Sold… Almost

13 07 2009
...Almost!

...Almost!

It has been over two months since the offer we put in on our future townhouse was accepted and we have yet to close. It’s been a roller coaster ride and I know many friends and family have stopped asking when we were going to close.  Here is the summary of our Journey thus far.

  • May 6th put in offer for townhouse.  Offered 203K plus seller to pay all of our closing costs. In our offer we said close on or before July 10th, giving us lots of room.
  • May 11th offer was accepted without any changes (Yay!)
  • May 15th inspection complete (with flying colors!)
  • May 15th loan application submitted and pre-approved
  • June 17th locked in with Lender A at 5.25%
  • June 17th appraisal came back at $219,00! Yay instant equity!
  • June 30th, lender finally responds to our application with conditions (a few missed signatures, more current pay stubs, minor stuff)
  • July 2nd we’ve cleared up all of the conditions and are waiting to hear from the lender when we can order our docs for closing…
  • July 10th… after tons of missed dates (promises not kept) from the lender, and very little movement on our loan (it was in underwriting for 5 weeks!) we had to file an extension (remember that close on or before July 10th thing in our offer?) and we decided to go with another lender (lender B) who has much faster turn around times.  Much to our delight, Lender B (who we didn’t use before because of higher rates) locked us in at 5% a .25% improvement in our rate!

We absolutely love our mortgage guy- (he’s also our realator) and he’s been great at keeping on top of our loan stuff, it’s just that Lender A was just absolutely horrible to deal with (they would ignore his phone calls and e-mails until he got their management involved).   On friday when we were making the decision to change lenders, Lender A was forecsting July 24th as a BEST possible closing date (ARE YOU FREAKIN KIDDING ME!)  Lender B, starting from scratch was forecasting July 24th as the WORST possible closing date- with July 17th or 20th more like it.  The icing on the cake was locking in at 5% with lender B.

As you might imagine this has been causing a lot of stress!  Thank goodness BF’s lease is up in early September so the delay is only saving us money (less time to have mortgage plus rent) but we’ve both put a lot of things on hold while we are waiting to close on the house.

I don’t think it’s a secret that BF and I hope to get married in Summer 2010.  Since the event will be in Seattle lots of friends/family are wondering how soon we’ll know a date.  Deciding to buy a house together has put any ideas ofhim popping the question on the back burner, which of course has pushed out setting a date.  Trust me, as soon as we know, you’ll know.  Right now we are hoping for a July or August date.

So, we’d appreciate your prayers for a quick and easy closing with Lender B!

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2 responses

4 08 2009
Gloria Cortez

You are amazing and I appreciate how you are so good about staying in touch…I love you for that.
I am so very happy about your BF…he looks like a great guy and well suited to you. I can’t wait to hear about your “formal” engagement and wedding date. Does your Dad like BF?
I love your townhome and the kitchen is amazing!!! I have no doubt the improvements you are planning will make your future home so much more beautiful.

Love and God bless:-0

4 08 2009
iftinkerbellknit

Thanks Gloria! 🙂 My family loves Matt, he’s met about 60% of them- we’re going back east to meet the other 40% next month. I keep trying to fit an Atlanta visit on the calendar, but we’ve been so busy! Hope all is well!

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