Home purchasing

[awsmith4]

Originally Posted by ATobin

Thanks for your thoughts so far guys. A walk in humi is definitely a no go at this point in time, but a nice smoking porch is a must.

Our plan is to pay off the second car next week and wait 3-4 months then check our credit score and see where we're at (my student loan balance makes my income-debt ratio look outstanding ) Right now I think we're looking at a 30 year VA @ 5.5%, which isn't bad IMO and we would repay early.

Has anyone dealt with buying a foreclosure or short sale property? There seems to be a lot of them in today's market and they seem like a deal, and we (me) aren't afraid to get our hands a little dirty with slight remodeling.

If you aren't afraid to do some work and spend the money a foreclosure or fixer upper could be the way to go.

One thing as a word of advice, don't look at buying a home as saving money over rent. While people say paying rent is throwing away money, consider the cost of the maintenance of a home on top of the mortgage. I've seen too many people who bought the maximum amount they could afford monthly and forgot to account for the extras that come in home ownership.

But if you do have the time and the money then home ownership is a very rewarding thing