Huh... How about that...?

[lithera]

It seems I'm pre-approved for $250K with 3% down.

Not as much as I was hoping but not hideous, either.

So now, we do some looking and some scouting and some moving around of fianances.

Student loans make up the bulk of my debt and man, do they hurt. Ugh.

I feel terrifyingly adult. Emphasis on the terror part.

Comments

[maramaye.livejournal.com]

Scouting around for what?

[lithera.livejournal.com]

A house.

[maramaye.livejournal.com]

Wow, congratulations. =)

[lithera.livejournal.com]

Well, not really yet. I have to, you know, find one and do all of the negotiating and stuff.

[maramaye.livejournal.com]

That's the easy part. Especially now; it's such a buyer's market. The bank stuff is what's hard. =)

[lithera.livejournal.com]

Heh. Well, we'll see. I have to put the breaking of my lease in there as well as a number of other things.

[lithera.livejournal.com]

Heh. Well, we'll see. I have to put the breaking of my lease in there as well as a number of other things and get them below $250 in the area I'm okay with... We'll see. I was really, really, really hoping for more like $270 or $280...

[jeditigger.livejournal.com]

AWESOME. I know, big step, but awesome! Amazing time to buy.

[lithera.livejournal.com]

Eeeeeeeek!

SKERY!

[quipper.livejournal.com]

I agree though.. it is a buyer's market. And those numbers are really nice.

Don't worry too hard about the negotiations. People are falling all over themselves trying to sell property.

Skeery is what happens after you decide to sell your home, and then buy a new one. So, my advice is, be picky. You already know you're going to be in the area for a long time barring weird circumstances. You won't have to worry about moving for a long time after you find what you love.

[jeditigger.livejournal.com]

HAY WHY AREN'T YEW ON MY FRIENDS LIST I KNOW THAT PRETTY FACE

[lithera.livejournal.com]

*chuckles*

[quipper.livejournal.com]

OH NOZE HOW COULD I POSSIBLY NOT FRIENDED YOU B4?

[lithera.livejournal.com]

Yeah. I have a feeling it will be a heck of a look. I'm picky and I also don't want to be too far out from downtown because long commutes suck.

[jeditigger.livejournal.com]

Yes, this. They do suck. So shop wisely. Like I said, it's a buyer's market.

[lithera.livejournal.com]

I was looking yesterday and man, there isn't a lot in city in my price range. Arg!

[aylara.livejournal.com]

How cool for you. Best of luck. :)

[lithera.livejournal.com]

Thanks!

It is a brave new world... or something dramatic like that.

[candidgamera.livejournal.com]

Ooooh. Innnteresting.

[fireballof3.livejournal.com]

FYI - Banks love to give you a bigger loan than you can really afford. They approved you for $250, I would suggest looking at houses $225 and below.

They approved us for a loan of $150 back when we were looking, but I think if we would've gone that high we would've been in big trouble at some points there.

[lithera.livejournal.com]

I was looking at it and with a roommate, I can handle the $250. If I were on my own, I'd be completely screwed.

[fireballof3.livejournal.com]

*nods*

I always plan for worst case myself, but that's just me.

[lithera.livejournal.com]

Oh, I understand and it is something I have in the back of my mind as I'm looking at things. I need to make all of the desires align.

[fireballof3.livejournal.com]

Good luck!!!!

[bmessina.livejournal.com]

Man, that is kinda terrifying. I got pre-approved a few years ago and did some shopping... The main thing I remember from all that is that whatever you're pre-approved for, spend less. Way less. Otherwise monthly payment shock can give you a heart-attack.

*shudder*

[lithera.livejournal.com]

Yeah. I was looking at it when I was setting it up.

[thezzyzx.livejournal.com]

Don't forget to factor in insurance, taxes, and PMI (perhaps)... but on the other hand factor in tax refunds...

[alryssa.livejournal.com]

And escrow fees, if one goes that route to pay property taxes (we do that). That can add a decent chunk to the monthly payment.

Neat!

[seanb.livejournal.com]

Some non-serious tools I wish were available when I was housesearching:
housingmaps.com (one of the oldest Google Maps/craigslist mash-ups)
base.google.com (pulls in data from an obscene number of sites): http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=seattle,+wa&mrt=realestate&sll=37.0625,-95.677068&sspn=34.534108,62.753906&ie=UTF8&t=h&ei=gn3aScCTEJ3siwPrk6TBCw&attrid=5d07b79f1f7b3c8:190000,230000_&z=10

More serious stuff:
zillow.com (great for house history, neighborhood info)
redfin.com

If you want to go look at houses any weekend, I'd be glad to come along.

Re: Neat!

[lithera.livejournal.com]

That would be fantastic. This weekend is NorWes but I would love to look the weekend of the 18th. I hope to have a list and all that.

And I already have a question or two.

[technocracygirl.livejournal.com]

We will have to get together and talk. wanderingfey is getting us some pre-approval love now.

[lithera.livejournal.com]

Awesome. Will you be at NorWes? If not you can come over early for game...

[technocracygirl.livejournal.com]

We are going to Norwes, and likely dinner with my family on Sunday.

[angrylemur.livejournal.com]

Oh my. Wow. Good luck!

[lithera.livejournal.com]

Thanks, darling.

[amit.livejournal.com]

*hugs*

Good luck, baby!