September closers!

[MauiMan85297]

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@Anonymous wrote:

Starting the thread for September!

Location: Seattle currently but purchasing in Mesa, AZ

Purchase price - $575,000
% Down - 20%
Product - 30 yr fixed 
Mid score - 709

Sellers Credit - $0
Rate - 2.625% or 2.875% (trying to decide if buying points makes sense for me)

Estimated Close Date -  September 8
Possible issues - I'm selling my house in Seattle but it's not on the market until I get home and get it listed next week. The market is very hot so no real worries but that adds complexity.

I also always worry about DTI because I have $2750 per mo attributed student loan payments (actual is $588). I wasn't planning to buy yet so I just bought a car that made that tighter than it should've been. I'm sure it'll be fine because I qualified for 650k multiple places but I do have bonus and RSU income that may calculate differently in UW. I did an initial UW before moving forward so should be fine but it adds stress!

Oh and we're rushing the appraisal to make sure it's close to offer amount because I waived that contingency. I have 10 days to back out with the inspection contingency so may have to if it appraises way less. I had to go over asking to get it as a contingent buyer so we'll see what happens!

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Much drier weather for you, been in Mesa for 4.5 years and just sold and pending escrow- our new build has a close date of 9/9.  You should be fine then with student loans if the min payment is reporting instead of it showing a $0 due.  If so, you can have the conventional loan done through Freddie and they will only use .5% instead of Fannie's 1%.

[finfree]

I'm refinancing (no cash out) and it will probably close in September (late August might be too optimistic). Rate is 2.25% on a 15 year fixed with no points. FICO2 middle score is 798. Fannie Mae waived appraisal, which saves time and $$ (my lender was able to achieve this; Fannie Mae at first required an appraisal). I have 20 years left on my original 30 year mortgage, which is at 4.375%. Just went to underwriting, so now the fun starts. 

[Anonymous]

It's been awhile, hopefully more September closers join soon!

I set up utilities this week and my move is scheduled. It's super hard to get out of state movers right now so we have to put everything on the truck before closing on this house, so I sure hope my buyer doesn't have any issues!

Everything is done on my purchase other than clearing the condition of selling my current home. Closing on this one on the 26th, then the new house 9/3. Meanwhile my dishwasher broke today so getting someone out on Tuesday. Figures, right?

[Anonymous]

Location: Seattle

Purchase price - $735,000
% Down - 25%
Product - 30 yr fixed 
Mid score - 802

Sellers Credit - $0
Rate - 2.500% (no points or orgiantion, $500 lender credit)

Estimated Close Date -  September 1
Possible issues: New construction. Finishing touches to house (long punch list). Waiting on certificate of occupancy (should be this week!). Appraisal is still outstanding (but have enough down to account for a low appraisal). Student loans (need to use IDR payments and just pulled the loans out of forbearance in July).

[Anonymous]

We've had major storms daily in the DC area so the timeline has been pushed. Our official close date is 9/29 now. The initial appraisal did come back above the asking price so that's one good thing. 

[MauiMan85297]

August 2021 Closers Thread

Purchase price - $539,000
% Down - 5% (Non-disabled vet so the VA FF is only 1.6% which is covered by my realtors 2.0%)
Product - VA 30 yr fixed
Mid score - 719

Sellers Credit - 2% (Coming from realtor)
Rate - 2.25% w/ $2200 in lender credit

Estimated Close Date -  Sept 9th is now the definitive close date instead of August 15th (New build est close date)
Possible issues: None, our current home closes escrow Aug 30th (All cash offer+ 2 week post possesion at no charge).  My owner is doing

my loan as I can't do my own loan.

Builder: Blandford Homes LLC

[MauiMan85297]

Purchase price - $539,000
% Down - 5% (Non-disabled vet so the VA FF is only 1.6% which is covered by my realtors 2.0%)
Product - VA 30 yr fixed
Mid score - 719

Sellers Credit - 2% (Coming from realtor)
Rate - 2.25% w/ $2200 in lender credit

Estimated Close Date -  Sept 9th is now the definitive close date instead of August 15th (New build est close date)
Possible issues: None, our current home closes escrow Aug 30th (All cash offer+ 2 week post possesion at no charge).  My owner is doing

my loan as I can't do my own loan.

Builder: Blandford Homes LLC

[Anonymous]

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@Anonymous wrote:

Location: Seattle

Purchase price - $735,000
% Down - 25%
Product - 30 yr fixed 
Mid score - 802

Sellers Credit - $0
Rate - 2.500% (no points or orgiantion, $500 lender credit)

Estimated Close Date -  September 1
Possible issues: New construction. Finishing touches to house (long punch list). Waiting on certificate of occupancy (should be this week!). Appraisal is still outstanding (but have enough down to account for a low appraisal). Student loans (need to use IDR payments and just pulled the loans out of forbearance in July).

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Nice to see another person from Seattle! I'm selling my house here and moving to Arizona. Good luck on the build!

[Anonymous]

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@Anonymous wrote:

We've had major storms daily in the DC area so the timeline has been pushed. Our official close date is 9/29 now. The initial appraisal did come back above the asking price so that's one good thing. 

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Yikes! Glad the appraisal came back high. Do you have repairs that need to be done to the house?

[Anonymous]

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@MauiMan85297 wrote:

August 2021 Closers Thread

Purchase price - $539,000
% Down - 5% (Non-disabled vet so the VA FF is only 1.6% which is covered by my realtors 2.0%)
Product - VA 30 yr fixed
Mid score - 719

Sellers Credit - 2% (Coming from realtor)
Rate - 2.25% w/ $2200 in lender credit

Estimated Close Date -  Sept 9th is now the definitive close date instead of August 15th (New build est close date)
Possible issues: None, our current home closes escrow Aug 30th (All cash offer+ 2 week post possesion at no charge).  My owner is doing

my loan as I can't do my own loan.

Builder: Blandford Homes LLC

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Welcome to the group!

[Anonymous]

Purchase price - $539,000
% Down - 5% (Non-disabled vet so the VA FF is only 1.6% which is covered by my realtors 2.0%)
Product - VA 30 yr fixed
Mid score - 719

Sellers Credit - 2% (Coming from realtor)
Rate - 2.25% w/ $2200 in lender credit

Estimated Close Date -  Sept 9th is now the definitive close date instead of August 15th (New build est close date)
Possible issues: None, our current home closes escrow Aug 30th (All cash offer+ 2 week post possesion at no charge).  My owner is doing

my loan as I can't do my own loan.

Builder: Blandford Homes LLC

[Anonymous]

Can you believe that in spite of literally never overdrafting, I somehow did today? I have been keeping the majority of funds in savings and today an auto payment went through early and somehow posted 3 overdrafts over night as a result. I immediately transferred money from savings to checking but the overdrafts will be on my statement. I check my accounts multiple times a day so I have no idea how this managed to hit and post in the span of a few hours but here I am. Really hoping that no one will ask for another set of bank statements before we close on 9/3.... or that if they do, the fact that I have a pile of money in savings will offset the oops. Ugh, just what I needed, more stress!