Well, we have both really good news and really sad news. First off, we finally heard from our lender yesterday afternoon. The Good News: We have been pre-approved for a loan! We're so thankful because this is something we would never have received apart from the grace of God.
The Sad News: because of the shortage in income for the past couple of months, we were not approved for the amount of the house we want. Rather than being approved for a $127,000 loan with a $20,000 down payment, we were only approved for a $125,000 loan.
The feeling is bitter-sweet. We are overjoyed at the thought that we somehow secured a loan without a co-signer. There are so many houses for sale in Grandview right now, that I am sure we will have no shortage of options. However, our momentary sentiments are that of someone who has just had the girl of their dreams break up with them. *Shrug* It will pass and there are always more "fish in the sea" so to speak, but every house we have looked at so far in the new price-range feels more like being on the rebound. The hard part now is finding a house with enough square-footage for the vision in our heart.
Yes, we are going to attempt the impossible and make a REALLY low offer on the house we originally wanted, but the fact that the seller initially listed it at $175,000 makes us an unlikely candidate for that house. We are still going to try it, but have resolved that we need to keep our options open and consider a house with less drama.
I am hopeful, however, that everything will work out better. The fact that we would not be neighbors to teenage gang bangers if we chose another house is an appealing option. There seem to be a lot of nice people in that neighborhood, but there is a substantial amount of unsavory characters as well. This is something we actually just noticed yesterday. It is both a good mission field, as well as a breeding ground for trouble when you are raising small children. So we're counting our blessings.
I can sigh with relief that we finally know where we stand with the loan, though. It feels good not to have to wonder anymore. As always, I will keep y'all updated with the latest if we happen to find a house we like.
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Carrie, that is so exciting... i know a bit disappointing but you can finally get into a new place!
ReplyDeleteI love my house... but it isn't exactly what I would have picked at the end of the day. However I am so blessed and an am so greatful for the blessings of the Lord that I even have a house!!!
We are so excited for you! Now we can all come to your new house.... eventually and watch you back more yummy cakes!
-Liesl