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05/19/2005 01:56:59 PM · #1
My wife and I are getting ready to head to the bank to try and get a loan to buy our first house..... kinda nervous..... we REALLY want to get out of our apartment, been living here for 5 years, and STILL feel like I'm going into a hotel room whenever I come home....
05/19/2005 01:57:41 PM · #2
Best of luck to ya!
05/19/2005 01:57:46 PM · #3
There is nothing better than home ownership.
05/19/2005 02:01:17 PM · #4
We purchased our home 3 years ago and it DOES make a difference, you feel more settled then. One tip, when each payment is due, try and pay a little extra per month, it can help in the long run. Just watch out for property taxes (twice a year) which can be a killer, unless it is included in the payment.
05/19/2005 02:01:33 PM · #5
good luck and best wishes!
05/19/2005 02:03:50 PM · #6
Need any mortgage application help let me know; I have been in the industry for 25+ years. Glad to help if anything "confuses" you and you can't reach your loan officer. Congrats!
05/19/2005 02:13:33 PM · #7
Congrats Mr. & Mrs. Jewellian! Don't be nervous, before you know it I bet it'll feel like you've been there almost forever. After FIVE years in the same apartment, you certainly do deserve to stretch out at your own place. Best of luck!
05/19/2005 02:23:51 PM · #8
Originally posted by Kylie:

Need any mortgage application help let me know; I have been in the industry for 25+ years. Glad to help if anything "confuses" you and you can't reach your loan officer. Congrats!


good idea, Kylie! i offer my help, too...i was a loan officer/loan processor for many years. i'll be glad to help any way i can!
05/19/2005 02:28:29 PM · #9
Originally posted by sher9204:

Originally posted by Kylie:

Need any mortgage application help let me know; I have been in the industry for 25+ years. Glad to help if anything "confuses" you and you can't reach your loan officer. Congrats!


good idea, Kylie! i offer my help, too...i was a loan officer/loan processor for many years. i'll be glad to help any way i can!


I had no idea you worked in the mortgage industry, too. I used to work in Psychiatry earlier, then fell into mortgage by acccident. I specialize in fraud investigation. So come to me to get your head and wallet shrunk!! lol
05/19/2005 02:45:32 PM · #10
Originally posted by Prof_Fate:

There is nothing better than home ownership.


Well, after 15 years of home ownership I'm trying to get out of it. I'm embarking on a new beginning of my own, and to be free of yardwork, property taxes, repair bills, and insanely expensive insurance, I'm trying to sell my house this summer. I plan to move the kids closer to my job and into a beautiful and spacious town home where someone else does the yardwork, the repairs, and I don't have to worry about it. I sometimes think the "American dream" is highly overrated.

That said, Jewellian, I really do wish you and your wife the best of luck and hope that your dream works out. Owning a home can be wonderful. Fill it with more love than things, and you'll be happy for many years to come. :o)
05/19/2005 02:48:59 PM · #11
Originally posted by laurielblack:

Originally posted by Prof_Fate:

There is nothing better than home ownership.


Well, after 15 years of home ownership I'm trying to get out of it. I'm embarking on a new beginning of my own, and to be free of yardwork, property taxes, repair bills, and insanely expensive insurance, I'm trying to sell my house this summer. I plan to move the kids closer to my job and into a beautiful and spacious town home where someone else does the yardwork, the repairs, and I don't have to worry about it. I sometimes think the "American dream" is highly overrated.


That said, Jewellian, I really do wish you and your wife the best of luck and hope that your dream works out. Owning a home can be wonderful. Fill it with more love than things, and you'll be happy for many years to come. :o)


I hear you, Laurie!!! I loved and miss apartments!!!!!!!!!! I know, I am a sick puppy!!!
05/19/2005 02:54:44 PM · #12
Originally posted by Kylie:

Need any mortgage application help let me know; I have been in the industry for 25+ years. Glad to help if anything "confuses" you and you can't reach your loan officer. Congrats!


Can I also turn to you if I need a mortgage help? the applications and all are old history. The payments... that's the painfull thing :-(


05/19/2005 03:01:34 PM · #13
Originally posted by Jinjit:

Originally posted by Kylie:

Need any mortgage application help let me know; I have been in the industry for 25+ years. Glad to help if anything "confuses" you and you can't reach your loan officer. Congrats!


Can I also turn to you if I need a mortgage help? the applications and all are old history. The payments... that's the painfull thing :-(


Sure - you can turn your payments over to me - as long as you don't mind losing your home!!! lol So far, they have only trained me on collecting the money, not paying it!
05/19/2005 03:01:59 PM · #14
Watch out on your qualification as well. When my wife and I went through mortgage qualification we were astounded at what we supposedly "could afford". If you go by the number they give you instead of your OWN budget, you could get in over your head. Know ahead of time what monthly payment you can handle, and don't look above it when shopping.
05/19/2005 03:04:32 PM · #15
Well, we didn't get to actually do anything today, but we got together all the info we need, W2's pay stubs etc. and got the number of a loan .... officer?.... agent thingy. and will be sneding them copies of all this stuff tomorrow hopefully. We're actually looking at a condo instead of an actual house.... all the benefits of ownership with someone else to do the icky work... :) It's a nice place 920 sq ft. 2 beds 1 bath. For 99,700. nice neighborhood, quiet.... I just really hope it all goes well. My credit history is the only thing I'm really concerned about. I haven't been great at getting my credit cards payed on time... forgot about getting the statement, that kind of thing. I would always pay the full amount when I got the next statement, and when I do pay on time, it's usually more than the minimums, but that stuff doesn't show up on credit reports...... oh well, it really sucks that credit agencies and loan places don't usually take into consideration extewnuating circumstances and stuff.... this past year has NOT been the best for my mental state, my Mom was diagnosed with cancer after a LONG period of being told it was just about everything else, my parents have been struggling financially..... that kind of stuff, so remembering to pay bills on time all the time kinda doesn't happen that much.... BUT I have managed to get 2 of my cards payed off and are now holding a negative balance on them, and I've been making almost double payments on my car loan.... so I really think that we'll get it. Thanks for the offers and if I need any help you bet I'll be asking. eeesh sorry for such a long vent/ rant/ I dunno what.
05/19/2005 03:05:35 PM · #16
How exciting! We just did the same thing and ended up buying our first house much more quickly than we expected. We don't close until the end of June though so now we are agonizing and obsessing!
05/19/2005 03:20:31 PM · #17
Originally posted by cghubbell:

Watch out on your qualification as well. When my wife and I went through mortgage qualification we were astounded at what we supposedly "could afford". If you go by the number they give you instead of your OWN budget, you could get in over your head. Know ahead of time what monthly payment you can handle, and don't look above it when shopping.


I am appalled at what we do these days - making loans to whole communities that can't afford it. They also can't afford to keep the home up, so everyone suffers. Good advice.
05/19/2005 03:22:28 PM · #18
Originally posted by Jewellian:

Well, we didn't get to actually do anything today, but we got together all the info we need, W2's pay stubs etc. and got the number of a loan .... officer?.... agent thingy. and will be sneding them copies of all this stuff tomorrow hopefully. We're actually looking at a condo instead of an actual house.... all the benefits of ownership with someone else to do the icky work... :) It's a nice place 920 sq ft. 2 beds 1 bath. For 99,700. nice neighborhood, quiet.... I just really hope it all goes well. My credit history is the only thing I'm really concerned about. I haven't been great at getting my credit cards payed on time... forgot about getting the statement, that kind of thing. I would always pay the full amount when I got the next statement, and when I do pay on time, it's usually more than the minimums, but that stuff doesn't show up on credit reports...... oh well, it really sucks that credit agencies and loan places don't usually take into consideration extewnuating circumstances and stuff.... this past year has NOT been the best for my mental state, my Mom was diagnosed with cancer after a LONG period of being told it was just about everything else, my parents have been struggling financially..... that kind of stuff, so remembering to pay bills on time all the time kinda doesn't happen that much.... BUT I have managed to get 2 of my cards payed off and are now holding a negative balance on them, and I've been making almost double payments on my car loan.... so I really think that we'll get it. Thanks for the offers and if I need any help you bet I'll be asking. eeesh sorry for such a long vent/ rant/ I dunno what.


As Chubbell said, just know for yourself what you really can do and live with. The lenders will make some kind of loan to just about everyone these days; it is just a matter of what rate it will cost you, etc. But don't get yourself in over your heads and be "house poor". Other than that rant from me, ENJOY!
05/19/2005 03:24:24 PM · #19
Originally posted by Kylie:


I am appalled at what we do these days - making loans to whole communities that can't afford it. They also can't afford to keep the home up, so everyone suffers. Good advice.

unfortunately I think that some of the individuals in those communities CAN keep the home up, and afford it, but they choose to spend thier money on other things, cars, clothes, jewelery. I feel I have to repeat that I am only talking about a very small percentage of people. Some are trtuly unable to afford it and are simply being taken advantage of by peoeple with no ethics. I mean when you drive by a delapidated single wide trailer with a BRAND new Hummer sitting in the driveway...... c'mon.
05/19/2005 03:25:23 PM · #20
Originally posted by Jewellian:

Originally posted by Kylie:


I am appalled at what we do these days - making loans to whole communities that can't afford it. They also can't afford to keep the home up, so everyone suffers. Good advice.

unfortunately I think that some of the individuals in those communities CAN keep the home up, and afford it, but they choose to spend thier money on other things, cars, clothes, jewelery. I feel I have to repeat that I am only talking about a very small percentage of people. Some are trtuly unable to afford it and are simply being taken advantage of by peoeple with no ethics. I mean when you drive by a delapidated single wide trailer with a BRAND new Hummer sitting in the driveway...... c'mon.


Yes, that too. Very true, unfortunately.
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