEPTEMBER 2016 CLOSERS

Yea that is all they have to do for me as well, for about a week or more now I've had all the conditional paperwork in. We haven't slept much either. I just hate spending every day wondering of it will be done today or not and my LO is terrible at communication. I usually wait until about 2pm to contact the LO and my lawyer for updates just so I'm not bothering them first thing in the morning.

Good luck to you for the 15th. Looks like you have plenty of time.
Message 11 of 55
Regular Contributor

Re: SEPTEMBER 2016 CLOSERS

Purchase Price: $64500
Signed Contract: 8/10/16
Location: Florida
Property Type: Single family home
Type of Loan: USDA
Loan Rate: 4.00
Conditional Approval: 8/17/2016
Appraisal: Ordered 8/19/2016
Appraisal: Completed 8/23/2016
Clear to Close: has to be sent to actual USDA office
Final Walk-thru: TBD
Closing Date: 9/22/2016

Appraisal came back 1500 higher so rolled the rest of my closing costs into the loan, only have to come up with 500 dollars for closing hehe. Appraisal said there was an issue with the ac unit so an inspector has to go out and see what is wrong then the appraiser has to go back out and verify that it is in good working order. Once it is verified I get sent to the actual USDA for final approval. Nervous but I heard usually if a lender (home solution lenders in my case) approves you, most likely the USDA will approve you as well.. Anyone know if there will be another hard pull by USDA if my lender has already done it... Thanks

Crossing fingers for all of us..

Keith
Discover IT 02/2013 (1000.00),Chase Freedom 02/2013 (3000.00),AmEx Blue Cash Everyday 06/2013 (3000.00)
Citi Simplicity 06/2013 (1000.00)
TU FICO - 718 , CK TU - 738 , Credit.com EX - 727, Quizzle.com - 720, CreditSesame.com - 720

Message 12 of 55
Established Contributor

Re: SEPTEMBER 2016 CLOSERS

There was not any additional hard pulls by either my lender nor USDA after the initial credit pulls.
Message 13 of 55
New Contributor

Re: SEPTEMBER 2016 CLOSERS

I believe it should be a soft pull.
Message 14 of 55
New Member

Re: SEPTEMBER 2016 CLOSERS

The bank came back and asked for more letters of explanation today!! So i got that to them along with an updated bank statement to verify my down payment funds. Seriously hoping that is all they will ask for and that i will have an approval by the end of the week.
Message 15 of 55

Re: SEPTEMBER 2016 CLOSERS

Went to underwriting today and got conditional approval all in one day today!  Thought it would be longer to be honest, especially based on what I've seen here.  I know my LO spent a lot of time before handing over to underwriting to get all docs, etc so perhaps that made a difference.  Appraisal is tomorrow.

Message 16 of 55
Contributor

Re: SEPTEMBER 2016 CLOSERS

Hi Nursekat07 - Congrats you made it this far. My two cents worth is that funds need to be verified first prior to closing. 


Current Score: EFX 645, XPN 680, TU 725
Message 17 of 55
New Member

Re: SEPTEMBER 2016 CLOSERS

Figured I would throw mine up here:

 

Purchase Price: $355,000
Signed Contract: 7/19/16
Location: NH
Property Type: Single family home
Type of Loan: Conventional
Loan Rate: 3.375%
Clear to Close: 8/29/16
Final Walk-thru: TBD
Closing Date: 9/2/16

 

Its been a long process, I feel for everyone in here. Was supposed to close today, but got pushed back to Friday due to closing disclosure not getting out on time.

Message 18 of 55
New Contributor

Re: SEPTEMBER 2016 CLOSERS

Purchase Price: $325,000
Down Payment: 3.5%
Location: New Jersey
Property Type: House
Type of Loan: Conventional
Loan Rate: 3.825

Pre-Approved: 6/23/16
Clear to Close: 9/1/16
Closing Date: 09/8/16
Closed On: 9/8/16

 

This has been a very long and stressful process but I am truly excited about becoming a first-time homeowner. I am so grateful for the wealth of information shared on this site. It has helped me transform my finances and improve my credit score from the low 500s to mid 700s, within a year.  Thank you to everyone here for sharing their stories and experiences!! You guys are awesome!!

Message 19 of 55
New Contributor

Re: SEPTEMBER 2016 CLOSERS

Well I just heard back from the closing department and they have moved our closing date to September 9th. I just hope that the date doesn't move again. 

The good new is our rate was lowered to 3.750%. We are now locked in at the rate so we're saving some money along the way.

Message 20 of 55