I Didn’t Think Buying A Home Would Be This Difficult!
Sep
23
When we first realized that If we found a home for less than $130,000 in Provo it would be cheaper than renting a 3 bedroom place we started house hunting. We found a lender who said we approved easily based on our great credit score, we hooked up with a realtor and found a 3 bedroom that actually looked really nice for $124,000. Overtime we felt that this lender was being very dishonest and so we moved onto a different lender who said that he could not approve us yet but once JJ recieved his first graduate stipend paycheck we could be approved. So we moved into the home and signed a contract with the sellers to rent the house from them until November.
A week and a half ago JJ received his first paycheck and the lender called back (actually we had to call him 3 times) to say that now we only qualify for $109,000! When we first heard this news we decided to start looking for apartments and we could only find one apartment under $850 a month. We went to look at it, it is a nice condo but very small. It had 3 bedrooms but only one bed or crib could fit in each room which would be difficult when we have another baby. We decided we had no other choice and we would take the condo. However the current condo renters called us yesterday and said that they’re not moving out now.
Now today we are meeting with some people to discuss options to buy this home. There are no city or federal grant programs for this area but the sellers are willing to work with us and I am sure they want to get this sale closed as quick as we do. I’ll just keep my fingers crossed that the intrest rates keep falling.
September 23rd, 2008 at 3:47 pm
That has to be so frustrating. I wish you luck and hopefully, everything will work out and you’ll get to stay in the house, sounds like that’s the best place for you and your family.
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September 23rd, 2008 at 4:21 pm
I’m sorry you are having so much trouble with getting the house
I hope everything works out so you can get it.
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September 23rd, 2008 at 5:44 pm
Oh that STINKS!
Good luck. I hope you can keep it.
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September 23rd, 2008 at 8:56 pm
I heard that Mom was helping you out. Hope everything works out for you!
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September 24th, 2008 at 10:03 am
My Mom and Dad said that they would lend us money and we can pay them back over 4 years but we will see what happens at the end of the week.
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September 24th, 2008 at 4:14 pm
$124 000…wow…we paid $314 000 for our townhouse and we thought that was good.
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September 24th, 2008 at 4:41 pm
Here in Utah you can buy a brand new 3,000 sqf house for $300,000!
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September 24th, 2008 at 5:00 pm
I hate that you guys are going through that. I think it is because of the housing market mess. They are being very strict now.
We are looking for a house too so I will soon know what you are going through. The good news is that at least in our market, the prices are going WAY down. Townhouses that were $350,000 two years ago are selling for just under $200,000. The prices are going down and there are a lot of foreclosures. It is sad though. I knew a couple of people that foreclosed.
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