Friday, May 04, 2007

did I mention it was wee tiny?

So our information for the potential mortgage is starting to be sent to the real live underwriters. It is nervewracking. We were approved by the electrinic underwriting at Fannie Mae in almost record time (and I understand how FannieMae works now, after my nifty first-time-homebuyers class, a class I strongly recomend anyone looking at buying a house,ever! to take, and soon. $35 per household, three nights, it was awesome, I learned so much!). At this point, we get to hope that the general percentages work for us. 98-99% of people who were approved by electonic underwriting are approved by the actual flesh and blood underwriters. Hubby and I were incredibally honest with FinanceGuy about all of our financial stuff because A) who would want to risk being forclosed on almost immediately or not getting approved because you fibbed about what you make and can afford, and B) it never dawned on us to be anything but.
This is in our favor, because if we can get FannieMae saying we are a good risk, and the will comealong in their secondary capacity to buy up our mortgage and invest it to make more money for more mortgages to buy, as they are want to do, the Lender knows that someone thinks we are worthwhile.
I am in the midst of packing and cleaning and getting rid of stuff so we can fit on our wee tiny house, that will be ours, even if we don't get financing now. The owner set it up with us that we will do a 12 month lease to own if our financing falls through, and our finance guy already gave us a list of things to do if we are approved to biuld credit(me), and clean up credit (Hubby) Finance guy said if we are not approved this time(for some nutty reason), doing these things will pretty much approve us next time, six months to a year down the line, as long as Hubby's job is secure, which it sooo is!

On the side of things that are not wee-tiny
Thor has whopping big tonsils and adnoids, and is having them removed on the 15th of this month. They think it mights help his speech greatly, and at the least, he will sleep less, and have more restful sleep, and breath quieter, and not snore.
I know it is fairly routine, the recovery is gonna suck for me, and all, but I am glad to get it out of the way now, while at the same time worried it will be too much for him.

2 comments:

mom the hipple said...

I didn't know you took a homebuyers class, way to go! I wish I had done the same, I paid way too much for the green house plus I never got an inspection, which would have saved me scads of money because of the roof and the well.

mom the hipple said...

Getting the tonsils out now is a good thing, you used to run 104 fevers when you were just 3 years old and I worried about your brain overheating.