Extra Stuff - House related
May. 25th, 2004 01:55 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
dancerjodiOne 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.
![[identity profile]](https://www.dreamwidth.org/img/silk/identity/openid.png){kind=small}
no subject
Date: 2004-05-26 07:03 am (UTC)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
From: