The Super Official Homeowners Thread

[Sijray21]

Another point - don't use the bank pre-approval amount as your budget. Bank doesn't care if you can't afford utilities, food, furniture, car payment, etc. Be realistic.

We were approved for nearly $700k. Could we have paid the mortgage? Sure, but we would be sitting in the dark, on folding chairs, with no cars because we wouldn't have been able to cover any other costs.

It's extremely unlikely a bank will give you a mortgage if they see you borrowing for closing costs. They (and you) know you can't afford it. You can't pull loans while in the buying process.


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Yes, haha.

They approved $650k for me and that would've been so much loan for me at the time. Hot dogs, ramen, and rice for years if I did that.

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Thanks everyone. Let's keep this rolling. Whether or not I try to make something happen, it's good to have the right information. The right answer may be to move out of this townhouse and try to find a "real" house to rent. I just hit the jack pot on a 2+ car garage plus unlimited street parking and even a parking spot for my trailer. Rent goes up every year by about 5% so eventually we'll be paying 4k a month for this place so either I need to find another perfect rental, buy a house and make it mine, or be ready to lower my expectations.

Yeah, good to start the research and info rolling in for a little while before buying a house. There's a lot to learn and a lot to risk initially.