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

[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.