Today has been a good day. I had a rehearsal with my accompanist for NATS that went very well, followed by a visit to my mortgage agent. After she left our first bank I didn't have any of her contact info but luckily she called me and I gave her my info so I could have her be our agent again. She's really awesome if you're looking for a good lender, I'm happy to pass on her information.
For the last several months we've been attempting to pay down debt in order to qualify for a home loan and the Oregon Grant. The Oregon Grant is a down payment assistance program that covers a 3% down payment. The problem we were having is that the criteria for the loan that works with the program is a bit more particular. So we were paying down specific credit cards and trying to get Paul's credit score up. The loan officer that had been assigned to us after our first officer left seemed less than enthusiastic about getting us qualified. I had to ask him several times to rerun our credit to see if any improvements had shown up yet. So when she called me I was thrilled to have her back!
Today I finally got to meet up with her and have her run our numbers. The great thing about Jenny is that if she hits a wall with one program she'll keep looking for other options. The Oregon Grant is out of funds right now so that was a dead end, but we do qualify for an FHA loan. The challenge with this is that we'd need a down payment, but we aren't left at the mercy of Oregon Grant funds. What's awesome is that not only do we qualify for the FHA loan, we qualify for about $50k more than what we were approved for a year ago. Thank you lower interest rates! This higher limit also is still within our monthly budget.
So now we're on a mission to get a down payment saved and to find a house!
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