We still haven't gotten the place under agreement, but we're working on it. The sellers won't take FHA financing, so our initial output of cash is going to be just about double with conventional financing (larger down payment needed, smaller seller's assist permitted). The sticker shock was pretty severe. We don't want to completely wipe out all of our savings (or have to dip into our 401ks) to have the cash we need to get into this house. So, it's going to take some creativity (and major penny-pinching over the next couple of months until settlement), but we believe we can make it work. We're going to move forward and submit an offer with conventional financing, and hope for the best. The encouragement and support of our friends and families has been so helpful... this emotional roller-coaster has been somewhat stressful.
So, we continue to hope and plan and crunch numbers and make many phone calls to our real estate agent and our mortgage broker. It's all going to work out for the best, I know it.
1 comment:
Good luck. I hope it works out quickly, fairly and in your favor soon.
Post a Comment