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madamcleo

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  1. This is interesting. Who decides how long before I can use the appraised value? I feel like I read the mortgage docs pretty carefully, focused on no early repayment penalty, but didn't see anything referring to how long before I can refinance. (but there were a gazillion pages). My LO at the closing was talking to me about refinancing into a conventional to get rid of PMI, based on the appraisal, but said "you will have to wait a year". I hoped she was talking about before I refinanced with her, but maybe that was in the contract. Off to re read a gazillion pages.
  2. Thank you for your answers. I will keep an eye out for the "funded" status.
  3. I closed on my house yesterday, greatest news ever. But now I have questions. Am I free to now request a CLI on a CC? Will the mortgage company check my credit now that we are closed? That may sound dumb now that I am typing it. Also, how long before I can refinance. I did an FHA, my credit score was only 668, too low for conventional. Do not want to be stuck with PMI for longer than necessary. We purchased at 55% LTV per the bank performed appraisal.
  4. I totally understand that the underwriter needs to know the source of all funds, but will "it is money from my husband" suffice? We have separate checking accounts so he would be writing me a check from the loan proceeds.
  5. My husband and I have been approved for a mortgage and made an offer on a house. Yay, it's been a journey. Although we have saved enough for closing costs and down payment, paying both will leave very little "emergency money" in my savings account. My husband's income is not included in our mortgage approval. Can my husband borrow money and "gift" it to me, or will the underwriter ask where "his" money came from? Thanks in advance, sorry if this has already been answered somewhere. I really did look.
  6. Congrats!!! Welcome!!! Thank you, I am excited. So thankful for what I have learned here.
  7. Newbie but long time lurker driven to post because of this thread. After reading these 69 pages I decided to apply for a savings and a cc, all yesterday. Was approved today first for the CC, 5k. I called and spoke to a very helpful woman, sent my docs, she upped my limit to 10k. While we were on the phone she updated my savings from pending to approved. Not sure the last time I saw such great customer service. I think I am going to like these people. Also checked my Ex, and Equi, so far no HP.

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