Newlywed Homebuyers

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  • in reply to: new item on credit #66026

    They will have you pay it.

    in reply to: Anyone successful with a new home from a builder? #64578

    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.

    in reply to: Being built vs. already built home? #63936

    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.

    in reply to: New Construction Rules #62054

    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.

    in reply to: UR timeline #62032

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

    in reply to: Closed New Construction on Time – Timeline Included #61395

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

    in reply to: What office are you guys with? #60991

    I used Columbia, SC office.

    in reply to: Switching jobs during qualifying process #58568

    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.


    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.

    in reply to: Closed New Construction on Time – Timeline Included #49956

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

    in reply to: Closed New Construction on Time – Timeline Included #49946

    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.

    in reply to: Qualifying #49872

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

    in reply to: Several days at uw ctc #49799

    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.

    in reply to: Submitting multiple property offers & short sales #49303

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

    in reply to: BOA Appraisal #49268

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

Viewing 15 posts - 1 through 15 (of 50 total)