HouseNoob

Gah. How can time be passing so slowly and so quickly at the same time? As of today we are 40 days from closing. We made the grown up and logical decision to close May 4th. Our lender was going to try to close for April 30th, which would have given Tony his 30 days of pay stubs, but there is NO way we are moving in one day, on a Monday no less, on which date I also have a test.  If we had stayed with a closing date of April 30th, we would have to pay May rent regardless, then our first mortgage payment would be June, which means no breaks. So by making the closing date May 4th, while we have to pay about $365 in interest, our first mortgage payment isn't due until July, which saves us $300. Plus, we would have both the house and the apartment for all of May, which means we could take our sweet time moving and fixing up the apartment before turning over the keys.  Another development which is a blessing but throws a bit of a wrench in my plans for the house, my sister may b...

Tony's new job is all set to go!! Unfortunately, they train people in groups, so Tony can't start any earlier. Which sucks for our finances and sucks for the closing but he has a job!! He is starting a week from tomorrow, and his first check at the new job will be in just under 3 weeks. Spoke to my lender last week, and he is going to start working on the paperwork for a new loan application this week. Unfortunately, we were unable to lock the previous interest rate, and the rate for FHA loans went up .75%. Waiting to hear what this means for our monthly payment. I also asked him to compare a different loan product we were previously looking at. Before, the interest rate difference between the two made the FHA the better product for us, but it did mean we had to bring a little about $1000 more to closing. But in the long run, in terms of monthly payments, it was much better. But now that the interest rate for the FHA loan has increased, we are comparing the two again to see i...

There is hope still. It took a couple of weeks, but Tony found another job, for the same pay, at another factory. Its actually for an employer who actually seems decent (much better than his previous job at least), pays double time on Sunday, has good benefits; Tony is really excited to start. If all goes well, he should be starting in less than 3 weeks the latest. So doing a worse case scenario time frame, this means his first check is 4/6, which means he would have 30 days of paystubs on 5/6. Which would put closing on or after 5/6. I really REALLY hate the thought of also having to pay May rent for our apartment but at this point I don't care. So say closing date of 5/10, which is quite possibly the worst thing ever, because my final for this trimester is on 5/31. Holy crunch time.  If the universe would bless us, which is doubtful, if he could start a week earlier, on 3/19, then his first check would be 3/30, which could potentially have us closing on 4/28 or so. Which wo...