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Awesome! The mortgage guy said I can get pre-approved for the house.

J

Jumpem

Lifer
They only apporved me for $150k, but I talked to the guy for a while. He said that if I can sell my car I can have enough for the house. 😀 I'd just have to sell it prior to closing.

My gf and I are going on a tour of it tomorrow night. I'd really like to get the house since it's the type I've always wanted, and it's not in the city. However, I would only have $1k or so left after monthly bills, gas, food, etc. So I really need to think about it some more. Maybe I"ll call my parental units and see what they think.

House in question.

Car to sell.
 
That's a lot of house for only $170k, especially nowadays.

How long have you and your GF been together? Been living together?
 
Originally posted by: kyparrish
Long term financial commitment with girlfriend = bad.

edit: unless, it's all in your name, then go for it!!!
Click to expand...


We're practically married. I think it will be going in my name, but I'm indiferent to that really.
 
Originally posted by: Jumpem
Originally posted by: kyparrish
Long term financial commitment with girlfriend = bad.

edit: unless, it's all in your name, then go for it!!!
Click to expand...


We're practically married. I think it will be going in my name, but I'm indiferent to that really.
Click to expand...

"Practically married" and "married" are infinitely different. I'd just go with it in your name to prevent a headache down the road, if in fact you 2 ever parted ways.

Plus, from reading your other thread, it sounds like she doesn't have quite the credit that you do, so it might even hurt your chances of getting the house.
 
Originally posted by: kyparrish
"Practically married" and "married" are infinitely different. I'd just go with it in your name to prevent a headache down the road, if in fact you 2 ever parted ways.

Plus, from reading your other thread, it sounds like she doesn't have quite the credit that you do, so it might even hurt your chances of getting the house.
Click to expand...

The funny thing is her credit is so much better than mine. I only have a car loan and student loans, but she's always had tons of credit cards and payed the bills. So even though my income is one and a half times hers, her credit score is a good 50 points higher.

Edit: Yeah she has alot of debt. One mortgage person said I would be better off without putting her on the application.
 
Originally posted by: kyparrish
Originally posted by: Jumpem
Originally posted by: kyparrish
Long term financial commitment with girlfriend = bad.

edit: unless, it's all in your name, then go for it!!!
Click to expand...


We're practically married. I think it will be going in my name, but I'm indiferent to that really.
Click to expand...

"Practically married" and "married" are infinitely different. I'd just go with it in your name to prevent a headache down the road, if in fact you 2 ever parted ways.

Plus, from reading your other thread, it sounds like she doesn't have quite the credit that you do, so it might even hurt your chances of getting the house.
Click to expand...

make sure in pre-nup she agrees the house is "yours." YOU keep paying the mortgage payments etc. if you want it to be "fair" she can buy an investment home and rent it out and that will be "hers."
 
The funny thing is her credit is so much better than mine. I only have a car loan and student loans, but she's always had tons of credit cards and payed the bills. So even though my income is one and a half times hers, her credit score is a good 50 points higher.
Click to expand...

Cool! Maybe it would help then.

Just trying to help. I'd just be a little cautious when deciding whether or not to get into a 30 year commitment with your girlfriend.
 
small house for that money

you could get a 2500 sq ft. w/ ~4 acres out by me for that type of money.

i know my house (2750/4.89) was bought for 110 in 1989 and now you could prolly sell it for 210
 
Originally posted by: kyparrish
Long term financial commitment with girlfriend = bad.

edit: unless, it's all in your name, then go for it!!!
Click to expand...

Amen to that. If she bolts you better be able to make that payment. And while I hate to be negative about people's relationships, that is exactly how you have to look at it.

Also, never never never buy the maximum amount of home you can afford. Don't think of it as "woo wee - I can buy a house that costs THIS much". Sit back, work your budget out and figure out how much you can realistically afford to pay each month (Think in terms of "I currently pay this much rent now and if I had to I could afford to pay this much more") and go from there. If you have to start finagling your financial life around in a significant way to be able to afford the house payment DON'T DO IT. And for God's sake, do not think in terms of "My GF can afford to pay X to help me out".

Cliff Notes:

1. Only buy what you can confortably afford on your own with no roommates or GF.
2. Do not go in jointly with someone you are not married to.
3. Do not radically change your financial situation and sacrifice all just to get the house. You'll resent it.
 
Originally posted by: FrustratedUser
Daumn!!
That's a great house for $170k!

$170k here will give me a POS dump. I fscking hate this town.
Click to expand...

you're complaining? $170K is the 20% downpayment on a house like that in my area
 
Originally posted by: nourdmrolNMT1
small house for that money

you could get a 2500 sq ft. w/ ~4 acres out by me for that type of money.

i know my house (2750/4.89) was bought for 110 in 1989 and now you could prolly sell it for 210
Click to expand...


I think it's a decent price. It might be $10-20k high for the area, but I'll have to wait until I see the inside and get an assessment.

I don't even know what to offer. I want to get a good deal, but don't want to lose the house if I decide it's for me. I'm guessing try $160k?
 
Originally posted by: Kalbi
Originally posted by: FrustratedUser
Daumn!!
That's a great house for $170k!

$170k here will give me a POS dump. I fscking hate this town.
Click to expand...

you're complaining? $170K is the 20% downpayment on a house like that in my area
Click to expand...

... and yet I am complaining. I'd get the fock out if I were you. 😛
 
Originally posted by: Whoozyerdaddy
Amen to that. If she bolts you better be able to make that payment. And while I hate to be negative about people's relationships, that is exactly how you have to look at it.

Also, never never never buy the maximum amount of home you can afford. Don't think of it as "woo wee - I can buy a house that costs THIS much". Sit back, work your budget out and figure out how much you can realistically afford to pay each month (Think in terms of "I currently pay this much rent now and if I had to I could afford to pay this much more") and go from there. If you have to start finagling your financial life around in a significant way to be able to afford the house payment DON'T DO IT. And for God's sake, do not think in terms of "My GF can afford to pay X to help me out".

Cliff Notes:

1. Only buy what you can confortably afford on your own with no roommates or GF.
2. Do not go in jointly with someone you are not married to.
3. Do not radically change your financial situation and sacrifice all just to get the house. You'll resent it.
Click to expand...

I agree with the finances part. We are fairly comfortable now. If I sell my car I'll save $650 a month. That should make up for the $500 more or so in housing.
 
Originally posted by: FrustratedUser
Originally posted by: Kalbi
Originally posted by: FrustratedUser
Daumn!!
That's a great house for $170k!

$170k here will give me a POS dump. I fscking hate this town.
Click to expand...

you're complaining? $170K is the 20% downpayment on a house like that in my area
Click to expand...

... and yet I am complaining. I'd get the fock out if I were you. 😛
Click to expand...

yea but my income and income potential is X times bigger
 
Originally posted by: MuffD
Same here. 1 acre...Wow!
Click to expand...

The lot is bigger than an acre. I think it's closer to two. there aren't any other houses too close. After I got some debt paid off in a few years I'd try to buy a few more around it for a buffer zone.
 
Never include a girlfriend or fiance in any part of your finances, and keep a wife out of as much as you can. You never want another person to have any significant control over your finances. Especially not a romantic partner. These days cheating is extremely common, and divorce even more common. In addition, most engagements don't lead to a marriage. (These statistics are Googleable I believe.)

Keep the girlfriend out of it bud. You want to get yourself financially solid before you share the financial part of your life with someone else.
 
Originally posted by: Jumpem
Originally posted by: Whoozyerdaddy
Amen to that. If she bolts you better be able to make that payment. And while I hate to be negative about people's relationships, that is exactly how you have to look at it.

Also, never never never buy the maximum amount of home you can afford. Don't think of it as "woo wee - I can buy a house that costs THIS much". Sit back, work your budget out and figure out how much you can realistically afford to pay each month (Think in terms of "I currently pay this much rent now and if I had to I could afford to pay this much more") and go from there. If you have to start finagling your financial life around in a significant way to be able to afford the house payment DON'T DO IT. And for God's sake, do not think in terms of "My GF can afford to pay X to help me out".

Cliff Notes:

1. Only buy what you can confortably afford on your own with no roommates or GF.
2. Do not go in jointly with someone you are not married to.
3. Do not radically change your financial situation and sacrifice all just to get the house. You'll resent it.
Click to expand...

I agree with the finances part. We are fairly comfortable now. If I sell my car I'll save $650 a month. That should make up for the $500 more or so in housing.
Click to expand...

What are you going to drive?
Are you figuring her income into the equasion?
Are you COUNTING on her income?
Can you make the payment on your own? (No GF no roommate)
 
Originally posted by: Jumpem
Originally posted by: MuffD
Same here. 1 acre...Wow!
Click to expand...

The lot is bigger than an acre. I think it's closer to two. there aren't any other houses too close. After I got some debt paid off in a few years I'd try to buy a few more around it for a buffer zone.
Click to expand...

At least you even have that option. The house we just moved into is about 2500 sq ft but the lot is a little over only 6000 sq ft. You can't do much in terms of landscaping here unfortunately. Even if we wanted to and could afford a pool, that would pretty much take up our backyard. Our backyard is about 40x60 with 10 foot walkways on each side of the house. Over here, if you have 1/4 to 1/2 acres, you've got plenty of room to do stuff.
 
Originally posted by: EyeMNathan
Never include a girlfriend or fiance in any part of your finances, and keep a wife out of as much as you can. You never want another person to have any significant control over your finances. Especially not a romantic partner. These days cheating is extremely common, and divorce even more common. In addition, most engagements don't lead to a marriage. (These statistics are Googleable I believe.)

Keep the girlfriend out of it bud. You want to get yourself financially solid before you share the financial part of your life with someone else.
Click to expand...


I appreciate the advice, honestly. But she is so different from every other girl. she thinks logically, works hard, and listens to what I say. 🙂
 
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