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I am moving to Washington state from Arizona for a new job where I will be making considerably more money. The rental situation at my destination kinda sucks for my needs, so buying seemed like a possibility. Should I assume that trying to get a decent loan in this situation is unlikely? I have a good credit score, no dings on it, and no ongoing debt. Does it make more sense to grit my teeth and deal with a mediocre rental climate, socking away as much money as possible towards a down payment, and acquire realistic yearly W2s/paystubs for my new position?
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Apr 23, 2013 23:31
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| # ¿ May 15, 2024 16:53 |
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Trillest Parrot posted:Doesn't hurt to get a quote from a lender. The amount they'll give you is mostly based on your income. I told the loan officer working my loan that my pay stubs didn't reflect the raise I just received and she was pretty receptive. You may have a problem since your job is new, but, again, doesn't hurt to ask. Don't worry, I'm gonna be out in the east part of the state, I promise not to take your house@
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Apr 24, 2013 15:58
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That was what I had figured initially, and am back to figuring, but I guess I just had a tantrum of "gently caress you landlords, I'll just buy my own house instead, how about that?" because I haven't found the right place... on the internet... from 1000s of miles away. I've posted a CL housing wanted ad specifying what I want, we'll see if that gets any hits.
I like turtles fucked around with this message at 20:07 on Apr 24, 2013 |
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Apr 24, 2013 20:04
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Definitely, if I was looking for a rental apartment I think I'd be all set, there are quite a few around, but I've gotten spoiled on renting single family homes and that makes it more tricky, unfortunately.
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Apr 24, 2013 23:10
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Insane Totoro posted:I'm closing on Monday! HEY INSANE TOTORO BUY A HOUSE
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Apr 27, 2013 01:44
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I'm in the tri-cities area of Washington state. I've found an excellent place I'm very interested in, and made an offer, got a counter back today. They're very attached to their washer and dryer for some reason, but whatever. Where I'd like independent advice is the following: It is, of course, the end of March. The seller's new place won't be available for closing until June 28th. I'm not 100% sure what the deal is with the seller's new place, my realtor said she thought they were building or something. My lender has said they can guarantee rates for 45 days. My closing date is tentatively May 13th. We'd be doing a weekly delayed possession rental agreement on the place up to, at latest, July 8th. Other than verifying with my lender that these dates line up, and that the ~60 day window is legit for purchasing as an owner/occupant according to that lone, what should I be doing here? Does it make sense to: Try to delay so that I can actually close on 7/8/14, with whatever happens with rates being a total unknown between now and ~May 26th? See if I can purchase a rate guarantee out 90-ish days instead of the available 45? I mean, if I can do it for a few hundred bucks or something, that seems like a good way to alleviate headaches associated with delayed possession. Just do the delayed possession rental? Do something else? Edit: It occurs to me that since they're committing to basically pay me rent to stay there the ~2 months they'd need to move out, if I can pay less than that to lock my rate, I can take that off the top of my offer. Every little bit helps, seems like a potentially pretty good investment if they lock isn't a huge cost. I like turtles fucked around with this message at 03:10 on Mar 31, 2014 |
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Mar 31, 2014 02:44
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I found out I can boost my 45 day lock to a 90 day lock for like $163, which would give me a closing date of early July. That seems like the easiest way to go, not have to fuss with the rent back agreement. My counter is in, we'll see what they come back with.
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Apr 1, 2014 07:32
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I can lock at 4.5% if I pay a 1% of loan amount origination fee, or at 4.625% with no origination fee. I calculate it will take on order of 7-8 years to break even on the extra ~$1300 I'd be spending on the loan origination fee. So far I've been of the "get the lowest rate possible period" school but... yeah. Thoughts?
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Apr 9, 2014 01:13
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My file is through final underwriting, and is on its way to the escrow company. I give them money this week or next probably, close on the 26th, take possession on the first 
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Jun 17, 2014 20:35
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They're going to dig deep enough into your financials that the fact you had a low paying job for an older W2 99.999% won't matter. If you get a weirdo loan officer or underwriter or whatever, and they flip out over it, find another place to get the mortgage. Also I closed yesterday. Home owner
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Jun 28, 2014 06:02
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gently caress carpet tack strips, especially those with 3" long nails going into otherwise gorgeous hard wood.
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Jul 1, 2014 16:17
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So I think Jastiger is in Fort Walton Beach, Florida
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Sep 17, 2014 05:47
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| # ¿ May 15, 2024 16:53 |
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I had a ~25 minute highway drive into work for a while and it was fine. That's not an hour+ obviously, but it was still a ways for me. Two major points: 1: You'll get used to it pretty quickly 2: Many local libraries offer free access to sites like overdrive.com - audio books are your friend.
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Oct 11, 2014 19:05
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