Hmm not to reveal my complete ignorance. But I just got off the phone with our Mortgage guy. Looks like if we hit our pre-approved max, our down payment/closing costs are $19,000
Who the fuck has that kind of money lying around?! Like we've been saving while paying stuff off for the last 2 years and we have like 8k. With downpayment assistance programs we can get that up to an additional 7.5k, but $19,000?!
And if I'm taking a loan out anyway, why can't I just...put that back into the loan? Not borrow to my limit and roll that in? Seems like that would make sense? I'm paying you the money over 30 years anyway.
Me and everyone else I know who's bought houses get that money from a family member.
Yup my first home had to basically happen with a combination of savings and a chunk of cash from my parents. I would not have a chance in hell going solo. It's freaking ridiculous how much you have to have ready to go to sign on the dotted line.
So just a thought, I was venting to a friend who bought his house like a year ago, and he said they went through 4 different lenders and wound up with a small mortgage place. Sadly its not in the state I'm looking to move to, but does anyone have any recommendations for mortgages in Illinois? Also my mortgage guy is looking into programs to help us, we may qualify for up to $7.5k in assistance for an extra 1% or whatever, but that still doesn't put us at 19k
Really they need to pass that bill thats been sitting in congress for months to allow home buyers to access a 15K tax credit to use as down payment assistance. That would literally get us in a house.
I had to save up for 12 years to be able to afford a down payment on a house. Now that I've bought a house, that down payment savings account (and the money I set aside for it every month) has been converted into a home improvement savings account, getting ready for the time when I need to make a big purchase like replacing the furnace or the roof or something
So just a thought, I was venting to a friend who bought his house like a year ago, and he said they went through 4 different lenders and wound up with a small mortgage place. Sadly its not in the state I'm looking to move to, but does anyone have any recommendations for mortgages in Illinois? Also my mortgage guy is looking into programs to help us, we may qualify for up to $7.5k in assistance for an extra 1% or whatever, but that still doesn't put us at 19k
Really they need to pass that bill thats been sitting in congress for months to allow home buyers to access a 15K tax credit to use as down payment assistance. That would literally get us in a house.
If you saves up 8k in the last year maybe it's just not quite time to buy a house right at this moment considering you'll be at 15k next year?
minor incidentexpert in a dying fieldnjRegistered Userregular
It IS good idea to make sure you keep at least $5k or so in your savings after your down payment, too. All houses need an emergency fund.
Everything looks beautiful when you're young and pretty
+1
CambiataCommander ShepardThe likes of which even GAWD has never seenRegistered Userregular
edited October 2021
So here's a completely dumb thing I learned about credit scores after I failed to get approval for a HELOC on my completely paid-for house. (so you know, zero risk loan since you can just confiscate and sell my house if I don't pay)
What I learned is that the consumer credit scores that you can purchase from Equifax, Transunion, or Experian are not what Mortgage lenders use to decide whether to loan to you. No, they use a unique mortgage lender score, one that you don't get to know until they run it!
Now you'd think that since this score is based off buying property or securing you a loan, then the most important thing about your history would be your prior record with loans and mortgages; after all, that would suggest a valid reason to have a completely separate score, because then you'd only be judged on how well you handle loans, not your credit card fuck-ups, but you'd be wrong. The mortgage-lender score doesn't give a shit about you being100% on your loans, and they judge how you handled unsecured credit far harder than credit card companies do. Added bonus is that applying for a mortgage lowers that mortgage score, hurrah!
Thankfully I do have my sister to help me in buying the house so this isn't a wall to us buying the house, but what an absolute load of rubbish. If nothing else I should be able to see all of my credit scores by paying one of the major credit companies so that I know not to waste my time lowering my credit score by applying for something.
I can't fucking believe that the result of banks throwing out subprime mortgages to people who couldn't afford them is that a fully secured loan is impossible to get even when you make a 6 figure salary if you don't have a mid-range credit score under the completely secret section of your credit record. . Fuck banks.
JedocIn the scupperswith the staggers and jagsRegistered Userregular
Reminder that credit scores weren't even a thing until 1989. Our only consolation is that eventually the boomers will suffocate themselves under the weight of all the ladders they pulled up behind them.
A thicker filter generates less wear and tear on the box fan. More surface area for the air to move through.
Interesting. I asked mostly because my intakes are sized for a one inch deep filter, and it had never occurred to me that there would even be any other sizes.
hey I looked at doing this last year but was on the fence about how useful it would be. I was thinking of using it on the second floor where the bedrooms are to cut down on dust and allergies for proper sleep.
Was it worth the fans and the noise?
Hmm not to reveal my complete ignorance. But I just got off the phone with our Mortgage guy. Looks like if we hit our pre-approved max, our down payment/closing costs are $19,000
Who the fuck has that kind of money lying around?! Like we've been saving while paying stuff off for the last 2 years and we have like 8k. With downpayment assistance programs we can get that up to an additional 7.5k, but $19,000?!
And if I'm taking a loan out anyway, why can't I just...put that back into the loan? Not borrow to my limit and roll that in? Seems like that would make sense? I'm paying you the money over 30 years anyway.
Me and everyone else I know who's bought houses get that money from a family member.
Yup my first home had to basically happen with a combination of savings and a chunk of cash from my parents. I would not have a chance in hell going solo. It's freaking ridiculous how much you have to have ready to go to sign on the dotted line.
How dare you! I paid for my house with the sweat off my back and the paltry $25,000 from my father!
i bought a tiny box in a building before the property boom, so my down payment was only $10k at the time. The property boom paid for my new house though...definitely could not of saved money to buy a place now.
My sister is basically effed and is looking to move to the east coast of Canada as a result.
So just a thought, I was venting to a friend who bought his house like a year ago, and he said they went through 4 different lenders and wound up with a small mortgage place. Sadly its not in the state I'm looking to move to, but does anyone have any recommendations for mortgages in Illinois? Also my mortgage guy is looking into programs to help us, we may qualify for up to $7.5k in assistance for an extra 1% or whatever, but that still doesn't put us at 19k
Really they need to pass that bill thats been sitting in congress for months to allow home buyers to access a 15K tax credit to use as down payment assistance. That would literally get us in a house.
If you saves up 8k in the last year maybe it's just not quite time to buy a house right at this moment considering you'll be at 15k next year?
Problem being that come next May, if we're still in this house when the owners are selling it to their family, we will have no where to live. My work is also requiring me to move states and paying to move/rent will cost us pretty much everything
So just a thought, I was venting to a friend who bought his house like a year ago, and he said they went through 4 different lenders and wound up with a small mortgage place. Sadly its not in the state I'm looking to move to, but does anyone have any recommendations for mortgages in Illinois? Also my mortgage guy is looking into programs to help us, we may qualify for up to $7.5k in assistance for an extra 1% or whatever, but that still doesn't put us at 19k
Really they need to pass that bill thats been sitting in congress for months to allow home buyers to access a 15K tax credit to use as down payment assistance. That would literally get us in a house.
If you saves up 8k in the last year maybe it's just not quite time to buy a house right at this moment considering you'll be at 15k next year?
Problem being that come next May, if we're still in this house when the owners are selling it to their family, we will have no where to live. My work is also requiring me to move states and paying to move/rent will cost us pretty much everything
In that case, you can't do much about the down payment but you have options with the closing costs. A decent realtor should be able to negotiate that the seller pays the closing costs, although it'll mean you paying a higher price for the house overall or accepting that they won't fix some things that come up in the inspection if you can live with them for a few years. Since you've got good credit, you can also talk to your bank about taking out an unsecured personal loan in addition to your mortgage. In most places you can't use a loan to pay for the down payment, but you can use it to pay for closing costs. It'd be another chunk of interest, but it would buy you some breathing room if your income is secure.
You should also get quotes from at least a couple other lenders, even though I know it's a tremendous pain in the ass. As long as you get it done within fifteen days of your first quote, it'll only count as a single ping against your credit, so do as much spadework as you can right now. A slight bargain at this stage can really make a difference in the early years of your mortgage and a huge difference in the amount of total money you end up paying back.
Thank you @Jedoc I had no idea on that. I also looked into borrowing from my retirement but since its a state based pensions, I'm not allowed to until I quit, but I think if need be we can look into a personal loan.
My credit score went down like 4 points because I got quotes from I think 5 lenders before settling on one.
Did you know that repeatedly pulling your credit score somehow makes it go down? Like what the fuck is that noise
The credit score that I can see went down 2 points by having my credit checked once, by my mortgage lender. The secret mystical score that only the banks' most holy thaumaturges are allowed to see went down by 15 points.
As stressful as buying a house has been (again), it's so nice to have a realtor who doesn't seem confused at things like "yeah the AC needs to work" and act like we're being unreasonable by such requests.
There's a rose that has pushed through the hedge out the front of my house - the hedge has grown from about half a metre to about 1.2 metres since I moved in, and the rose appeared one day and started flowering. I find it a little inspiring.. also it smells gorgeous.
Grudgeblessed is the mind too small for doubtRegistered Userregular
Today my firewood man delivered this year's firewood - 2 cubic metres of mixed hardwood dumped in my driveway. So I've carried it all up through the garage and out back to the wood shed where it's now neatly stacked. This is mostly just for cosy evenings around the furnace, it's not our main source of heating, so it should be enough to last the winter.
I'm gonna feel this in my knees and lower back tomorrow though.
How much does that run you, if you don't mind me asking?
0
Grudgeblessed is the mind too small for doubtRegistered Userregular
It was 1300 SEK which is around $150 (incl. transport). I could have saved $35 by collecting it myself, but I don't have a truck or a trailer so I'm happy to have it delivered.
As stressful as buying a house has been (again), it's so nice to have a realtor who doesn't seem confused at things like "yeah the AC needs to work" and act like we're being unreasonable by such requests.
Our current realtor is great and I wish I'd gone with him on our first house. He was one of the two realtors referred to me back then.
My impression of our first realtor is that she was really, really green.
Today my firewood man delivered this year's firewood - 2 cubic metres of mixed hardwood dumped in my driveway. So I've carried it all up through the garage and out back to the wood shed where it's now neatly stacked. This is mostly just for cosy evenings around the furnace, it's not our main source of heating, so it should be enough to last the winter.
I'm gonna feel this in my knees and lower back tomorrow though.
Today my firewood man delivered this year's firewood - 2 cubic metres of mixed hardwood dumped in my driveway. So I've carried it all up through the garage and out back to the wood shed where it's now neatly stacked. This is mostly just for cosy evenings around the furnace, it's not our main source of heating, so it should be enough to last the winter.
I'm gonna feel this in my knees and lower back tomorrow though.
Spiders when they see the wood guy at your house:
I'm actually more concerned about termites, especially since this wood shed appears to be right up against the house? @Grudge how do you handle termites and wood ants in your wood pile? Or is the shed closed off enough that it's not a concern?
Yeah no termites. I don’t think we have any pests that threaten the firewood piles, we’ve always kept it outside without any issues.
+1
3cl1ps3I will build a labyrinth to house the cheeseRegistered Userregular
Even in southern New England the winters keep the termites really in check, everyone has huge wood piles under or next to their house and there's no real concern about termites. Termites are a rare "oh shit did you hear Dave got termites?!" occurrence rather than a daily consideration.
Now mice, those will live in your wood piles and then find their way into your house and shit in the cat food.
Even in southern New England the winters keep the termites really in check, everyone has huge wood piles under or next to their house and there's no real concern about termites. Termites are a rare "oh shit did you hear Dave got termites?!" occurrence rather than a daily consideration.
Now mice, those will live in your wood piles and then find their way into your house and shit in the cat food.
You know I don't think I would even be mad at the mouse at that point. That is such a great power move. I gotta give respect where respect is due.
JedocIn the scupperswith the staggers and jagsRegistered Userregular
Hell yeah, after all the tornadoes and hail we've finally reached fall. It's been over 24 hours since my AC last kicked on, and tomorrow morning I break out the flannel robe for puttering and coffee.
Woo. Went shopping for some pool pipes a couple of days ago and they were out of stock. Everyone's gearing yp for summer and supplies are low. But today i picked up some for free secondhand. Lucky score for me as you dont normally see second hand pool equipment until autumn.
Not gonna lie at all, this property seems like actually a really good deal for $750k. Though I know dick squat about the area. And I have to assume those houses get colder than a witch's tit in winter due to the giant windows.
Pinfeldorf on
0
CambiataCommander ShepardThe likes of which even GAWD has never seenRegistered Userregular
Whelp, I don't want to say too much since we're still in contract negotiation, but unfortunately we may have to pull out from that house. Hopefully not but it depends on how dumb those people are. We have a couple more days on the option period to see if our realtor can talk some sense into them.
My parents have their TV mounted on an automated arm. Push one button, it swings out from the wall and faces the living area. Push again, it swivels to face the dining table. Again, and it turns towards the kitchen. Then when you turn it off, it folds back flush(ish) against the wall.
It's ridiculous, but if you just mounted it flush it would be in a terrible position to view from any location in which you spent any amount of time, so ridiculous solutions are what you get I guess.
Hi house thread, I was over at my parent's house yesterday so I made a video of my parent's TV roboarm:
Posts
Yup my first home had to basically happen with a combination of savings and a chunk of cash from my parents. I would not have a chance in hell going solo. It's freaking ridiculous how much you have to have ready to go to sign on the dotted line.
Wud yoo laek to lern aboot meatz? Look here!
Really they need to pass that bill thats been sitting in congress for months to allow home buyers to access a 15K tax credit to use as down payment assistance. That would literally get us in a house.
If you saves up 8k in the last year maybe it's just not quite time to buy a house right at this moment considering you'll be at 15k next year?
What I learned is that the consumer credit scores that you can purchase from Equifax, Transunion, or Experian are not what Mortgage lenders use to decide whether to loan to you. No, they use a unique mortgage lender score, one that you don't get to know until they run it!
Now you'd think that since this score is based off buying property or securing you a loan, then the most important thing about your history would be your prior record with loans and mortgages; after all, that would suggest a valid reason to have a completely separate score, because then you'd only be judged on how well you handle loans, not your credit card fuck-ups, but you'd be wrong. The mortgage-lender score doesn't give a shit about you being100% on your loans, and they judge how you handled unsecured credit far harder than credit card companies do. Added bonus is that applying for a mortgage lowers that mortgage score, hurrah!
Thankfully I do have my sister to help me in buying the house so this isn't a wall to us buying the house, but what an absolute load of rubbish. If nothing else I should be able to see all of my credit scores by paying one of the major credit companies so that I know not to waste my time lowering my credit score by applying for something.
I can't fucking believe that the result of banks throwing out subprime mortgages to people who couldn't afford them is that a fully secured loan is impossible to get even when you make a 6 figure salary if you don't have a mid-range credit score under the completely secret section of your credit record. . Fuck banks.
hey I looked at doing this last year but was on the fence about how useful it would be. I was thinking of using it on the second floor where the bedrooms are to cut down on dust and allergies for proper sleep.
Was it worth the fans and the noise?
http://steamcommunity.com/id/BretonBrawler
How dare you! I paid for my house with the sweat off my back and the paltry $25,000 from my father!
My sister is basically effed and is looking to move to the east coast of Canada as a result.
Problem being that come next May, if we're still in this house when the owners are selling it to their family, we will have no where to live. My work is also requiring me to move states and paying to move/rent will cost us pretty much everything
In that case, you can't do much about the down payment but you have options with the closing costs. A decent realtor should be able to negotiate that the seller pays the closing costs, although it'll mean you paying a higher price for the house overall or accepting that they won't fix some things that come up in the inspection if you can live with them for a few years. Since you've got good credit, you can also talk to your bank about taking out an unsecured personal loan in addition to your mortgage. In most places you can't use a loan to pay for the down payment, but you can use it to pay for closing costs. It'd be another chunk of interest, but it would buy you some breathing room if your income is secure.
You should also get quotes from at least a couple other lenders, even though I know it's a tremendous pain in the ass. As long as you get it done within fifteen days of your first quote, it'll only count as a single ping against your credit, so do as much spadework as you can right now. A slight bargain at this stage can really make a difference in the early years of your mortgage and a huge difference in the amount of total money you end up paying back.
Did you know that repeatedly pulling your credit score somehow makes it go down? Like what the fuck is that noise
The credit score that I can see went down 2 points by having my credit checked once, by my mortgage lender. The secret mystical score that only the banks' most holy thaumaturges are allowed to see went down by 15 points.
The Aristocrats!
I'm gonna feel this in my knees and lower back tomorrow though.
Our current realtor is great and I wish I'd gone with him on our first house. He was one of the two realtors referred to me back then.
My impression of our first realtor is that she was really, really green.
Spiders when they see the wood guy at your house:
I'm actually more concerned about termites, especially since this wood shed appears to be right up against the house? @Grudge how do you handle termites and wood ants in your wood pile? Or is the shed closed off enough that it's not a concern?
Ooh, they don't have termites up north? Lucky.
Now mice, those will live in your wood piles and then find their way into your house and shit in the cat food.
You know I don't think I would even be mad at the mouse at that point. That is such a great power move. I gotta give respect where respect is due.
https://www.zillow.com/homedetails/859-Maine-St-Stoneham-ME-04231/2088898117_zpid/
Not gonna lie at all, this property seems like actually a really good deal for $750k. Though I know dick squat about the area. And I have to assume those houses get colder than a witch's tit in winter due to the giant windows.
Hi house thread, I was over at my parent's house yesterday so I made a video of my parent's TV roboarm: