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If you don't succeed...

Well, here we go again. It's time to once again try our luck at obtaining financing for purchasing a home. We have been down this road before and we have met many useless smiling faces. These faces were full of empty promises and confidence-building absolute statements, but when it came down to the nitty gritty they dropped us like a hot potato in a circle of one. Finally, we ran across a decent loan officer at First Home National Bank (plug, plug). When he ran our credit report and saw some issues with it he didn't just drop us. Instead, he told us what was wrong with our credit report and what I needed to do to improve it. There was a couple things that needed to be cleaned up which just took a series of phone calls to a series of places. There was also an unpaid item that needed to be paid, which we did. Now that we have used the suggested corrective action and also waited the thirty days for the changes to be posted to our credit report, we are now ready to try again. Hopefully, he was correct in his assessment of our situation and he'll be able to get us pre-approved for a home loan now. That would be nice. We're definitely ready to get a place that we can work on. So, say a prayer for us!


And I'll take that house. Even though it looks a little on the creepy side. We'll just paint it purple.

Beinga home owner can be scary at the thought of the amount of money you're going to spend but in the end it's better than paying rent and you can paint whatever color you want.
My advise which I'm sure you know is if you get approved for X amount of dollars you don't have to spend that much. Don't go in over your head. We got our house after someone had it forclosed on them. I know it's common sense but none the less.

Thanks for the advice. We're looking for an older home with a cheap price tag, but a lot of personality. We're wanting to renovate and eventually flip houses and we would use this one as a springboard, if you will. So, we will definitely not be looking to spend the max loan amount. We're looking at this as an investment. Buy a house for cheap because it's desperate for some much needed renovations, do the renovating over a couple of years, sell at a higher price to claim our built-up equity, take that money and do it all over again. Both, Jodi and I are into this sort of stuff, so it'll be more like fun and less like work to us.

Good luck with the house buying...that's probably the most scared I have ever been, writing a check for the down payment that was so big I couldn't get all the words to fit on the line...but I've never been so happy. The dogs love the yard and I love being able to nail and's worth it, i promise.

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