just begining our home hunting journey

Hi ladies! Fi and i are getting married in 5 months and have officially started our home jnting journey! I am so excited about this (maybe even more than for the wedding!?) Shhh!:) anyway I just wanted to say hi and see if anyone has advice for a new home searcher :)


-ash
Posted on April 24, 2012 at 12:19 pm
ashle1738
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nish0822
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make sure your credit scores are up to par. preferably 620-640 or higher.


do not open any new lines of credit right now.


make sure everything is paid current no delinquent accts


don't tell family and friends until you are in the thick of it of about to close. There can be so many dips and turns with this roller coaster ride.


be prepared to monitor your spending, deposits, withdrawls more than usual. the lender/bank will watch you like a hawk. Anything beyond your paycheck or income that you have reported will raise flags. avoid the flags. open a bank account seperate from the one you are showing proof of.


2 yrs of employment history and rental history.


there are also classes that help first time home buyers with down payment assistance.


make sure you taxes have been filed. i went into the actual IRS office to file mine. When it came time to submit our documents to underwriting found out the IRS never filed it. they had it in their system but somebody forgot to pass it along. we went through weeks of first trying to find it, see who dropped the ball and then how quickly we could get it done. anyways... that fiasco cost us 3 months before we finally got approved by underwriting.


have patience. the best reward will come.


honestly although everyone's situation is different and you guys may walk through it like a breeze, there may be moments when you will snap on each other. The stress for us(me) was overwhelming. It is the big league. Its like those moments when you realize, you're your parents. what i mean is you're doing grown up stuff, making grown up decisions. You're the adult. Remember when you didn't stress about stuff because that was your parents' job. now its yours. However, it does make you stronger as a couple, in my opinion at least.


i wish you all the best. Having been through it i can honestly say its not as scary as when i started. Don't let all the jargon and paperwork confuse you. you won't understand half of it anyways. Take your time, have a patient realtor thats not just trying to sell you a house to make commision. Also have a lender that is personable. I changed 3 different lenders until i found one that i felt i could invite to my house warming if i wanted to.

Posted on April 24, 2012 at 1:30 pm
ashle1738
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Thanks Nish! Thankfully our realtor is a good friend of our and my Fis mom works personally with our lender so theyve been a dream as well! Our credit scores are kind of sucky but the specific loan we are looking into actually looks at "alternative" credit such as any rotating monthly bills, rental hisotry, etc! Thanks for all the tips!


 

Posted on April 25, 2012 at 1:37 am
jmbuss9
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I don't have any advice about house searching!


Just wanted to wish you goodluck! -- I do know that it is a stressful (and painful) possess!

Posted on April 25, 2012 at 3:07 am
Uhlease
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Wow, great advice nish! And good luck ashley!

Posted on April 25, 2012 at 5:00 am
Faithk08
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I don't have much advice, but I would say don't settle and don't rush!! You will feel much better about buying if you are confident in your decision :)

Posted on August 2, 2012 at 10:13 am

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