We thought that we were ready to close last Friday (the 30th). The way it sounded, our loan had already gone to the USDA and we thought that we would be closing much sooner than we had expected.
However, when we called our lender to get confirmation and to ask a couple of questions, we were informed that our loan was stuck at underwriter and had encountered a few hiccups. At the time, our lender sent us a text telling us he couldn't talk to us about it in depth (it was too late at night), but he told us he would call us in the morning. He also told us not to worry about it.
I felt a great deal of peace, so I didn't worry about it too much while I waited for him to call the next morning. However, it wasn't until Wednesday afternoon that I heard from him.
He called back and explained that even though we were making enough that our debt to income ratio would have been more that sufficient for most loans, the USDA required that the loan be only 30 something percent of your income instead of 48%. They thought they had already solved that problem by having the company that Grig works for sign a paper saying that his average of 48 hours a week was required, but the underwriter was now telling them that they couldn't count any of Grig's overtime because he hadn't worked there for two years yet.
Before I could even start worrying about it, he told me that the loan was going to go through one way or the other, and they were willing to do a reduced interest rate to make up for the extra hours if we were willing to bring $1000 to closing. (Originally, we weren't going to have to bring anything to closing).
On the previous Friday, we had submitted our taxes, but we hadn't quite gotten our tax returns back yet. We had been planning to pay the rest of Grig's school loans with the tax returns, but now we decided to put $1000 of it toward closing costs. The reduced interest rate had lowered our monthly payments by nearly $100, so in ten months, we'd make up for the $1000 that we were spending at closing. It is also going to save us around $20000 of interest money in the long run. Our monthly payments are now going to be only slightly more that what we are currently paying for rent.
It is a miracle. It's a miracle that we couldn't have even have prayed for, because we didn't know it was possible. We weren't planning on moving right now, but we felt impressed that we needed to do so. We weren't planning on buying a home, but we have been brought to the home that we know the Lord intends for us to purchase. We didn't know for sure how we were going to pay for everything, but the Lord has opened a way and directed us to the correct real estate agent who directed us to this incredible lender who is willing to do this awesome thing for us.
We are so blessed and grateful. I know some of these blessings have come because we are trying our best to keep the Lord's commandments and follow the promptings that we've received from Him. I know that as we've paid tithing, we've been given sufficient for our needs.
I can't even tell you how grateful I am, right now, and how excited.
The last loan went through in three days, so we should be closing by this Friday. I'm starting to pack a little bit and deep clean things in preparation.
Thank you for your prayers and interest. We know many of our blessings have come through prayers from others in our behalf.
The Lord loves each of us, and He takes care of us. Trials often turn into blessings, and we are pretty excited for this one!
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| We are so excited for the yard! |
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