Ugh Tuesday

lavenderfields13 · February 2016

Oh no, sending you good vibes @CocoBellaF !!

[Deleted User] · February 2016

Lots of T&P's for you and baby @cocobellaF I hope it's nothing.

jenjen047 · February 2016

Lots of T&P @cocobellaf!!!

labro · February 2016

@CocoBellaF All my thoughts and prayers for you and baby! You just had a regular check up last week right? Hopefully they'll make everything ok!

minskat30 · February 2016

@cocobellaf - All of my thoughts and prayers are with you right now. I know this is incredibly scary for you right now. I'm praying everything is ok.

untouchablets · February 2016

Lots of T&P's @CocoBellaF !!!

MissKittyDanger · February 2016

@CocoBellaF love and hugs, thoughts and prayers

500days · February 2016

Annnd I'm back! T&P to you @CocoBellaF

Speaking of buying a house, that's our goal for 2016 too. We are good with the saving but I have heard not to go FHA from my friends that have gone FHA. They said it's better to refinance or move to get rid of the outrageous PMI. Is it really much higher than a conventional loan? And is it true that PMI lasts for the duration of the loan?

I really hope that it happens for us this year because I don't know how much longer we can stay at our current place.

LizzyTish88 · February 2016

Sending T&Ps @CocoBellaF !!

Way late to the party but I have been out of my mind this morning!

Friday I left work at 10:30 because the snow got really bad and we had to get on the road to NH. It's normally a 3 hour drive and it took us close to 5.5 hours. We got there, went to dinner, and then proceeded to drink WAY too much.

I was up all Friday night/Saturday morning getting sick. I made the stupid decision to drink too much and paid for it in a huge way. I have never been so embarrassed in my life. Luckily I was not alone, as my aunt did the same and we were in the hungover basket together. I lost a lot of Saturday though to sleeping and cleaning up stuff from the night before.

Saturday afternoon we tried to do a hike, however my aunt couldn't make it so we had to turn around. At that point I was thinking my whole weekend was gone, but we headed back to the house and got ready to go tubing. Tubing was so much fun!!! We had a great time so that turned things around. Saturday night we all hung out, ate apps and played games.

Sunday morning we got up early to head home. We picked up Tess and headed back to the house. We had a bunch of big branches down, so BF dealt with that while I put everything away and began to do laundry. We grabbed an early dinner out then went home to watch the Superbowl!

Yesterday both BF and I had snow days so we got to hang out all day. We did more cleaning and some prepping for paint. Can't wait to get that done this weekend. Today I had payroll so I was crazy this morning but now I am good!

I have my meeting tonight with the Football/Cheer board to get disciplined. I'm not sure I'm in the right mindset for it, but we shall see.

Sorry for the novel!!

lavenderfields13 · February 2016

@500days I think FHA loans are different than first time home buyer loans and are specifically for lower income buyers. I could be wrong though.
I had called a credit union last year just to get a little bit of info and they said they offered a First time home buyer rate of 3% to anyone who was actually a first time home buyer but there are other loans that we wouldn't qualify for because we make "too much" money.

labro · February 2016

@500days @lavenderfields13 I don't believe FHA loans are ONLY for low income buyers...a lot of people go for them because they offer decent mortgage rates to people with poor credit scores or not a lot of money for a down payment. They'll also let you make a DP from a cash gift (like a family member).

The PMI is new though. With FHA I think you pay the premium for the life of the loan. The percentage depends on your DP and life of the loan. You pay an upfront premium and then an annual premium. The reason why the FHA has this is because they are taking on more risk than a more traditional lender. FHA loans will also allow for an "add-on" loan amount at the same rate to make repairs to the home...like if you need to paint, replace appliances, etc.

ETA: Basically, I don't think it's fair to immediately discount an FHA loan or think you won't qualify. I'd spend time talking about it with your bank and just explore all the options available.

500days · February 2016

@labro Very helpful info! Especially from someone in a different location. I feel like I've heard so many "tips" from friends/family since my H and I mentioned wanting to buy. But everyone's situation is different so I don't want to be cornered into thinking a certain way. I'll definitely talk to the bank about it. I just really wouldn't want to pay PMI forever...

wink0erin · February 2016

I'm late and just came to browse, but T&P @CocoBellaF! I hope everything is fine!

@lavenderfields13 Re: home buying. I put down 20% and had 4k left in a CD and 4k left in my savings. Once I knew I was buying a house I stopped buying ANYTHING extra and it's really amazing how much money I saved in a short period of time, I honestly didn't miss it so I've continued those habits. I never planned to ever pay less than 20% down. Doing so helped me out since I don't have to worry about PMI. I have friends who didn't pay 20% who complain about it all the time and say they wished they had waited until they could.

@MissKittyDanger Re: house hunting. I didn't plan to buy a house until this spring because I wanted to save more money up. I went to look in November and fell in love with one of the houses, ended up buying it. I would have never stopped thinking about it and would have been so upset if I missed out on the house, so really I'm glad I didn't look before I had enough saved up. I just had wanted to save more, haha!

lavenderfields13 · February 2016

@labro There's so many different types of loans and info it all gets so confusing! We need to find a good bank to work with. Some of the ones I called before didn't even want to meet with us- they were just like um I can answer your questions over the phone and you can email/fax an application to get pre approved. I don't think it's that ridiculous to want to sit down and talk with someone face to face!

@wink0erin Sounds like you're pretty good at saving! Unfortunately it would take us years to save 20% and I've pretty much been told that our rent will go up at the end of our lease- which means less money we can save and timeline would get pushed back even more. We just need to get out asap- I'd rather pay the damn bank stupid PMI and be in my own home, I'm so over renting!

LizzyTish88 · February 2016

@lavenderfields13 and @500days From a fellow MA buyer, Our loan is an FHA loan. We had to get one because BF had terrible credit at the time of buying. (He has since turned it completely around and has better credit than me now.) My biggest thing would be to ask as many questions as you can! Both BF and I would write lists of questions to ask our mortgage lender, and make time to meet with him to go over everything.

As for PMI, we paid it for a year, and then refinanced to get rid of it. It was a ton of paperwork and basically like getting the loan all over again, but it saved us big time, because the APR was down too, so it was worth the headache.

And I know a great realtor if you guys need one!

lavenderfields13 · February 2016

@caseface5 Yes I do need a good realtor. Don't know if yours just deals with a specific area? Also- good to hear you actually got to sit down with your mortgage lender- I was so put off when people didn't even seem interested in sitting down to meet with us.

LizzyTish88 · February 2016

@lavenderfields13 She works all over the place, not just one area. I can get her contact info and I'll send it along in a PM when I get it.

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