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