Buying a House!

Comments: 22

Janie E. Mar 31, 2012, 3:13pm UTC

Congratulations and good luck with your new home!!!!

Sara H. Mar 31, 2012, 4:45pm UTC

Thanks ^_^

Janie E. Mar 31, 2012, 4:47pm UTC

You're very welcomed! :)

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Heather - child of God, C. Mar 31, 2012, 3:47pm UTC

Congrats!

I will warn you that it might be higher than you expect. I once went to a closing on a home and I had about $500 in the bank extra.... based on the figures given. I walked out with $30...

Another house we bought, they based the taxes on what the previous owners paid, they owned the house for over 25 years... and as soon as we bought the house... it was at the current rate for what we paid for it, so the payment was higher than I was told. There also can be hidden community fees, so make sure you find out if there is a monthly maintenance fee.

One good thing is you should be able to get money back tax time because if you itemize the interest you pay on the mortgage can be used thus lowering your income tax... thus a nicer refund each year!

Sara H. Mar 31, 2012, 4:51pm UTC

Well, because of the different rules now, they're required to give us a permanant quote. We have saved for the money that we need down and it won't be any higher because of the loan that we're using. I just put how much it will be after moving in- it's an entire different amount of what we'll need to bring to closing and it would change only depending on what other things were as far as taxes on the property but right now... thats how much it is... we already know the association fees and he gave us a quote that included it.. closing because in the next couple weeks, shouldnt change any amount- but how much we need to bring to closing- wont change at all.

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Audrey A. Mar 31, 2012, 3:52pm UTC

Congratulations :)

Sara H. Mar 31, 2012, 4:51pm UTC

thanks

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John S. (arizona) Mar 31, 2012, 3:53pm UTC

Congratulations! I hope all goes well. I remember when we bought this house, the mortgage was lower than the apartment we lived in at the time. Different state though, but one of the reasons we relocated here.

Sara H. Mar 31, 2012, 4:52pm UTC

I hope it does too! This is a dream house for us and it's going to be lower the first year because of who we're getting the loan from so that'll give me time to make money in the home!

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