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Mar. 31st, 2003
Good stuff.
Mar. 31st, 2003 04:37 pmGood news!
Actually, *excellent* fucking news!
My landlord has agreed to sell me the townhouse I've been renting for the last five years.
The First National Bank of Dad has agreed to help finance the down payment.
SQUEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!
::: bouncing happily :::
I'm too excited to sit still.
It's a sweet deal -- for one thing, my landlord will hold the mortgage himself, so that eliminates my extraordinarily bad credit from the equation. Six percent interest is less than the best deal I can get from a bank, and I won't have to pay closing costs -- again, because he's holding the mortgage. I'll also save on the home inspection costs, and I won't have to carry FHA mortgage insurance.
Best of all, the math looks like this:
mortgage + real estate taxes + condo fees + homeowner's insurance + water & sewer payment = $200 less per month than current rent
I figure that we're going to let the lease run its course, and when it's up in October, I'll sign the mortgage papers. That gives me time to squirrel away some funds so that my dad's not forking over the entire amount of the down payment.
::: happy sigh :::
Added benefits . . . no running around dealing with real estate agents and mortgage people, and I don't have to pack and move.
The thought of packing up my entire house and moving somewhere was giving me an apoplexy.
So even though I was up until 3am last night watching the cable that I will shortly be sacrificing for the greater cause of a down payment . . . I am oddly energetic. Certainly, I am no less exhausted than I am on any day at work.
And, you know . . . no more bitchy officemate!
Life is good.
Actually, *excellent* fucking news!
My landlord has agreed to sell me the townhouse I've been renting for the last five years.
The First National Bank of Dad has agreed to help finance the down payment.
SQUEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!
::: bouncing happily :::
I'm too excited to sit still.
It's a sweet deal -- for one thing, my landlord will hold the mortgage himself, so that eliminates my extraordinarily bad credit from the equation. Six percent interest is less than the best deal I can get from a bank, and I won't have to pay closing costs -- again, because he's holding the mortgage. I'll also save on the home inspection costs, and I won't have to carry FHA mortgage insurance.
Best of all, the math looks like this:
mortgage + real estate taxes + condo fees + homeowner's insurance + water & sewer payment = $200 less per month than current rent
I figure that we're going to let the lease run its course, and when it's up in October, I'll sign the mortgage papers. That gives me time to squirrel away some funds so that my dad's not forking over the entire amount of the down payment.
::: happy sigh :::
Added benefits . . . no running around dealing with real estate agents and mortgage people, and I don't have to pack and move.
The thought of packing up my entire house and moving somewhere was giving me an apoplexy.
So even though I was up until 3am last night watching the cable that I will shortly be sacrificing for the greater cause of a down payment . . . I am oddly energetic. Certainly, I am no less exhausted than I am on any day at work.
And, you know . . . no more bitchy officemate!
Life is good.
