Closing in two weeks...yea

Discussion in 'Credit Talk' started by Dani, Nov 14, 2001.

  1. Dani

    Dani Well-Known Member

    You know some days are really good and some days really suck...well, this happens to be a good day. We put a contract on our home in July and our closing costs and downpayment were going to cost us $9000. Lender called today our closing costs and downpayment total $5200!! We saved the $9000 + to be on the save side. So we have additional savings for when we move in. One
    Hope everyone is doing well.

  2. leo728

    leo728 Well-Known Member

    Happy for you dani. How much house did you buy?

    I am planning to get a $120/150k townhouse of my own next year.

  3. SisterGirl

    SisterGirl Well-Known Member

    Congratulations Dani !

    Sister Girl
  4. Dani

    Dani Well-Known Member

    Thanks leo and SisterGirl.

    The house is a little over 2000 square feet.
    We really lucked out.

  5. Newcomer

    Newcomer Well-Known Member

    Congratulations, Dani!
  6. Momof3

    Momof3 Well-Known Member

    Congrats Dani, I am so glad you saved some $$$ and that this is almost over:)
  7. Dani

    Dani Well-Known Member

    Thanks Mom and Newcomer. Can't wait to the house for Christmas. :)

  8. Nave

    Nave Well-Known Member

    I am with Mom (not literally, just figuratively) I jumped in to a home and spent every dollar I had on the downpayment and it really hurt the first 4 years when even minor repairs or mishaps come up (everything starts at a minimum of $1000.00 once the home is yours). Great that you saved the 9K.

    Congrats on the new home.. I wish you happiness and good times ahead.

    -Peace, Dave
  9. Dani

    Dani Well-Known Member

    Thanks, Dave. Hope everything is good with you.

  10. Beaker

    Beaker Well-Known Member

    Hooray!! I am so jealous! I can't wait till my fiance and I can buy a house....

    Dani, do you have any words of wisdom regarding credit requirements, etc. when it comes to homebuying?

    Enjoy! :eek:)
  11. Dani

    Dani Well-Known Member

    Actually, no words of wisdom. I truly believe anyone can buy a house. I thought it would be alot more difficult than it was. For a couple years, I was scared to apply because I thought that we didn't make enough nor did we have anything in savings and that the lenders would laugh at us. You need to have one of three strongholds to purchase a home...the income, the credit, or the downpayment. If you have one or more of the above it's pretty easy. Hubby and I have not applied for credit since February because we didn't want any recent inquiries on our reports. And since we put the contract in in July they've been watching us like hawks. Over the past four months they've pulled our credit report three times. Once for preapproval, once a month before closing (just to make sure nothing had changed) and then I've been told they will pull it again next week prior to closing. So two more weeks and I can apply for something!! I have no idea what though. Maybe Juniper.
    My only advice is if you have the savings and credit buy a house now. We got 6.5% with 0 points. There were a couple of people who were fortunate enough to get 6.25% for the few days it lasted, but we had already locked in by then. But, good luck and you can do it. :)

  12. Momof3

    Momof3 Well-Known Member

    Excellent advice Dani:)

    Are you going to be burning up those online bank sites with applications after you close LOL:)
  13. Erica

    Erica Well-Known Member

    Good luck Dani. I'm sure that everything will go exactly as planned. I would also like to thank you for your warm wishes. We really appreciate them.
  14. Dani

    Dani Well-Known Member

    Mom, I may hit one or two online sites. :) Are you excited about the first Xmas in the new house? I can't wait to decorate. I probably won't have the dishes unpacked, but darn it I'll have that tree up.

  15. Dani

    Dani Well-Known Member

    Erica, I need all the good luck I can get. The only thing that terrifies me is the couple of days before closing. I heard it's nothing less then utter chaos. If they push our date back we're homeless. Oh well, we'll throw the mattress in the back of the pick-up truck and pretend we're camping. :)

  16. cariba

    cariba Well-Known Member

    Congratulations Dani!

    I don't know if i will close before the end of Dec.--who did you get 6.5% and no points with. I had been quoted 7 with no points--I would have to buy down to 6.5--just interested to know who the lender is.

  17. Dani

    Dani Well-Known Member


    Thanks. I live in Virginia and my broker is Preferred Mortgage Services out of McLean. If you need their name and number let me know. Congrats on your new home.


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