Donna Lynn's Blog

I'm a 34 yr old, happily married woman with the 2 most wonderful doggies in the world! I live in Florida and love all types of crafting! Right now my fave thing to do with my hands is crochet!!!

Wednesday, January 31, 2007

First time homebuyer

Doug and I started looking into purchasing our very first home and I guess I just need to vent! First of all, both of our credits are very good and we have actually been approved at our bank but we do not like the payments or interest rate. They quoted us 6.5% for a 30 year fixed rate. Down here in Florida homes are very expensive with the average home going for around $175,000. Less than 2 years ago houses were less than half that much but the market has just gone crazy here! We currently pay$1200 a month in rent and would really like to stay under $1000 a month in payments with this mortgage. Once I have a baby we won't have my income anymore so we definately don't want to go "up" in payments. The lady we met with at the bank was less than helpful. She was very forceful and didn't explain things well at all. Not to mention she was rather pushy. After talking with a few people we heard the interest rate and such isn't so bad but the over $12000 in closing costs definately are! As a first time homebuyer where do we go, who do we trust? We really don't want to go all over town as every time your credit gets looked at, you lose points.

Any helpful hints would be most appreciated!!!!!!


At 5:31 AM, Blogger Kimberly said...

Good luck on the homebuying front! I can not give any advice as I am just starting to get into this area myself! I am looking at buying a house back in the Chicago area....lets just say your 175 is cheap! *grin*


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