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Well I did what I always call people idiots for doing: went out and made an offer on a house without even having secured financing. We applied last week and won't hear if we are approved until Wed this week. But we found our perfect house on Friday. So on Saturday we made an offer and they have till 2 today to let us know. Our lender assures us he feels "pretty confident" we'll be approved, but the waiting is killing me. I should know better.
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May 11, 2009 14:40
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| # ¿ Apr 30, 2024 15:28 |
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We have found a house and are under contract. YAH! The curernt owners would like to rent the home back from us for 30 days after closing. We are ok with this, but want to make sure we don't somehow get screwed. We plan on writing up a rental contract, but has anyone actually done this? Or does anyone have any tips or suggestions? As far as not using realtors, I both bought and sold a home wihtout one and the process was much smoother that it has been this go round with a realtor. Unless the situation is complex(shortsale, foreclosure) I would not use one personally. We kinda got roped into this one, as she's the bosses wife. We found the house, all she appears to have done is forget to schedule things, delaying a process she is supposed to be helping with.
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May 22, 2009 04:00
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Just stopping by to empathize with you guys who haven't locked rates yet. I learned last week ours wasn't locked and had likely gone up and freaked out. Thank goodness we got it locked yesterday at 6%, which is what we were quoted a month ago when we started this process and is the number I have been doing all my figuring at. I breathed a big sigh of relief. We close Friday! I'm nervous. This new house is a $300 a month jump from what we are payng now in rent. My budget says we can afford it, but I still worry.
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Jun 16, 2009 14:45
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Closed this morning! Only hitch was an incorrect middle initial, took about 20 minutes to fix! I'm so glad to be done with it. Bring on the actual moving!
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Jun 19, 2009 20:50
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I just wanted to say that the home warranty that I didn't care about when I bought the house saved me ~$400 this weekend on a furnace repair. Get the warranty and don't forget you have it, like I did!
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Dec 15, 2009 01:27
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I didn't see a refinance thread, so I'll just ask this here. 12 months ago my husband and I bought a house at 6% interest, giving us a monthly payment of $1503. We can now refinance this loan at 5%, which, by my calculations will save us about $100 a month. Is this a good idea? I think we will be paying about $3500 in closing costs. I'd like to save $100 a month and clearly we would save interest over the 30 years of the loan. I just want to make sure it's worth it to start the loan over and add a bit more in closing costs for 1 percentage point.
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Jul 14, 2010 22:16
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| # ¿ Apr 30, 2024 15:28 |
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I'm doing a FHA streamline, which apparently doesn't require another appraisal. We might not stay in the house for 30 full years, but we expect to be here a long time, probably at least 15 years. I've checked out a couple of calculators and it seems to take between 1-2 years to recoup the costs. At this point, it seems like a pretty good idea.
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Jul 15, 2010 06:23
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