Skip to main content

Just Closed at 2.375% w/ a VA Loan, Details in comments for those interested.

- We are in the N. OKC area (Edmond), this was a new construction home from the ground up. 4 bed, 2 Bath, 1900 SF in a great part of town with all 10/10 schools.

- 30 Year fixed VA loan

- Purchase Price was 269K, we put $2K in earnest and $2.1K in out of pocket upgrades

- We did NOT buy down points.

- Locked in the rate exactly 30 days ago.

- The lender charged $1,095 for the loan/origination fee and gave us slightly over $2K in lender credits

- We put $0 down and financed the VA funding fee. The funding fee goes directly to the VA

- The builder gave us $2K in closing cost credit.

- We paid nothing at closing and paid the VA appraisal fee of $500 out of pocket about 2 weeks ago.

​

I cant think of any of the other big points or key take-aways but i have all the info and can answer any questions from the buyers perspective if anyone wants. We are a regular family of 5 with average income and great credit. We are super stoked and couldn't be more excited.

​

*EDIT - closing was today at 3.

submitted by /u/aStinkyLoad
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/j1ovci/just_closed_at_2375_w_a_va_loan_details_in/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more