CLOSED ON NEW HOME TODAY!!!!!! :))))

[vlaw1084]

Good Evening All!

     I am marking today as one the most important milestones in my life.  We have CLOSED today, and it feels like a weight has been lifted off of my shoulders. There were times when I thought we were not going to make it, having to overcome credit issues and other old skeletons hidden deep in the closet, but PRAISE GOD we made it!!!  I will continue to contribute to this forum in the hopes that we may help someone get into there first mortgage.  I thank everyone who has put valuable information on the site, it has and continues to be a great help.  

J

[Tallpap]

congrats to you! and thank GOD. im actually wanting to buy my first home... any suggestions?

[vlaw1084]

Hello!  My first suggestions would be to clean up credit first ( magic number is 640 or higher if using USDA,FHA or VA ), but some lenders can actually help you or recommend you to someone if you have credit issues, as many of us have or had. Second, FINANCIALS, the magic number is 2, -  2 years of everything or anything.  2 years w-2- 2 years on the job, 2 years full tax returns, 2 years worth of tradlines ( although some requuire only 1 year, with at least 3 tradelines)  then find out how much you can afford.  FInd your comfort zone , and then have a lender or agent do the ratio breakdown, so that you are in line with what you can afford. Always be upfront with your agent or lender and DO NOT APPLY for new credit unless recommended to do so, because at the closing table they will double check to make sure you don't have any additional debt that you did not tell your lender about.  Above all else find a home that you want to live in for a while, and enjoy the process.  Some go smoothly than others, but in the end it is worth the journey!

J

[JusdoNit]

Congrats.  So very berry happy for you