if i could only get my wife to move !!! whats so nice about being "close" to your family anyways

LOL

 

I've NEVER heard anyone being recommended getting rid of a car when trying to get a mortgage unless they make like 900/month and trying to purchase a 350K home. Shop the loan and shop it hard!
[/quote]

I have never heard of such a thing either - I definitly would look around more

 

I say upgrade to an H2. You can forget the house and live in that thing!

Mike

 

Is it possible to hold off purchasing the new home for say another year? You could apply any extra $ to pay off the Hummer early, or put the extra bit you can save (I know it may not be a lot, but it adds up faster than you think)... Shop, shop, shop on home loans don't go with the first company you see, and I agree about Pref. Lender it's the Lender they only want to deal with because they get a % profit for each referral... If it's going to be this big a strain, then it's just not your time to purchase a house.. the right time will come. Good luck!

Jenn

 

If you are in a decent real estate market and plan to move in less than five years then go for an interest only mortgage product. With a conventional 30 year mortgage, not much principal gets paid down in the first 3 years anyway and if you definately plan tomove on (givensome market value appreciation along the way - you need this to happen too), then you should be OK. And, do a For Sale by Owner. Real Estate Brokers are sooooo over-paid. I do not recommend interest only mortgages, but under some situations they are good and quite a bitcheaper. Ask your broker about it.

 

One thing RuttDog forgot to mention is that he is also going to college, and we all here know how much money and time that takes up. That's a big factor I would also assume.

 

in order to get the best rate on my 30-yr fixed, my lender wanted me to pay off my car loan from my previous vehicle...so I did just that, got the mortgage, then took on an interest-free 60 mon one from GMAC

 

Then I feel his pain, finishing up Senior year going on for Masters. We plan on staying where we're at paying more each month on house payment have paid off in 5-6 more years. In TX seems easier/cheaper to add on to an existing structure than buy another home... I would never imagine paying over $300 for a house period...

 

Wow, how many of us are still in school? I've been going to a community college for about 3 years now, or so it seems. I must have started about 3 degrees before finally picking one to complete so I can move on to a 4 year and get a peice of paper that is actually worth something.

 

sell your hummer to a family member or friend you keep making the payments and drive it and wahla you have your hummer and your house too