My husband and I are much closer to being first time home buyers!  It’s been such a long drawn out process!  We are working our way toward closing.  We are purchasing a HUD foreclosure home in Ohio.  Working with HUD and their property management staff has been a bit difficult.  They have a lot of ridiculous rules and seem to be slow about responding to communications.

We got our estimates for our contractors that will be installing a new water heater and carpet.  We are now waiting on our bank to get a second appraisal that will give them the “improved” value.  Once that is done, then we can apply for our first time buyer grant money with the Columbus Housing Partnership.  Then we just have to wait for that to come through and hope it shows up before our closing date at the end of February.  Otherwise, we have to pay HUD a $25 per diem.  That is really annoying.

I want to say that not all banks are created equal.  Definitely do your shopping around and be thorough about it.  We have gone through 4 banks in the process.  Their costs were all different and the way their procedures vary as well.  Also make sure that they have experience with the grant program you plan to use.  I had banks telling me totally different things and practically calling each other liars.  It’s been insane.  Also, be prepared for the numbers they give you in the beginning to change a lot.

In the end, I chose a bank that was a small amount more expensive just because their customer service blew the other banks away.  My mortgage banker with Union Savings has been absolutely fantastic.  He has gone above and beyond.  He made himself available late at night, on the weekends, and was always super fast at getting back with me.  Let me tell you from personal experience, customer service is VERY important.  The other bankers didn’t seem like it was very important to them.  Like they didn’t care if they got our business or not.  You get what you pay for I guess.

More updates soon!