March 18, 2012

Mortgage Midway Point

I know I promised numbers last week, but with this house buying process moving Really quickly now, I have had a roller coaster of a week!

The beginning of the week I was so stressed out I didn't know what I was going to do.

By Friday, I was in a happy place.  It's amazing how quick it can all change.

Monday: I didn't know where in the mortgage process we were at, I didn't know when the house appraisal was going to happen, I didn't know when the seller's had the pest inspection scheduled for, I didn't have the specialized POA from J yet.  Essentially, I didn't know what the heck was going on.

By Thursday: I had the conditional approval for the mortgage.  They just need some paperwork and explanations for things that we have (statement from retirement showing proof that the deductions from J's paycheck are for 401K loans, wedding licence since our last names are different, a copy of J's DD214/discharge papers, copy of cancelled check for Earnest Money and statement showing it cleared, POA, and explaining the inquiry from American Express in February....if we 'pay' for the cruise in full we get $500 on board credit.  It will 'pay' for it, but it gets paid immediately with the cash we already have saved...I wanted onboard money! haha)

So on Thursday, I had most of the information they needed.  I called our 'other' credit union and requested the check copy. I'm actually a little miffed they don't make the images available on their website. That way I could have just printed it off. But no, I have to pay $2.50 for them to mail it.

By Friday: I had to call the credit union again for a certified printed copy of our transaction history for March showing the Earnest check had cleared. Then I had to fax the request to the head teller (I did this at 1pm, and the $2 it would cost was not deducted, so I'm assuming that it didn't get done.  I don't know if I have ever mentioned it, but I am not a fan of our 'other' credit union.) If I have to, I will drive the 2 hours to the closest branch to get it done.
I received the specialized POA in the mail on Friday, yay!
The appraisal had been completed on Tuesday, and the pest inspection was done on Thursday.

Everything is falling in place, and all we need now is to have the loan approved (which I don't see a problem in happening). The sellers have moved out, as they are relocating to Oklahoma and have already signed all of their paperwork.  I'm hoping to get in there and find out what I need to have someone come in and do before I move completely in (special window treatments....if needed).

So there we have it, almost done, and if all goes well closing in less than two weeks :)

Hope you all have a great Sunday (I have to work) and a great week! :)


Harry said...

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Rafiki said...

Things are hectic but it seems that everything will end on a happy note. I'm excited at the progress you are making. Can't wait for the climax when you move in. Going to be awesome.