Mortgages, Inspections, and Paperwork...Oh My!

One hour after our offer was accepted on Monday we got a call from the mortgage broker we had been working with since last fall. He decided to just now inform us that they no longer do mortgages for government run bank owned homes. Fantastic. It really put a damper on the day because John and I both had to spend quite a few hours finding a new mortgage broker. Thanks to our agent though, he has plenty of good contacts for mortgage brokers and we were able to get in with a very experienced guy that same day. He got us our pre-approval within an hour and we scheduled a meeting for the next morning to do the full application and get the loan paperwork started.

Tuesday morning, we dropped the boys off with Karla and went to our meeting. Our real estate agent joined us because we had some more paperwork to sign to get the purchase agreement finished and sent off to the government office in Seattle. It was overwhelming and my head was spinning by the time we left. Buying a house is one of the most stressful things I've ever experienced.

So right now, John is meeting with the mortgage broker again to sign some more paperwork and get the final numbers on our down payment and closing costs. We have the home inspection scheduled for next Tuesday morning and hope that nothing major is discovered. We're definitely further in this process than we have been before, but I'm still a little wary. I am going to avoid doing any packing or pre-packing organizing until the inspection is finished and we get the OK on that end. I realized yesterday that I'm too terrified to get excited right now. And I don't think I'll really be able to breath until I have those keys in my hands and I can walk through the front door.

We have a tentative closing date of June 24th, as the government paperwork states that the closing date must be no later than 45 days from start of contract. That's our 45 day mark, but our mortgage broker thinks it won't take that long. We should have a better idea after the inspection.