Home Buying in Stockton>Question Details

Sun Tzu, Home Buyer in Stockton, CA

Need advice on offer with 45 days closing period, CDAP for down payment to FHA loan and requesting closing cost credit.

Asked by Sun Tzu, Stockton, CA Fri Mar 1, 2013

I live in northern Ca. I am trying to buy a house. I'm using CDAP for my FHA down payment. I've been making offer as much as $15k over the listing price. I'm asking for 45 closing period and $2k-$3k closing cost. I'm struggling to get my offer accepted. Does anybody have any advice for me? Thanks

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Hi Sun Tzu,

As long as you are offering more than the purchase price, the seller paid closing costs shouldn't be an issue. Your 45 day close may not be helping your offer. A 30 day or less close would be more appealing to the seller.

Get a Pre-Approval from your lender to submit with your offer, not just a Pre-Qualification letter. The Pre-Approval will show the seller that you are an Approved Buyer, plus, you should be able to close within 2 - 3 weeks once you have been Pre-Approved.

Please feel free to contact me directly if you have any further questions, I'd be glad to help. Good luck with your offers!

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct


We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline refinance loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, VA Refinance loans (NO appraisal required on IRRRL loans), USDA loans, Jumbo loans, Conventional loans, plus, we allow Escrow Hold-Backs!
Web Reference: http://www.ezAZloan.com
0 votes Thank Flag Link Sat Mar 23, 2013
Yes, hire/work with an experienced Realtor that can struture your offer so it is attractive to the seller.
0 votes Thank Flag Link Wed Mar 13, 2013
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