Extreme Booty-Dancing

[prosodic]

Lance and I were approved for MORE THAN ENOUGH to buy a house in the Seattle area!!!

This is really happening!

Comments

[wendywoowho.livejournal.com]

Hurrah!

[prosodic.livejournal.com]

We don't have to give up our dream of home ownership! Woot!

But the amount that we were approved for is terrifying to think about.

[tully-monster.livejournal.com]

Just be careful--lenders have a tendency to approve you for much more than you really need or can afford. You've probably done this kind of calculation before, but 1/3 the salary of one of you is a good rule of thumb for monthly mortgages. (Got to take possible unemployment into account.)

We got a second mortgage to take care of the closing costs--that seems to have worked out well.

All that said...now the fun really starts...:)

[prosodic.livejournal.com]

Well, we don't plan to use that much...hopefully about $25,000 less than that. And we were assigned an agent, but he already saved a few houses for us that max out our pre-approved amount, so we need to talk to him and tell him that's not what we want.

In the Seattle area, many sellers are paying the closing costs. If we can get in on that, that's even better.

[mactavish.livejournal.com]

Yay!

[godchick.livejournal.com]

Congratulations on everything. I know you'll find a cut home.
It's neat that you can try and settle a few things before you even get here.

[prosodic.livejournal.com]

I don't know about a cute home, but at least we no longer have to worry about only being able to afford a garden shed.

[lijepanena.livejournal.com]

That is awesome! =D

[heartsinarmor.livejournal.com]

YAY!!!!!! That is so fantastic!

[queendisko.livejournal.com]

Wow!! Congrats!!!! That's a HUGE feat - considering the market in general, not to mention, Seattle!!!

[melopene.livejournal.com]

That's wonderful, and you'll be buying at a time when it's a buyer's market, to be sure - AND right after the fed cut rates! Just try to avoid taking out the entire amount you're approved for... I was approved for a good bit more than I knew I could afford in monthly payments.

Also... shop around for mortgages! I ended up going with Wachovia, but I talked to 3 or 4 firms. A few of them may still try to push you into an adjustable rate or something interest-only (one guy told me that in 5 years of living here I'd own a doorknob, ha)... but demand a 30 year fixed.

Also, I don't know what you're looking to put down for a down payment, but there are also programs that'll let you only pay closing or pay a much lower down payment in exchange for an extra half a point of interest. Also, if you can push your closing date until after the next Fed meeting, you might be able to get an even lower rate if they do another cut.

Yaaaay!

[prosodic.livejournal.com]

We did shop around a bit, but we settled on USAA. They offered one of the lowest rates and because they work for the military, we feel we are in good hands. We've financed things through them before and they worked out very well for us.

We already know the problems with an adjustable rate mortgage, because it was a problem for my parents on the last house that they owned. Because of that, I would never do it.

Lance has done all the research and has a pretty good handle on this. I have a fairly big learning curve, but I'm starting to understand this process much better.

[melopene.livejournal.com]

Oh good... I just always feel the need to give anyone the same advice, because I never know what folks know.

I am -SO- happy for you. I really should find a way to speak with you online, because I would love to have a girly hour or two of talk with you. :)

Again... thrilled!

Lurve!

[prosodic.livejournal.com]

Are you on Yahoo messenger? That's the only way I chat online right now, but we could always try the LJ Talk thing. If I can figure out how it works. ;)

And of course, I will keep posting about the house stuff. We take our house hunting trip in 3 weeks, so this will be happening very quickly.

[godchick.livejournal.com]

Welcome Karyn, to this state.
Hurry up and don't be late
See if you can beat the Christmas rush,
Pack your thngs so they won't crush.
I think you'll like the Pacific Northwest. So many people says it's the best.
Chicago gets more rain than us, To get to town, you take a bus.
Los of water to fish or swim
Shopping at a moments whim
Cruises sail everyday, You can go, if you pay.
Look up high, There's the space needle,
Looking low, there's the Pacific beetle.
Take a ferry to an island
Or go the the Key Arena to see a band.
Don't forget the aquarium , it's easy to find on Alaskan Way,
A fun way to spend the day.
Pikes Market's the place to be
To get all your veggies, fruit and tea.
Want a coffee? I know where to go.
A starbucks waiting every 2 blocks or so.
Some mystery is waiting for you.
Don't forget the Underground Your.
Lots of good places to eat and drink. theres
Buca di Beppo's,
And more if you think.
And if you don't get seasickl,I think you oughter
ride the duck on land and on water.
Lots to do north and south, east and west,
just don't get caught in the traffic mess.

[godchick.livejournal.com]

Thats suppose to be Underground Tour, sorry about that.But that's how I type, my fingers are fat!!

[prosodic.livejournal.com]

No problem. I figured it out. ;)

[prosodic.livejournal.com]

*applause*

I read that to Lance this morning and we both had a chuckle over it. Very clever!