On Monday evening, we went to NOIC to seek preapproval for a home loan. I had been skeptical, based on our credit score (provided by a credit card company) and our credit card debt. Internally, I had resigned ourselves to the seeming impossibility of selling the trailer, and was very much intimidated by the impending process (read: more autographs than Billy Dee Williams at a Star Wars convention). Tina an NOIC made it virtually harmless!
There was no fee up front, and only $750 when we do buy a house (at $130K). Not bad at all! Furthermore, she revealed that our credit scores are GREAT! 7 teens for me and 7 twenties for Jen. As it turns out, having all that revolving credit is actually good! Well, paying them on time and not maxing them out is the good part. We got approved for $130,000 at 7% through FHA. Using approximations for taxes, this is the amount of house we could get for what we currently pay, between lot rent, mortgage and storage!
We still need to come up with cash for a down payment. If we get money from family and/or friends, she said they have to be specifically noted as gifts. Just click on the PayPal logo below!
If you know anyone looking for a nice (mobile) home in a nice (mobile home) community, click on the house logo below!
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