(no subject)
everything about today is grey and rainy. good for the weather, bad for the body. luckily i am home today; hiding under blankets makes feeling icky much easier to bear.
i'm starting to realize the whole buying a house process has few moments of finality. instead of lots of concrete steps, there are lots of sort of straightforward steps that advance you... sort of. i really don't think it will feel final until we actually move into the house itself.
for example, i thought "pre-approval" would take the form of a letter saying, "dear applicants, we have reviewed your paperwork and we have decided to pre-approve you for a home loan. sincerely, a large institution." this is not the case. after nearly a year of paperwork reviewing/submitting, we are currently "qualified" for pre-approval. this seems to mean a large financial institution is ok pre-approving us for a home loan, provided we can meet their initial requirements in the form of down payment, closing costs, and reserve funds.
once we show them we have the money ready, then i think we move from qualified to pre-approved. pre-approved seems to mean they will give us the loan once we tell them what house we are going to buy. the loan itself comes after we bid on a house and said bid is accepted.
i told danny i'd get involved in the housing process once we were pre-approved; however, since qualified seems to mean the same thing (but represent something different, financially), i'm pretty much ready to get involved right now. according to him, the money we need to show the bank or whoever before they approve us is accounted for and that is fantastic news. i just hope we can pool it all together in enough time.
to qualify for the federal tax break of $8,000, we need to find a house and start the paperwork process by the end of april. no pressure.
i really thought this would be a more joyous entry. hell, i thought it would be a more joyous time in general. but instead of a feeling of celebration, it's more a feeling of mild relief coupled with intense pressure to find a house already.
but, we're really going to buy a house! wheee!
love kittie
i'm starting to realize the whole buying a house process has few moments of finality. instead of lots of concrete steps, there are lots of sort of straightforward steps that advance you... sort of. i really don't think it will feel final until we actually move into the house itself.
for example, i thought "pre-approval" would take the form of a letter saying, "dear applicants, we have reviewed your paperwork and we have decided to pre-approve you for a home loan. sincerely, a large institution." this is not the case. after nearly a year of paperwork reviewing/submitting, we are currently "qualified" for pre-approval. this seems to mean a large financial institution is ok pre-approving us for a home loan, provided we can meet their initial requirements in the form of down payment, closing costs, and reserve funds.
once we show them we have the money ready, then i think we move from qualified to pre-approved. pre-approved seems to mean they will give us the loan once we tell them what house we are going to buy. the loan itself comes after we bid on a house and said bid is accepted.
i told danny i'd get involved in the housing process once we were pre-approved; however, since qualified seems to mean the same thing (but represent something different, financially), i'm pretty much ready to get involved right now. according to him, the money we need to show the bank or whoever before they approve us is accounted for and that is fantastic news. i just hope we can pool it all together in enough time.
to qualify for the federal tax break of $8,000, we need to find a house and start the paperwork process by the end of april. no pressure.
i really thought this would be a more joyous entry. hell, i thought it would be a more joyous time in general. but instead of a feeling of celebration, it's more a feeling of mild relief coupled with intense pressure to find a house already.
but, we're really going to buy a house! wheee!
love kittie