Mortgage preapproval update!

[tasha41]

My OH & I don't have credit cards... so we have to apply for one and use it for 6 months, GET a credit score, lol then they'll preapprove us for a mortgage.

But they liked the figures they saw in OH's income line and were optimistic about things because I'm going to do distance ed and get a job, even if I work part time still and continue to make $15K/year (which will go up this year as minimum wage went up!) they're happy... but OH's income alone is good enough to get us something

It may be selfish but I want them to base the mortgage on his income alone so we have more money to do other things?

I'm just so happy right now that we're actually on the road to doing something about buying our first house! Hoping to move next spring or summer

 

[impatient1]

Congratulations!

 

[tasha41]

BTW if we go to my bank we don't need a credit card.. OH is just too lazy to switch banks, and mine's a credit union with limited locations.. arggg. Dead cheap though being with a credit union!

 

[impatient1]

Thats great news! I'd try to convince him to look into it. Check out your options and don't rush into anything tho. Right now all my loans are through different banks but it gives me credit with each of them as well so it works out in the end.

Buying a house is fun and amazing but at the same time so stressful.
I didn't realise how stressful it was until I was in the middle of it all lol. I had exactly one week including the weekend (nothing is open on the weekends, silly people) to get everything sorted after making my offer. Had to have the home inspection, insurance acceptance letter, approval of mortgage (found out during this that my mortgage company didn't do mortgages on mini-homes... I was buying a mini-home, so I had to find a new one), and was told I wouldn't need a damage deposit but then ended up needing one. I think it would have been easier to deal with if I wasn't working crazy hours at the time.

I wish you all the luck and hope you have fun doing it!

Oh lol almost forgot found out the next month that I was getting a promotion and about a $15 000.00 a year pay raise. Could have looked at something with a bigger yard if I would have just waited a month lol. In the end tho I love my house and am glad that everything worked out.

 

[tasha41]

Yep I want to wait until I have a job (not that I don't, lol. I'm a McDs manager haha but I want to umm aim a little higher than that and not be on mat leave while we buy!)

It's already stressful to LOOK lol. We've been checking out what we can afford and stuff, it's hard to pick an area you deem "right" for your child to grow up in. I mean I don't want her growing up with a bunch of rich kids just like I don't want her growing up with the hoodlums in some areas here... (not that rich kids can't be hoodlums too!)

And I want 3 beds 2 bath. I want a rec room in the basement.. I know I won't get my "dream kitchen" (brand new with an island etc) but if we go under what we can get with a mortgage with the house's price we could take out more and get the new kitchen I want! Or the hot tub, lol.

 

[tasha41]

I'm so paranoid about buying a house after watching so many episodes of Holmes on Homes though!!! Even when people have paid housing inspectors and professional contractors and such.. the problems!!

 

[impatient1]

Yeah that show was frightening when I was looking at houses!
We just got a mini home and right now we live in a well taken care of trailer park (kids are well behaved and not running the streets at all hours of the night). Our plan is to move it to a "country" area with more land and build a foundation and basement onto it. Right now it's 3 bedrooms, 2 baths (master has a jet tub... so love it!), kitchen with an island and lots of cupboards. It's a good size for us right now but if we move it and build onto it then it will double it's size, and be 2 to 3 times it's value.

 

[Blah11]

I just got the keys to my first house yesterday Very stressful and I've not moved in yet b/c I wanna decorate first but so happy I'm finally in! Yay for the next 25yrs paying off a mortgage!

 

[tasha41]

Yeah that show was frightening when I was looking at houses!
We just got a mini home and right now we live in a well taken care of trailer park (kids are well behaved and not running the streets at all hours of the night). Our plan is to move it to a "country" area with more land and build a foundation and basement onto it. Right now it's 3 bedrooms, 2 baths (master has a jet tub... so love it!), kitchen with an island and lots of cupboards. It's a good size for us right now but if we move it and build onto it then it will double it's size, and be 2 to 3 times it's value.

That so cool!!! I want a jet tub.. but an outdoor hot tub would suffice I'm perfectly happy having long hot baths in a regular tub if I can have my friends over to soak in the hot tub with me

I just got the keys to my first house yesterday Very stressful and I've not moved in yet b/c I wanna decorate first but so happy I'm finally in! Yay for the next 25yrs paying off a mortgage!

I think we will try to get painting, etc. done before we actually physically move into a house and do any other stuff (like replacing cabinets, etc.) Congrats on getting the house. The way I see it 25 years paying off a mortgage, while scary, is much better than throwing the money away on rent if you don't have to

 

[want2bamom]

DH and I just bought a townhouse and it is very stressful!! We were having problems with getting preapproved cause he had crappy credit, so he ended up getting a Capital One credit card and within a month his credit bumped up higher then mine..haha...So now we're just waiting for the bank to call us so we can sign the papers and then go to the notary and sign those papers..haha..very stressful!! We're renting right now so it will be nice to finally get into our own place!! Can't wait, we get possesion July 1st!!!