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I had no idea buying a home was so intense

Phonzo

Phonzo

Member
Oct 26, 2017
4,817
Ultimate Bear Cub said:
Congrats on the house, hopefully. I found it very satisfying to be on the other side now myself. The process really had me anxious for months. The excitement of being my own bear in my own cave really kept me going.
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Thank you.

im glad i have a very cooperative agent on my side. Shes responsive and help takes alot of the preassure off. Such as helping me schedule the inspector, and answer all the little questions i have. I get so detail oriented with stuff like this.
 
Grouch Douglass

Grouch Douglass

Banned
Nov 9, 2017
3,777
Before I totally freak out, how common is it for the closing disclosure document to be way off? My closing costs seem to have mysteriously increased by 4k even after I had locked in my rate. I know the loan estimate is only an estimate but this is way too much. Is this legal if it is accurate?
 
whatsinaname

whatsinaname

Member
Oct 25, 2017
15,070
Grouch Douglass said:
Before I totally freak out, how common is it for the closing disclosure document to be way off? My closing costs seem to have mysteriously increased by 4k even after I had locked in my rate. I know the loan estimate is only an estimate but this is way too much. Is this legal if it is accurate?
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Depends on where that 4k bump came from. If that is prepayment/compensation for property taxes to old owners when you are moving in the middle of a year, it is expected. I was mentally prepared for a swing of about 1 years worth of property taxes.
 
Grouch Douglass

Grouch Douglass

Banned
Nov 9, 2017
3,777
I had a credit of 4695.00 under Adjustments and Other Credits on my loan estimate Under Calculating Cash to Close section... on my Closing Disclosure this amount has been reduced to 1185.00 with no real explanation.... It looks like they didn't subtract the amount of yearly taxes that should be paid by the seller (from 01/01 to my proposed closing date next week)
 
Ziltoidia 9

Ziltoidia 9

Member
Oct 25, 2017
6,144
Grouch Douglass said:
I had a credit of 4695.00 under Adjustments and Other Credits on my loan estimate Under Calculating Cash to Close section... on my Closing Disclosure this amount has been reduced to 1185.00 with no real explanation.... It looks like they didn't subtract the amount of yearly taxes that should be paid by the seller (from 01/01 to my proposed closing date next week)
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I remember mine changing around a lot also, I kept asking about it and they would give me an answer but I never really understood. I'd just sit down with the original, think of all the expenses that you knew would be needed and try to backtrack where the source is. The owner should be paying the taxes up until close date, then you will likely be giving them advances on the taxes for the rest of the year. There is insurance also that you are probably going to be prepaying.
 
Desi

Desi

Member
Oct 30, 2017
4,210
I recently found a house that I loved and ticked the majority of my boxes. Viewed this one about three separate times and each time wanted it more and more. Got my pre-approvals together them saw the monthly. My budget is pretty strict and this $200-$300 over makes me a bit uncomfortable. Have to let it go for now.
 
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Dartastic

Dartastic

One Winged Slayer
Banned
Oct 25, 2017
3,779
Desi said:
I recently found a house that I loved and ticked the majority of my boxes. Viewed this one about three separate times and each time wanted it more and more. Got my pre-approvals together them saw the monthly. My budget is pretty strict and this $200-$300 over makes me a bit uncomfortable. Have to let it go for now.
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My girlfriend and I just put an offer in today on a new construction house. I'm going like, $200 a month or so over than I'd like also, but that's only for a year or two while we need mortgage insurance. I'm also more okay with going over because I won't have to worry about shit breaking constantly, as it's new and under warranty.
 
BMW

BMW

Banned
Oct 25, 2017
2,703
The rates are beautiful right now. I recommend everyone that can buy a house to do so.
 
Briareos

Briareos

Member
Oct 28, 2017
3,043
Maine
The rates are great but in many markets prices are still high. I've been thinking of buying a house for my parents but the inventory just isn't there at the prices I'd want to spend.
 
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