It’s a week since I was told to move fast and get my mortgage person on board for getting the house I love, and two mortgage people later, I still don’t have anyone truly on board. Not from lack of trying, I call them constantly trying to get answers. No one wants to give a mortgage for less than about $30,000.
But anyway, let me tell you a little about this house. The house I want!
Sure, I can find other houses, but they aren’t deals like this. I was pre-qualified by the first mortgage person I contacted up to $35,000. There are plenty of houses on the market that fall in that price range, but none of them are even near the kid of deal this is.
I did a search for properties $0 – 50,000 in the area, and this is the only house that comes up. That’s because it is a good, low-crime neighborhood, and low-priced homes don’t last long. It also has the benefit of being a house that isn’t falling apart; It’s unfinished, and just needs a loving hammer to make it a good home. Some walls need to be built, some floors need to be covered (one needs to be replaced in a small area), the cedar shake needs some work, but otherwise it is in good shape. I guarantee that any of the houses I can get in the $30 – $35,000 price range aren’t anywhere near as good of a deal. I’d still need to do work on them, but I would need to take down walls, and take up floors to make it how I want it. This house has the advantage of not needing to be torn apart to be lived in and loved.
Furthermore, why spend more money than I need to for a house that isn’t exactly what I want?
Right now I’m trying to get into a “home renewal” mortgage, which is for houses that need to be refurbished. Honestly, the only reason I need this kind of mortgage is to bring what I’m spending on the house into the range of what the banks want me to finance.
Honestly, I don’t know what they are thinking. If I was a lender, I would rather fund someone looking to buy a home well within their means and make a little money off th deal than someone buying a house they really can’t afford and risk not making any money off the deal. Funding a $17,000 house for someone pre-qualified up to $35,000 should be a no-brainer. It’s guaranteed money, and you’ll never see a late payment.
There is also the fact that just fixing this house up a little will increase the value immensely (it’s assessed at $61,000)… so in a couple years I could roll it, buy another home and pay off most of my other debt.
Arrgh!
I just got pre-approved for a mortgage. I’ll be looking next week, and I plan to have a house of my own very soon.
WOOHOO!
It seems I wrote some blogs, and forgot to hit publish…so they were drafts… oops. Well, they’re there now.
Good evening everyone and welcome to 2008, a new year and lots of new things.
As per the usual…. sorry that I haven’t blogged in so long, (thanks for the reminder Tammy!) things have been crazy, but in a good way.
Where to begin…
With 2008 Comes a new Cell Phone…. I upgraded to a RAZR, so I get more features and keep the same phone number. I hacked it too, since Verizon cripples the software immensely. I’m now running the Altel firmware, which enables a bunch of features… while not disabling the service.
…. and more money! I got a raise at work ($4.75 WOW!) so I can now afford all of my bills, and I’m trying to get a mortgage so I can buy a house. My goal is to get a 3 bedroom fixer-upper, fix it up and rent out a room. I’ve stuck the numbers into my Net Budget (Including Mortgage, Taxes, Utilities, and Internet…I even have gas and groceries in my budget) and the numbers all work out, while leaving me paying over on all of my bills, and having spending money left over. (I figured low on my paycheck, so I’ll have money for buying materials and I already have lots of tools)
Work has been going great, I love what I’m doing, and now that I’m making an OK income, it’s better than ever. I went to California on the 21st and 22nd to work with a customer, and that was fun…. I got to fly for the first time, which wasn’t too bad other than being boring. LA was crazy…. no where I would ever want to live, the traffic would make me nuttier than I already am.
…finally, an increase in gadgets! Face it, every guy has a gadget fetish, we all have to have the neat toy that makes everyone say “that is so cool!” Well, I have a lot personally. The latest is a DVD Player with a 250GB Removable hard drive, so I can store a bunch of movies and music right on it and play if on demand. That, coupled with the surround sound we setup last fall makes the entertainment system in the bar nearly complete…. next up is a cheap projector. That will mean bigger better movie nights this summer!
Hello everyone,
I know it’s been awhile since I have done any blogging. I honestly haven’t had any spare time for months. I’ve developed a bunch of new websites for work, and started on my own WYSIWYG HTML Editor for embedding in my scripts (since most of the other editors out there don’t do exactly what I want)
So, I just wanted to comment on how busy 2007 has been, and how it’s been one of the better years I have had overall. My bills are somewhat under control, and most things are working out pretty positively.
I’ll have more when I have more time. Have a Happy New Year everyone!
