Friday, May 15, 2009

jumping in the deep end!

Well, our first meeting with the realtor (Susan) went great! She has a lot of energy, and she's going to be a great help to us on our first home buying experience. She definitely knows what she's doing--that's for sure.

She set us up with a lender, and after both of us talked with him on the phone today, we definitely have a good idea of the price range we can afford, which is encouraging. At least we have something to shoot for because we really didn't know before. So now we can focus our efforts in that range, and hopefully something will pop up!

Apparently we were looking at this all wrong. Of course :) I was wanting us to have a big down payment so our monthly payments wouldn't be so bad. Well we were told to put down as little as possible since the interest rates are so low. Better to keep "more in the bank" according to our lender. So the good news is, if we wanted to buy a house tomorrow, we'd have enough money for a down payment in our price range!

That's crazy cool! We're not rushing anything though. Our apartment lease is up in August, and if we have to we'll do month-to-month. But, the $8,000 tax credit for new home buyers is only effective if you close on a house before Dec. 1 of this year, so we still need to hustle a little! BUT--if it's not God's timing, then we'll just do without the tax credit. We just want to do things the right way and the way that's comfortable for us.

How exciting that we could be in a house by Christmas time though! Not getting too excited yet :) :) :)

2 comments:

Paige said...

That IS exciting! I had the same thoughts about saving a lot for a big down payment. Who knew? If you miss the $8,000 tax credit this year, I heard there could be one next year for $15,000! But, there could also be nothing...

Good luck! We're going to be following you in our own journey--hopefully in a house in March-April next year. :)

Brittany and Charlie said...

Congrats, it will be a fun ride!