Whew, we met with the mortgage broker tonight. Although there are a few weird things to clear up (such as getting the additional loan written up as a promissory note; our lawyer friend said he would handle that), the credit and income and retirement stuff is all in order and so everything should go through as long as under-writer is cool with everything and inspection and appraisal go OK. Mortgage broker is very bullish on housing prices in our area, but he's not the appraiser or inspector so we shall see.
We got a nice rate of 3.75% locked in, so if the promissory note payments come in as estimated, our bills may be $100 or so less per month. Due to something with FHA and low rates, we don't have a loan origination fee. Somehow our closing costs came in a shade under $9000 which is what we said the seller would pay up to. (What would we have done if the loan origination fee pushed that over? I shudder to think.) So the good news is the appraisal will be covered in closing costs.
NT couldn't come and had to sign everything at home, so next step is to courier the papers back to the broker. If inspection on Friday goes well he'll schedule the appraisal.
Whew! I'm drained, but there were surprisingly few bumps tonight. This was the scariest of the hurdles left to clear, so I'm feeling a lot better.
Oh, and I did a League of Ordinary Savers blog post this week, about checking bills, receipts and paychecks to save money by preventing human error. Of course I'm preaching to the choir on SavingAdvice, but check it out if you want! Go to ordinarysavers.com (I'm too tired to make a link! ).
Another hurdle cleared! and new Ordinary Savers post
June 12th, 2014 at 04:46 am
June 12th, 2014 at 05:16 am 1402546605
Considering a full month is either 168 or 176 hours that is major issues. And HR was pretty blasé about getting it taken care of until I brought in my union rep, the union attorney and thei HR executive staff person. Hahaha! Don't mess with my time.
The outcome is that I have to go back and audit ALL the time they have entered for me (I don't trust them) so they can take care of this. I hope a new job comes through and want all this resolved.
When I told our union person and they sent an email to all the union staff in our agency and requested complete records for our staff for the past 5 years so staff can check their time. We have 200+ members of our union at the department so....screw with me and the union will make you do more.
Reconcile everything always!
June 12th, 2014 at 05:59 am 1402549155