Spoke to a mortgage guy
By NJ Chicaa
@NJChicaa (119523)
United States
July 17, 2020 5:23pm CST
My friend gave me the number of a friend of hers who does mortgages. I'm not ready to buy yet but she said that he would run the numbers and tell me what I need to do in order to be in a good place to do it. I called him and we talked for about half an hour this afternoon. He emailed me an application to fill out with basic information (name, social, job, length of time at job, dependents, do I have any lawsuits against me, etc.).
I filled it out and am waiting to see what he comes up with. I'm not expecting much at this point. Maybe I'll be pre-approved for like $200,000. I guess we just have to wait and see. I'm excited to start working on getting a home of my own.
5 people like this
7 responses
@moffittjc (121546)
• Gainesville, Florida
18 Jul 20
I think the hardest part is not necessarily how much you'll qualify for, but coming up with the down payment. In the good old days before the housing meltdown ten years ago, people could buy houses without putting anything down at all, or even just a small amount. But these days, they really expect you to put 20% down. That's a lot of money to save up. Unless you qualify as a first-time home buyer. You could get an FHA loan and I think all they require is like 3.5% or 5% or something like that.
1 person likes this
@moffittjc (121546)
• Gainesville, Florida
18 Jul 20
@NJChicaa That might be the easiest way to go. It's hard for people to come up with 20% down these days.
1 person likes this
@Tina30219 (81899)
• Onaway, Michigan
18 Jul 20
I wish you all the best and hope it goes well
1 person likes this
@MainerMikeBrown (1373)
• Bridgton, Maine
17 Jul 20
NJ, I wish you all the best in your quest to own a home...if not soon than later on at some point.
I'm not so sure that owning a home is for me. But it sounds like it's something you would like to be able to do at some point, NJ.
Again, good luck!
1 person likes this
@MainerMikeBrown (1373)
• Bridgton, Maine
17 Jul 20
@NJChicaa I've enjoyed living in apartments, for the most part. But it's not for everybody.
1 person likes this
@Dyvette16 (4301)
• United States
17 Jul 20
Such a great feeling to be able to do that
Fingers crossed for this process !
1 person likes this
