Thursday, June 10, 2004

Mortgages, homes, etc

I've put it off for way too long (ain't that always the case) but finally today have managed to make some solid progress towards choosing mortgage options, lines of credit, downpayment, company and all of the other good stuff. It's really impossible to choose with so many offers being thrown in your face but we decided to try and get pre-approved for the 5-1 ARM with ING direct, seeing as that's where all our savings is anyway which should (I think?) count in our favour. Then you're hit with how much you want to put down - think you'd want to put as much as possible down, right? Well, sorta, within limits. What we settled on was 80% mortgage, 10% home equity line of credit and 10% cold, hard cash.

So now we're hoping for our pre-approval to go through. This is the real bitch - because now we're all motivated and excited and don't know if we're going to get approved or not. Apparently it takes 48 hours, sniff sniff. Can't concentrate on shit.


  • I want a friggin' home

  • I want to stop pissing our rent money away and be able to customize the abode in which I reside!

  • I want decent brick walls instead of this hard air shit they give you in apartments

  • I want to play my games loud as FUCK without pissing off the neighbours

  • I want to know NOW if I'm approved for my bazillion dollars or not so I can take the appropriate action

  • I want I want I want..



Growl.

posted by CatSpit at 1:28 PM

Dude, I want you to have all those things too. I think it makes living so much more fun!!

I also just want you to come over my house and hang out.

Frankly, I'm terrified of the debt I've just gotten myself into; but I also think it's totally worth it and makes so much sense. Basically; if shit happens and worst comes to worst, just sell the place for a profit and rent again. :)

-wife
By Anonymous Anonymous, at 1:54 PM  

Mortgages are rent, except their bigger and look mean. Basically if you feed them once a month they'll grow nice and slow so that when you want to sell them they'll make ya a tidy profit.

Best of luck just one word of warning. Putting on a new roof every 10-15 years sucks.

Keggy
By Anonymous Anonymous, at 7:26 PM  

You'll freak out until you write that first check, then, once you see that it's all perfectly doable, you'll just sit back and watch the equity build.

I recommend kicking a little something extra towards the principal each month if you can swing it. Even 100 bucks will drastically reduce the length of the mortgage and the amount spent on interest. Before we started saving for the adoption we overpaid and I'm looking forward to getting back to doing it again. As much as one can look forward to paying more on their mortgage each month, that is.
By Blogger suburbanjoe, at 6:38 AM  

Post a Comment