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Xenosaga, Say What?, Huh?

*blinkieblink*

I... uhm. I got a call from Dan Crittenden, the mortgage guy, this morning.

I got approved.

First-stage only, there's still more to go through, but I got approved for a $450,000 mortgage. I have to put down $20,000, but that's way better than the $90,000 that Mike and Keith have been pushing for, and the payments are still lower, and I'm allowed to declare the $20,000 a gift -- meaning I can beg it off of mom from her inheritance, and it won't affect the approval. And the interest is 6.5% fixed.

I got approved.

...are these people INSANE?! o.O;

Comments

What sie said.

Also, if they want you to get mortgage insurance, just say no. If you've got good credit (and it certainly sounds like you do), you can get around the mortgage insurance by getting two mortgages at once. That's what we did five years ago, and it should still be possible today. The second one will have a higher interest rate, but unlike mortgage insurance, when it's no longer necessary, it'll go away automatically.

$450k sounds like an awful lot of money, especially for a house you're not thrilled at the possibility of owning.
What sie said.

Also, if they want you to get mortgage insurance, just say no. If you've got good credit (and it certainly sounds like you do), you can get around the mortgage insurance by getting two mortgages at once. That's what we did five years ago, and it should still be possible today. The second one will have a higher interest rate, but unlike mortgage insurance, when it's no longer necessary, it'll go away automatically.

$450k sounds like an awful lot of money, especially for a house you're not thrilled at the possibility of owning.