Re: I don't know how much more I can take! jannette Garcia: yea cherry, very good point. Here in FL, they have a bunch of first time homebuyer programs. You can get up to 25,000$ for a downpayment.
Re: I don't know how much more I can take! Peaceandquiet: Also look and see if they offer an adjustable rate mortage where your payments are lower for the first five years then can increase.. by that time the property value usually increases and you can refinance..
Re: I don't know how much more I can take! ATLGIRL777: Thanks so much for the advice! My mortgage guy is checking all of these things for me and I think he has me back in my price range!!! ;D
Re: I don't know how much more I can take! madmax: I'm going thru the same thing right now.
I hope to buy my ex out...so I'd get the house, pickup and boat. To do so, I have to assume the mortgage and truck payment (obviously) plus some credit card debt from our boat and cancelled adoption :-\. Well, the house (with all utilities, phone, etc), living expenses and pickup payment are enough to eat up my entire paycheck...the minimum payment on the credit card debt is therefore beyond my budget.
The good news is that my truck is financed at 0% and will be paid off in another 1.5 years...and the credit card debt is 3.99% for the life of the loan. The other good news is that I have a 5 year arm rate (as PQ described) of 4.75% which is good for 2.5 more years.
OK...enough babbling...how am I handling this??
Well, the same credit card continually offers 3.99% for the life of the loan (far cheaper than a 6.75% home refinance...even considering tax savings). Until my truck gets paid off, I'm borrowing just enough money from the credit card to make that same cards minimum payment. Basically, I'm borrowing money from this card to pay this card ;D. No...the balance isn't dropping...but it's a temporary fix until I pay my pickup off.
My point is...where there's a will, there's a way...even if it's just temporary until things start to fall into place...........
