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.