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Help!! I Think I screwed up bad.

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About noon on Friday I got the conditional approval from underwriting. 5 conditions, and meet 4/5 by COB Friday. Submitted the 5th on Sunday, so it was waiting for them (the mortgage company’s processor) this morning. One of the conditions included documenting a large deposit in July. That was the one that had to wait, b/c the July stmts hadn’t been issued yet, so I couldn’t use them to show that it was merely a transfer from savings to checking (different banks). Obviously, they (the mortgage company’s underwriting) saw it somehow w/o the statement.

 

That deposit isn’t the problem, like I said, it was just a transfer of my own money from savings to checking.

 

Saturday night, I spent about $160 online, two separate transactions. Left my wallet in the car, & was parked around the corner, so I just pulled a card from my sock drawer. There are reasons why those cards are in a sock drawer!! They are my original cards from when my credit scores were atrocious, and have CLts reflecting that. $160 out of a $500 limit is over a 30% balance!! It didn’t even occur to me. I was thinking I would PIF BEFORE the statement cuts, like I always do, and nothing would have ANY effect on the mortgage going through.

 

But the mortgage company saw the July deposit w/o a statement. Will they see the $160 worth of transactions? I’ve already tried paying it before they post, but my bank & the credit card issuer are both USAA. Their website won’t let me pay until the transactions post. I already called in to customer service to see if they could push the payment through, but then can’t.

 

Everyone always says not to buy ANYTHING until after you close. But they always say “furniture,” or “a new car.” This was stocking up on shampoo and my dog’s stupidly expensive prescription dog food b/c she’s in kidney failure. It didn’t strike me as a big purchase. Except it is on this card. It wouldn’t be on a different card w/ a more normal CL. Or a card issued by a bank OTHER than my regular bank, so that my regular bank wouldn’t see that the card has no balance (yet).

 

Have I totally screwed this up?

Will the mortgage company see it?

Will this set closing back a couple of days (tentatively scheduled for 8/14) while I prove that I have paid it?

Will they just factor it into DTI?

Could factoring it into DTI derail the entire approval? I’m at 36% back end DTI as it is w/ NO credit card debt b/c of massive student loans.

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No to all of it, it is only $160 and I dont think DTI ratio will effect by much. Worst case scenario they will ask you to pay off the $160, which I dont forsee.

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Thanks John Wilkers!

 

Everyone I have talked to so far thought I was just being stupid. But none of them have ever bought a house before either. So I panicked. Still itching for those transactions to post so I can pay them, but less panicked.

 

If anyone else could explain what and how the mortgage company sees in the last few checks prior to closing, it might make me feel better. Or if you just could tell me that you know for a fact that I'm being stupid and can relax, then I would definitely feel better!!

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I know for a fact you're being stupid, lol.

 

Don't stress this a bit, pay it as soon as the transaction goes from pending or push a payment via your bill pay. You'll be fine, this is not a late or a collection, it's a current month transaction.

 

Very sorry about your dog, enjoy every day with her while you can.

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Thanks! I needed that.

 

I want to laugh b/c it must be ridiculous. But I am so genuinely worried that the humor is staring me in the face, but I can't laugh.

 

The puppy is good for now. Part Husky, part golden, part Aussie. So her breed average is probably something like 12, but she turned 14 in March. There's arthritis, some hearing loss, the kidney failure, and she had a few teeth removed a last year too. The kidney failure is just starting, no real symptoms yet. Just the high creatinine levels (or chromium? I forget, something w/ a C), and they ruled out a routine UTI as the cause. The vet switched her food, to try to keep the symptoms at bay.

 

In my equally silly obsession w/ the dog, I firmly believe that she is going to live forever. Which is why it's so sad to see her not in perfect health. Forever is a loooooong time to be dealing w/ chronic ailments that are starting to pile up.

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Hey man, it's amazing how those little creatures can so quickly become a part of the family. I pray that you have many more years to enjoy your new house with your pup. There is exactly ZERO chance of that charge affecting your close. The lender will not pull scores again, so that won't affect you. I doubt a 25 minimum payment added will affect your DTI, and I don't think they'll ever even see the charge. You are good to go. Don't worry about this at all, worry about decorating the new pad and making the dog comfortable. :)

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Thanks! I needed that.

 

I want to laugh b/c it must be ridiculous. But I am so genuinely worried that the humor is staring me in the face, but I can't laugh.

 

The puppy is good for now. Part Husky, part golden, part Aussie. So her breed average is probably something like 12, but she turned 14 in March. There's arthritis, some hearing loss, the kidney failure, and she had a few teeth removed a last year too. The kidney failure is just starting, no real symptoms yet. Just the high creatinine levels (or chromium? I forget, something w/ a C), and they ruled out a routine UTI as the cause. The vet switched her food, to try to keep the symptoms at bay.

 

In my equally silly obsession w/ the dog, I firmly believe that she is going to live forever. Which is why it's so sad to see her not in perfect health. Forever is a loooooong time to be dealing w/ chronic ailments that are starting to pile up.

We can't keep them forever, except in our hearts and memories. I speak from sad experience, so hard.

 

A Dog's Prayer

 

Treat me kindly, my beloved master, for no heart in all the world is more grateful for kindness than the loving heart of me.

 

Do not break my spirit with a stick, for though I should lick your hand between the blows, your patience and understanding will more quickly teach me the things you would have me do.

 

Speak to me often, for your voice is the world's sweetest music, as you must know by the fierce wagging of my tail when your footstep falls upon my waiting ear.

 

When it is cold and wet, please take me inside... for I am now a domesticated animal, no longer used to bitter elements... and I ask no greater glory than the privilege of sitting at your feet beside the hearth... though had you no home, I would rather follow you through ice and snow than rest upon the softest pillow in the warmest home in all the land... for you are my god... and I am your devoted worshiper.

 

Keep my pan filled with fresh water, for although I should not reproach you were it dry, I cannot tell you when I suffer thirst. Feed me clean food, that I may stay well, to romp and play and do your bidding, to walk by your side, and stand ready, willing and able to protect you with my life, should your life be in danger.

 

And, beloved master, should the Great Master see fit to deprive me of my health or sight, do not turn me away from you. Rather hold me gently in your arms as skilled hands grant me the merciful boon of eternal rest...and I will leave you knowing with the last breath I drew, my fate was ever safest in your hands.

 

--Beth Norman Harris

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Hey man, it's amazing how those little creatures can so quickly become a part of the family. I pray that you have many more years to enjoy your new house with your pup. There is exactly ZERO chance of that charge affecting your close. The lender will not pull scores again, so that won't affect you. I doubt a 25 minimum payment added will affect your DTI, and I don't think they'll ever even see the charge. You are good to go. Don't worry about this at all, worry about decorating the new pad and making the dog comfortable. :)

While I agree with everyone 160 won't affect the decision, and I really hope your puppy is okay and lives a long active life. I did want you to know the lender will pull your credit most likely right before funding/closing.

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Awww, thanks guys. I appreciate it. Both the mortgage info & on the puppy. She is a happy, well spoiled dog. One of the things I am most excited for at the new house is a back door on the back of the house. Our current rental, and the one before that, had back doors on the sides of the houses. When the dogs went around the house, into the back yard, they can't see you when it's time to come in. Trying to find a deaf dog in the dark is frustrating. Especially since she's stubborn to begin w/. Now I'll be able to see where she is out there!!

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Hey man, it's amazing how those little creatures can so quickly become a part of the family. I pray that you have many more years to enjoy your new house with your pup. There is exactly ZERO chance of that charge affecting your close. The lender will not pull scores again, so that won't affect you. I doubt a 25 minimum payment added will affect your DTI, and I don't think they'll ever even see the charge. You are good to go. Don't worry about this at all, worry about decorating the new pad and making the dog comfortable. :)

While I agree with everyone 160 won't affect the decision, and I really hope your puppy is okay and lives a long active life. I did want you to know the lender will pull your credit most likely right before funding/closing.

A refresh, but not scores. They may see the charge if it posted, but no way it could push dti over the edge.

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I doubt $160 is going to make a big difference in your debt to income ratios they approved you for, and what they will be looking at. People have to live ( spend money for groceries, etc ) even when apping for a mortgage. One small charge won't kill ya, You'll be fine. If you are worried about it, call your mortgage broker and see if he/she thinks you should write a check and send in the payment.

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The $160 can impact you in the following ways:

 

1) Credit Score - The mortgage company pulls for scores once at the beginning of the application. Before close they pull your credit report again to make sure nothing new has shown up or drastically changed. they do _NOT_ look at your scores at this point. So you don't have to worry about it sinking your score.

 

2) Debt to Income - Even if the card posts, the minimum payment is probably about $25/mo. If you are cutting it that close on your DTI already you may wish to consider a smaller house, or putting more money down in the first place. That is really the main factor. Will $25/mo impact your DTI.

 

If the $25/mo increase on DTI is a problem. When does the credit card statement cut? Do you have enough time to let the charge(s) post and PIF the card before it posts?

 

Finally, if you are truly worried about it. Just go mail them a check.

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Thanks guys!! Sounds like I'm being stupid. I am NOT great w/ math. I believe there is already a $25/month min payment in their DTI calculation for a different card, which is now a zero balance (was like $35 at the time they pulled for scores on 5/7). One of my concerns was that since this balance is on a different card, if it would add ANOTHER $25.

 

I actually NEVER report a balance on ANY card other than like one transaction that isn't posted or something ahead of time, so I can't pay it off in time to NOT report. Horrible at guessing when charges will post. I even plan to pay THESE charges for $160 before that bill posts. But I'm scheduled to close on 8/14, and that stmt will not be issued until AFTER closing. Wasn't sure if the mortgage company would make me wait to close until I prove the paid charge w/ the statement issued way at the END of the month or something. This was my main concern, more about time than money.

 

I think my current DTI is 35% b/c of student loans. There's not much lower I could go on the price of the house; but I did get my annual raise last pay check. If they did the math again, I would be BELOW 36% now. But again, the concern is time rather than money. Don't want to go back to square one to document my new salary and all my balances.

 

Thanks guys, seems like I Was just second guessing myself and being stupid. Appreciate the input.

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Oh, and putting more money down is an option. I have some set aside for finishing the basement once I own it. But just don't want to go back to the beginning now that I have the conditional approval and am w/in days of closing. I just thought I had stupidly jeopardized all of that w/ a couple of charges.

 

Thanks again!

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Supposed to be closing in about 4 hours.

 

My head is still spinning!! No clear to close until Tuesday morning, problems re-verifying my employment yesterday, and never actually got the number or instructions from the title company as the realtor & loan processor both said I would. But the realtor and loan processor each spoke w/ the title company & it all seems to have FINALLY fallen into place.

 

Grabbed the certified check juuuust before they closed yesterday. I bank at USAA, so there's like one physical branch on the entire east coast over at the Pentagon. Had to dash from my office in time to get there before they closed by the time I got the cash to close number from the loan processor.

 

Picked up paint samples this morning. About to hop in the shower, then do the last walk through at noon. Then hopefully time to grab some stuff at home depot on the way to closing (rollers, paint brushes, sand paper, lawn mower, new locks, etc). Then I'm buying cupcakes to leave at the Loan Processor's office on my way back from closing.

 

Finally tonight, there is a pizza & paint color selection party at the new house.

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It all went off on Friday ... eventually.

Originally scheduled for 10, then Thursday they said 2 pm. Then doing the walk through at about noon on Friday they pushed it again to 5:30. Something about needing confirmation of a wire from the seller's mortgage company. Then at 5:30 the title company still hadn't received the confirmation. So we called one last time to check. At that point the banks were closed, so no point it standing around waiting if they hadn't gotten it yet. But they had it! So we trucked off to Crofton to do the closing there at the title company's offices, since they had agreed to wait for us rather than push it to Monday. But it finally closed.

 

Now I've got 2 weeks exactly to pack & clean at the old place, paint & clean at the new place, have some electrical & plumbing stuff from the inspection report taken care of at the new place, and move.

 

I'm overwhelmed all over again!! But sooooooo happy it's finished. NEVER WANT TO DO THAT AGAIN!!

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It all went off on Friday ... eventually.

Originally scheduled for 10, then Thursday they said 2 pm. Then doing the walk through at about noon on Friday they pushed it again to 5:30. Something about needing confirmation of a wire from the seller's mortgage company. Then at 5:30 the title company still hadn't received the confirmation. So we called one last time to check. At that point the banks were closed, so no point it standing around waiting if they hadn't gotten it yet. But they had it! So we trucked off to Crofton to do the closing there at the title company's offices, since they had agreed to wait for us rather than push it to Monday. But it finally closed.

 

Now I've got 2 weeks exactly to pack & clean at the old place, paint & clean at the new place, have some electrical & plumbing stuff from the inspection report taken care of at the new place, and move.

 

I'm overwhelmed all over again!! But sooooooo happy it's finished. NEVER WANT TO DO THAT AGAIN!!

 

that is not fun... i would have been so nervous if that happened like that to me... i bet that day felt like weeks... i'm sorry for you but so glad it worked out in the end!

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Thanks, it was rough. But there was lots to do that day too, like setting up all the utilities & changing my address w/ banks, credit cards, bar assn., my job, the DMV, the post office, etc.



Still never want to do that again.



Still have TONS of projects at the new house & need to pack/move. But excited b/c I never HAVE to do that again either!!



Thanks so much to everyone on this site. Probably wouldn't have happened until 10 yrs from now when my student loans are forgiven w/o you guys.



Thanks again, and good luck to everyone else.


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