I am yet to see anyone else start a similar thread this year, so I guess I'll start one up. Building/buying my first home and it's already been quite the journey to get to this point and we really haven't done anything yet lol. Best of luck to all my fellow home builders out there
Home Location: Peoria, AZ
Purchase Price: $397k
Property: House - 4320 sf
Signed Contract on: 1/29/16
Earnest (Deposit) Money: $1k upfront, another 4k due at design center meeting for construction deposit
Lender Name: TBD, pre-approval via builder's mortgage company
Type of Loan: Conventional 30 year fixed, 5% down w/ LPMI
Mortgage credit score: 709
Loan Rate: Estimated 4.625% from builder, 4.375% from another lender I've consulted with. Builder offering 6k worth of closing costs
Construction Status: Forms have been put up for the outline of the house, construction has not yet begun
Application submitted: DU approval, submitted for UW approval
Appraisal Ordered:
Appraisal Completed:
Inspection:
Final Walkthrough:
Went to underwriting:
Underwriting Complete:
Final Approval:
Closing Date: Tentatively scheduled for July or August. No set date as of yet.