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  1. Miranda
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    Question JEMGK!!

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    Hey girly! I just saw your new home post! Congrats it is gorgeous!!! We are going home shopping this wknd (just got our pre-approval letter in the mail today). I just had a couple of nosey questions to ask you. If you want to answer- great! If not, thats totally fine too (or if youd rather PM).

    How many houses did you guys look at before deciding?
    Did you make a low offer, and they counter offered, or did you just offer/pay the price they were asking?
    Who did you decide to get your mortgage through?
    Did you ask different lenders, if so how many, to get the best rates? And if so, did they vary much?

    I think thats it Im very excited, but nervous about buying our first house. Everyone says take your time to decide, but if you fall in love with a house when you see it, do you still take lots of time, or do you offer relatively soon? Aghh!!

    Anyway, TIA if you feel like answering Even if you dont feel like answering, on the new house!!!
  2. Miranda
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    Hey, I just figured this out! I had no idea what this was. Let me read it and reply real quick.

    Joelle
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    Quote Originally Posted by Miranda View Post
    Hey girly! I just saw your new home post! Congrats it is gorgeous!!! We are going home shopping this wknd (just got our pre-approval letter in the mail today). I just had a couple of nosey questions to ask you. If you want to answer- great! If not, thats totally fine too (or if youd rather PM).

    How many houses did you guys look at before deciding?
    Did you make a low offer, and they counter offered, or did you just offer/pay the price they were asking?
    Who did you decide to get your mortgage through?
    Did you ask different lenders, if so how many, to get the best rates? And if so, did they vary much?

    I think thats it Im very excited, but nervous about buying our first house. Everyone says take your time to decide, but if you fall in love with a house when you see it, do you still take lots of time, or do you offer relatively soon? Aghh!!

    Anyway, TIA if you feel like answering Even if you dont feel like answering, on the new house!!!
    How many houses did you guys look at before deciding? We looked at ALL the different houses in different areas. This was the second house we looked at and I pretty much knew instantly but you HAVE to check out everything...you don't want to see something and then regret not having checked out other areas.

    Did you make a low offer, and they counter offered, or did you just offer/pay the price they were asking? First of all find out what the market is like in the area you are buying, ask around, find out what other houses are selling for in the same neighborhood...then you'll have something to compare with. Most importantly find a GOOD AGENT that will work for you, not for the commission. BE SURE to find someone that has been in the business for a long time that is more concerned with their reputation rather than making a buck. The market really is a buyers market now. Our home was originally listed at 209K, it's been on the market since they started building it and we got it for 190K(well 187K but we got a few upgrades and added it in the cost of the home so we could include it in our mortgage). Take the advice of your lender, it doesn't hurt to go low...but you don't want to go too low and offend the seller. At the time we made an offer they had it listed as 189,900. We offered 180,000 they came back and said 187,900 (it really is worth that but they came down a lot) I would offer the full amount they are asking. We paid 190K plus we got a lot of upgrades.

    Try to get your agent to find out how long the house has been on the market, they CAN find out...if it's only been on for a few days then the chances of them taking a lower off might be smaller...if it's on for awhile it will be higher. Also our agent was able to call the agent and get a "feel" if there were any other offers on the table. You should also have a second or third choice and let the seller know that. The ball is in your court girl! (well for most of the country anyway)

    Who did you decide to get your mortgage through? We were going to go through USAA...we're doing a VA loan (which is really nice) so the interest is pretty standard, but the fees can make thousands of dollars of difference. It was like 7K through USAA for closing costs and then I compared them to Bank of America and they are only like 4600 through them. I don't think you'll get much lower than that, but I would def recommend checking around! It doesn't hurt!

    Did you ask different lenders, if so how many, to get the best rates? And if so, did they vary much? Once again Bank of America was our lender and the guy was really great to work with. Check out several. The better your credit score the better your rate!

    OH YEA! we put earnest money down (2K) to show the buyer we were serious about the offer...that will go towards yoru closing costs too. Make sure to add in that pre approval letter! Are you going to do VA? I like that we don't have to put a down payment down with it Let me know if you have any other questions!
  5. Miranda
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    Thanks so much!! We are actually moving back to Indiana (where I am originally from). DH is going reserves, so it helps that I know the area well, and I know what school systems I would want DD in and which I dont. We got our pre approval thru USAA, but I am going to be talking to GMAC tmrw. Our real estate agent has been in the business for 20 years and is a workaholic so I feel confident with her. I just get confused with the actual mortgage and lending fees and rates. Its all so much to take in! We plan on putting down quite a bit for a down payment (even if we do a VA), if it changes our payments much. Thanks for the tip on putting down earnest money

    We have showings for 5 different houses set up for this wknd (we are going to Indiana for the next week to check everything out). So if I think of any more questions, Ill be hunting you down Thanks again! And congrats on the home!!!
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    Quote Originally Posted by Miranda View Post
    Thanks so much!! We are actually moving back to Indiana (where I am originally from). DH is going reserves, so it helps that I know the area well, and I know what school systems I would want DD in and which I dont. We got our pre approval thru USAA, but I am going to be talking to GMAC tmrw. Our real estate agent has been in the business for 20 years and is a workaholic so I feel confident with her. I just get confused with the actual mortgage and lending fees and rates. Its all so much to take in! We plan on putting down quite a bit for a down payment (even if we do a VA), if it changes our payments much. Thanks for the tip on putting down earnest money

    We have showings for 5 different houses set up for this wknd (we are going to Indiana for the next week to check everything out). So if I think of any more questions, Ill be hunting you down Thanks again! And congrats on the home!!!
    Make sure and check out bank of america! I couldn't believe their rates! We didn't make a down payment because we prob won't be there for a significant amount of time.

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