Tuesday, May 17, 2011

Rain.Rain.Go.AWAY!

Oh my...all this rain. It's killing me! We are stuck inside, thinking about the house...and thinking about the house and thinking about the house some more. Good news - our loan came back from underwriting...APPROVED...Nice! But then we also got the final word from the septic inspection and we for sure need a new septic. OY! So now, we are waiting for the "Post Inspection Report" to be sent to us and then forwarded to the sellers. We shall see what they say. Hoping that this isn't a big issue for them and they will just say YES!
Look at our amazing house...
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3 comments:

  1. Fresh Eggs FarmMay 18, 2011 at 5:26 AM

    Post Inspection Report has been signed and sent on to the seller's realtor. Now, we wait. The sellers have 10 days before they have to respond to us. During that time, I'm sure they will be working on getting price quotes for a new septic and leach field and deciding what they can handle financially. I spoke to my realtor and lender and unfortunately the funds are not something they can put in a escrow account. Hoping that the next week goes quick and smooth.

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  2. Jess HallMay 18, 2011 at 8:01 AM

    Amazing news! Congrats :) your house looks beautiful and welcoming. Hope the rain stops soon so that you get to enjoy your new place. Also hope that the inspection goes smoothly. I am also shopping for a new place an got to use a mortgage payment calculator to see how much I can afford. I definitely have to cut back on some spending to get the house I want! Best of luck - Jess

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  3. Fresh Eggs FarmMay 18, 2011 at 8:16 AM

    Thanks Jess! It's funny, the couple of nice days we had were the days we had our inspections - so the house looked so lush and pretty.
    Good luck on getting the house that you want. Here's how we figured the payment - since we rolled taxes and home owners insurance into the loan - we estimated the payment to be 10% of the purchase price. So, if you purchase a home that is $135,000 the monthly would be $1350. That being said - we spoke to our lendor and the payment (to pay off in 30 years) would be significantly lower than that each month; however, if we want to pay the loan in 15 years (highly suggested) then we were about on target with our numbers.
    I suggest working with a lender (we are with a lender broker -http://www.performancemortgageone.com/- and she was SO SO SO helpful...We also got in touch with a realtor - just to see where we stood. We realized that it wasn't as difficult as we thought to actually get the loan. They told us everything we needed to do to improve credit and whatnot.
    Thanks for the comment and good luck with your search!

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