dancerjodi (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
dancerjodi) wrote2004-05-25 01:55 pm
dancerjodi) wrote2004-05-25 01:55 pm
Extra Stuff - House related
One thing's for sure, going with a mortgage broker rather than the local bank has caused more work for us. There are more things to fax, sign, etc than the last time. Granted, our broker is a great guy and got us a kick-ass loan program - WAY better than one we'd find from any bank or credit union on our own. Still, its been a lot more phone calls, faxing and digging for documents.
On a related note, selling a house and buying one at the same time is WAY more complicated than just buying alone. We had a buttload of $ in our savings, but took it out of the account to put a deposit down on the new house. Now I need to provide the bank copies of 2 months worth of bank statements and the canceled deposit checks to verify that we did have the money in our account. This should be interesting, since we use 2 different checking accounts and transferred money between them (and our 2 different savings accounts) back and forth. They like to see some $ in the savings account and right now we have very little due to that fat deposit check. The first time around - the money just sat there until closing save for a MUCH smaller deposit, and we turned the rest over in the form of a bank check. We also had money in the account left over after closing. We'll have $ left over after selling our house and putting down in Waltham . . . but that's not money in our hands right now, its money to come from our sale. Similarly, we had to fax over our current mortgage statement and the P&S for the sale of the Framingham house to prove that we'll have profit from it to put down in Waltham.
Geesh! Three weeks and its over.
On a related note, selling a house and buying one at the same time is WAY more complicated than just buying alone. We had a buttload of $ in our savings, but took it out of the account to put a deposit down on the new house. Now I need to provide the bank copies of 2 months worth of bank statements and the canceled deposit checks to verify that we did have the money in our account. This should be interesting, since we use 2 different checking accounts and transferred money between them (and our 2 different savings accounts) back and forth. They like to see some $ in the savings account and right now we have very little due to that fat deposit check. The first time around - the money just sat there until closing save for a MUCH smaller deposit, and we turned the rest over in the form of a bank check. We also had money in the account left over after closing. We'll have $ left over after selling our house and putting down in Waltham . . . but that's not money in our hands right now, its money to come from our sale. Similarly, we had to fax over our current mortgage statement and the P&S for the sale of the Framingham house to prove that we'll have profit from it to put down in Waltham.
Geesh! Three weeks and its over.
no subject
BTW, thanks for the heads-up on the Home Despot paint sale this weekend in your more recent post. I'm going to stock up! :)
House stuff
Yep. For instance, the other loan we were going to go with didn't even require an appraisal since we were putting 20% down but World Savings does. Our credit rating is great, our income is fine . . . I think they may be concerned that we don't have a massive savings (and we *did*, but took it out to make that deposit . . . so now they want proof that we did have it in there).
"BTW, thanks for the heads-up on the Home Despot paint sale this weekend in your more recent post. I'm going to stock up! :)"
No problem! It was in a circular that was in this morning's local paper. 5 day sale, starting on Thursday. We'll be camping from Friday - Monday, so we'll need to get it Thursday night. I know Glidden isn't a fancy brand or anything, but we used it for most of our current house and had no problems with the quality. It goes on easy, good consistency, dries fast and has held up well. I also tested the washableness of it last week when I took some pictures in the bathroom off the wall and had to wash off some soap scum. How soap scum made it across the room and behind a print - I have no idea! But either way, it washed off nicely (we bought stuff with a satin finish)