September closers!

[Anonymous]

I can finally join one of these threads!!!! 

Location: Rockland County, NY (New City)

Purchase price - $580,000
% Down - 5%
Product - 30 yr fixed 
Mid score - 702

Sellers Credit - $500
Rate - 3.125% or 3% (I haven't locked yet)

Estimated Close Date -  September 27
Possible issues - My biggest issue at this point is if the appraisal will come in at our purchase price. I've done my due diligence with getting a thorough CMA analysis, so I think that it will work out but it still makes me nervous. This is our first home so we're so excited and filled with so many emotions! We also haven't told anyone except for two people, so it's a lot to keep to ourselves while we go through the process!

[Anonymous]

Welcome Paloma! And congrats!

We got everything loaded up today, the container gets picked up tomorrow. Only a few days until this house closes and I'll be temporarily homeless!

[Anonymous]

Closing on my current home tomorrow, it feels so weird. I definitely didn't expect it sell it so quickly but I'm lucky to have caught the market right as it began to go down in my area. My current mortgage plus HOA (on a townhome) is $3920 and my new mortgage plus HOA (on a SFH) will be $2420. I CAN'T WAIT!! Being able to put 20% down in a lower COLA is a dream come true. We're flying out to AZ tomorrow.

My purchase finally cleared title, which is funny because it's been sitting there waiting to be reviewed since July 22. I guess since we had a bit of a wait to close there was no rush. The only thing left to provide is proof of my current mortgage payoff after closing, which I think will come through Friday since I have to get both the closing docs and a screenshot of a $0 balance on my mortgage. Then fingers crossed for a CTC early next week! Closing is the 3rd!! Meanwhile, I had some stuff shipped to the new place because it said it would arrive after closing and wouldn't you know it all is coming early haha... luckily, the sellers moved out already so I can swing by every time I get a delivery notice to pick it up.

[Anonymous]

Looks like yesterday our underwriter was ready to issue final approval. Supposedly we'll have that by tomorrow then our file will be off to the title company. We still don't close for 3.5 more weeks. 

[Anonymous]

Thanks!

Our file was officially submitted for underwriting yesterday after having gathered updates to the original documents we presented for pre-approval. I'm nervous as all hell despite our LO being extremely confident that we're beyond okay. (Their DTI ratio is 48% cap on the backend, we're at 44%.) 

We should hear something by tomorrow or Monday the latest. 

[Anonymous]

Things are moving QUICK! Received our approval with conditions (I assume its customary things, we're also waiting for the appraisal to be scheduled.) Just signed our loan disclosure packet! 

[Anonymous]

Wow, that's so quick! Congrats!

My sale closed today so now onto the purchase.

[Anonymous]

Well in barely an hour from me writing that, they got back to us with our fully financed approval! We just have to provide signatures on documents and we're good to go.

Waiting now for appraisal and title search to come back and then hopefully it's on to CTC!

[Anonymous]

Now that my house is sold, I'm so eager for closing! One week feels like an eternity... argh. I'm waiting for my old mortgage to show a $0 balance and then I can upload that for the new mortgage. That's the only condition left so would love to maybe close a day or two early!

[Anonymous]

Buying a new build is way too stressful, but everything is moving along. Close on Wednesday and sign Tuesday afternoon!

Appraisal came in $5k above contract price yesterday, certificate of occupancy issued today, most of the punch list items are done, and received closing disclosure today. We have one final walk through Monday and then we close! We cut it really close, but our amazing mortgage company (and everyone else) is making it all happen on time.