Vibes, please! :)

tara g

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Hey all,

The boyfriend and I are so tired of renting. We spend nearly $1,000/month in rent on a 1 bedroom apartment in Charleston! We've looked into buying a house on and off for a couple months, and became serious with looking this past weekend. We looked at a few homes, and were shown a $94k Fannie Mae repo home (that is market valued at $125k, so we would be ahead with some paint and carpet or hardwood!) that we really liked. We did the math, and we would save over $400-500/month by NOT renting anymore! And if we move in the next few years, chances are we'd make money back on the house, whereas we aren't with renting (and this complex has been making me livid in the last few months with how the office manages things).

It's a 1,368sqft brick house with a beautiful screened in sunporch (perfect for kitties!), GIANT bay window with a ledge (again perfect for kitties!), fenced in backyard (perfect for the pup!), and a garage with large driveway (perfect for us!) and we fell in love. Because I am unemployed (and have a mortgage under my name still with my ex-husband since he hasn't refinanced me off it yet), I can't use my excellent credit score to qualify for a loan. But the boyfriend has a good credit score, definitely good enough to qualify for any loan according to the Realtor, with no debt and a better income than I had at my last job. We are still nervous though about being pre-approved. I recently cashed in the 401k I had for 2 years at my previous employer and will have a $6,700 check deposited next week that we hope to use towards a downpayment, we also have about $2k in cash at the apartment to use as well. I am mentally stressing out because I reallllly want this to work out and I don't want to be devastated if it all falls apart.

So, I'd just like to ask for some of those super awesome magical TCS vibes that things go smoothly and we manage to get this house for us and our fur-family!! Thank you!!
 

feralvr

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Hope this works out for your both. That sun room sounds lovely and the kitties would enjoy that. Good luck :vibes::vibes::vibes::vibes::vibes::vibes::vibes::vibes::vibes:
 

kookycats

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:vibes::vibes: I hope you get the house. It sounds wonderful and is SO much better than renting. All you have is rent receipts, but with each mortgage payment you make you are closer to owning the house. Now seems to be a perfect time to buy as houses are priced so great. Good luck and I hope you can swing things really quickly.
 
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tara g

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Thanks all! I'm trying my hardest to stay positive. I had a little dip in positivity earlier today. The lender emailed back saying that everything looked great - boyfriend's income, debt-to-income ratio, ... but that the only issue he found was the credit scores weren't calculating because of lack of debt over the last 2 years (since he's never had a credit card, and hasn't had a car loan in a couple years). They told us that it's an easy fix, and within 30 days the scores should be calculated if we open maybe 2 accounts in his name. When we ran his credit report last week (the free annual one you can receive), Experian and Equifax didn't have one showing, but TransUnion did so we know it's not a bad score or anything. I was all upset after the email, saying we don't really have 30 days to just sit back and wait while many houses are getting scooped up left and right!

Then, out of the blue, the Realtor we talked to on Sunday who showed us a couple houses called us! He asked how it was going, and since he is friends with the lender, he's going to call him tomorrow and see if we can just get the pre-qualification from him, and then we can go to the table with an offer contingent on receiving the financing in order to 'secure' the house for us, and he will push the closing back 7-8 weeks from that date in order to get time to get the credit scores to calculate (and we can save up even more money ;))

So I'm pretty hopeful again! :) This has been SO stressful already. I don't remember having a house built being so nerve-wracking and stressful as this! :lol3: I'm just so tired of throwing $1000 "away" at this complex and not having the best situation for the cats and dog (and maybe once we have a house for awhile we will get her a canine playmate). In this house, the cats will have their own room again for their toys, litterbox, etc. And a porch to go out on (we have one here but there's a hole in the screen and Nero sees that as his escape hatch). I also wont feel the need to keep the blinds closed because of so many people passing by constantly (on the ground floor of the apartment building) - and the kitties wont have to slide behind the blinds to look outside.
 
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