[Newlywed Homebuyers]

They will have you pay it.

[Newlywed Homebuyers]

I closed in July with my new construction. The builder didn’t pay anything. From intake appt to closing was about 6 months because that’s how long it took to be built. Chose my upgrades and offered about 10K less than purchase price and they accepted.

[Newlywed Homebuyers]

It’s the same IF you are buying from a builder because the land and loan is one. You can’t build if it requires 2 separate loans.

[Newlywed Homebuyers]

I did not have to secure funds with the builder. I had to have esrow which was 1% of the final cost of the home.

[Newlywed Homebuyers]

Intake meeting was January 17th
Verification sheets Feb. 15th
Submitted for approval Feb. 26
Conditions given Mar 4
Qualified Mar. 8

[Newlywed Homebuyers]

@DCK822 They required 2 appraisals. One with the signed contract and one when the house was more than 90% completed.

[Newlywed Homebuyers]

I used Columbia, SC office.

[Newlywed Homebuyers]

I also went through a SC office. You will be unable to get qualified if the gap is longer than 3 months. Unless your income covers the amount you want to qualify for.

[Newlywed Homebuyers]

Here’s my timeline!

My Timeline:

Dec. 1 – Homebuyers Workshop
Dec. 4 – Received NACA ID
Dec 11 – Everything uploaded
Jan 9 – Intake Meeting Uploaded other documented listed as Homeownership Ready & sent out renter/income verifications
It was at this time we thought it was gonna take too long because they needed by husband’s 30 day employment verification because he started a new job, but for a new construction it needed to be started 6 months in advance. 
We decided to go back to NACA & our builder cancelled our contract per NACA but said they’d keep building and if NACA fell through they’d just put it back on the market. They gave us 90 days to submit a new Purchase Contract. 
Feb 15 Signed Verification Sheets
Feb 15-26 Submitted lots of the paperwork & tons of back & forth 
Feb 27th – Submitted for approval
Mar 4 Given conditions, submitted them same day. 
Mar 8 Qualified
Mar 9 Volunteered at NACA Homebuyers Workshop (YOU MUST VOLUNTEER BEFORE YOU ARE QUALIFIED or sign up to volunteer beforehand)
Mar 14 Purchase Workshop
Mar 15 Submitted P&S Contract & Locked in our rate 
Mar 23 submitted for credit access
Between 23-4/3 went back & forth with underwriting. Our MC escalated to regionals. They’re on your side
Mar 28 Initial Appraisal Conducted – $5,000
over purchase price
April 4 signed bank application
April 19 Bank Conditions
April 20 Conditions Met
April 29th Construction walkthrough scheduled for end of July (now just waiting to close)
May 15 Got HOI
May 28th Switched closing coordinators
May 31st House completion CO sent and final appraisal ordered
June 5 Appraisal Done
June 13 UW CTC
June 13 Asked for page 5 signature for CTC
June 28 Final walkthrough
July 7 CTC – Final
July 9 – cD sent
July 10 – updated CD
July 15 – Closing

I closed on my exact date.

[Newlywed Homebuyers]

With a new construction they required an appraisal at time of contract signing, and then another when the house is 100% completed

[Newlywed Homebuyers]

No, they mailed out the closing the same day or day after I received CTC final.

We set my close date back when we signed our purchase contract.

[Newlywed Homebuyers]

As you are married, you must be included and you can’t have any Recent charge offs.

[Newlywed Homebuyers]

We built our home. We stayed at UW-CTC for 2.5 weeks because they wait until the week before to do the final employment verifications. We moved to CTC-FINAL yesterday 7/8. We close Monday 7/15 so exactly one week.

[Newlywed Homebuyers]

Our purchase contract included a clause you cannot currently be in contract for another property.

[Newlywed Homebuyers]

Nope. I got a text that said it was there but it never was

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