I have a stable job and a good income but I fear that credit mistakes will prohibit me from ever owning my own home.
People who have done this
More "How I Did It" stories
How I did it: We had to sacrifice a lot of weekends out partying, to dvd's and pizzas at home, or friends around for poker and video games. It was hard at first but now i really enjoy staying in and going around to friends places rather than out. We have friends who are also either looking for a place to buy or saving up for holidays etc, so we are really lucky. Anyway after a year of pinching penny's, we saved our deposit, our… Read how I did it…
How I did it: We started looking for our first house two years ago. We were living in an apartment with roommates at the time and had no idea what was involved in getting a house. First, we worked with a rather shady real estate agent who tried to talk us into an ARM. This was right before the whole mortgage market meltdown began, so I'm really glad we didn't stay with that guy long. Still, the initial search gave us a good idea of what was available i… Read how I did it…
How I did it: I lived with my parents for 3 years after college, got a good job, and saved saved saved saved! When the market started to tank, I casually looked around and then found "the one." Who needs a man? I bought the condo with most of my savings as a down payment. It's so freeing to get to decorate all by myself!! Read how I did it…
How I did it: About 3 years ago my "new" hubby and I decided we'd really like to stop renting and become homeowners. With not a lot of cash or credit due to us both making a "fresh start" in life ( round 2) we began searching out "fixer uppers" The best thing we did was to seek the help and advice of a good mortgage broker. He held our newbie hands along the way and gave us tonnes of tips. He found us a mortgage when the banks said no, and the be… Read how I did it…
→ See all 7 "How I did it" stories
People doing this are also doing these things:
Entries
I always dreamed of owning a victorian style home. I get a certain feeling inside me when I see one. I like the wrap-around porches and the shapes of the houses.
BarbaryBlue 35 days-NO smoking!
So the loan procuring chick waited until the last possible minute to submit my loan and it seems that the underwriter’s guidelines have changed, and since I have only been back at my job for 15 months, and part of my wage is tips, I don’t qualify for the loan I was pre-qualified for. Everybody told me that was impossible. Everybody kept telling me there is NO way that you can’t get a loan you are pre-qualified for.
Well kids. I’m here to tell you, you sure as heck can be denied even if you’ve been pre-qualified.
The only silver lining in the whole thing is that I can still get a loan if my parents will co-sign…which they will. But now we have to jump through even more hoops in a really short period of time. And now I am going to have to move in an even shorter time frame.
BarbaryBlue 35 days-NO smoking!
Is not losing your effin’ mind! There are all these rules and deadlines. But so far all the representatives and institutions wait until the last possible second to do ANYTHING. I guess if it weren’t for the deadlines nothing would get done.
So I’ve already given my notice at my apartment. But now waiting to hear from the loan officer who is waiting to hear from the underwriters. Then I have to switch all the utilities into my name before I can even close. Then I have to walk through and see if I still want the house. Which by that time I will be so far over a barrel even if the place has exploded, I’ll have to take it.
I’m in home buying purgatory right now. Aiiiieeee.
coug1031 reading How People Grow by Dr. Henry Cloud and Dr. John Townsend.
From this vantage point no, but I am determined.
BarbaryBlue 35 days-NO smoking!
Good: I got the homeowner’s insurance
Bad: Someone stole the washer and dryer
We might close early. I think this will be good.
BarbaryBlue 35 days-NO smoking!
I have to find homeowner’s insurance, but I am confused. Do I insure the house that I don’t own yet? No clue…
BarbaryBlue 35 days-NO smoking!
I need to find the last two years tax records and 2 months worth of pay stubs…I’m screwed…I’m so disorganized!!
I guess I should make a project out of getting it all in order.
Then I can throw out the last 3 years ATM receipts and not move them to the new house.
BarbaryBlue 35 days-NO smoking!
The house is in pretty good shape. There are some minor things but noting major like the other houses. We are inching closer.
I’ve started to look at appliances and light fixtures. Though I won’t be in any real hurry to replace anything.
There is an inexplicably large hall closet that I think I am going to make into my “office”.
The house is only 920 sq. ft. It should really help me attain my goal of: have less stuff!
BarbaryBlue 35 days-NO smoking!
I’ve kind of lost track. I’ve fallen in love with any number of homes. Some of them kind of homely. Some of them entirely decrepit.
The first one was Frankenstein’s Adobe. Someone had covered a little mud adobe house with aluminum siding. I wanted to save it. But we couldn’t even compete. Despite it’s monstrous charms it’s location was too good for our limited budget.
The second house, wasn’t too bad. Knowing what I know now, I still couldn’t afford it. But it wasn’t half as bad as I thought.
There were a couple of houses that got away just because listing agents wouldn’t even deign to call us back.
Then there were desperation houses. “I’ll take anything as long as it vaguely resembles a house!”
Then there was a too good to be true house. Everybody else thought so too, and we had to go with a loan product that wasn’t competitive enough. No dice there.
Now we are on the latest house. A little farther east than I hoped, but cute as a button. The kitchen is microscopic. But everything else is good, good, good. We are waiting for some paperwork to process, and then an inspection. And then?
Well we’ll see.









