Reality. I hate you so goddamn much.
Aug. 13th, 2011 03:03 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
thistledearSo on the house hunting front, reality decided to step in and apply its pimp hand to my face.
I had to pick someone else to pre-qualify for a loan, and since I bank with Wells Fargo, I went with them. The guy was very nice, and I received a prequal letter last night. For $74,325. Ouch. The house I was looking at was a HUD home needing some repairs and appliances, and it came with a repair escrow of $4000. But then the nice loan man added a breakdown of closing costs and the out-of-pocket I'd need. Including my 3.5% down payment, inspection fee, and closing costs, I'd need over $8000 to do it. And I'd need more than that $4000 escrow for repairs. There was a leak somewhere and the first inspection didn't know where, and they were only allowing $500 for it. HAH. HAH. So much for that house.
But here's the thing. I only qualify for $74K. I doubt I'll find a house that's just move right on in-able for under $80k. So right off the bat I need at least $6000 for a down payment. And then I'll need another $6000 for closing costs unless I can get the seller to cover them. Or at least half of them. But that's still another $3000. And then earnest money and inspection fees and all that other fun stuff that pops up before the papers can even be signed. I have...not that much. :| Well, technically I *do* (parents want to see me in a house and are more than willing to throw some of my inheritance at me early for it), but then I'll have NO SAVINGS. It is not a good idea to buy a house with absolutely nothing in your savings account for inevitable house crisis.
So I just applied for two different part time evening jobs. If I get one of them, let's just see how strong my resolve for a house really is!
If I disappear for the next few months, you'll know why. :|
...randomly, I had more dreams of the Nostalgia Critic last night. I may be obsessed. Y'know, a little.
I had to pick someone else to pre-qualify for a loan, and since I bank with Wells Fargo, I went with them. The guy was very nice, and I received a prequal letter last night. For $74,325. Ouch. The house I was looking at was a HUD home needing some repairs and appliances, and it came with a repair escrow of $4000. But then the nice loan man added a breakdown of closing costs and the out-of-pocket I'd need. Including my 3.5% down payment, inspection fee, and closing costs, I'd need over $8000 to do it. And I'd need more than that $4000 escrow for repairs. There was a leak somewhere and the first inspection didn't know where, and they were only allowing $500 for it. HAH. HAH. So much for that house.
But here's the thing. I only qualify for $74K. I doubt I'll find a house that's just move right on in-able for under $80k. So right off the bat I need at least $6000 for a down payment. And then I'll need another $6000 for closing costs unless I can get the seller to cover them. Or at least half of them. But that's still another $3000. And then earnest money and inspection fees and all that other fun stuff that pops up before the papers can even be signed. I have...not that much. :| Well, technically I *do* (parents want to see me in a house and are more than willing to throw some of my inheritance at me early for it), but then I'll have NO SAVINGS. It is not a good idea to buy a house with absolutely nothing in your savings account for inevitable house crisis.
So I just applied for two different part time evening jobs. If I get one of them, let's just see how strong my resolve for a house really is!
If I disappear for the next few months, you'll know why. :|
...randomly, I had more dreams of the Nostalgia Critic last night. I may be obsessed. Y'know, a little.
