parallel
07-06-2009, 10:42 PM
LOL... this Friday at 1600 we will close on the new house. After weeks of staying on top of lenders, appraisers, contractors, realtors, title companies and on and on so as not to allow any of them to drop the ball... SHE gets all nervous after everything is FINALLY set!
I literally had to sit down with her and explain that we are getting our financing through one of the most stringent lenders there are (NFCU). We intentionally lowballed our income on the application as well as had NFCU approve us as though we are keeping both houses for ourselves versus renting the old one out. The lender says we will be fine and that we are far below even their stringent income to debt ratio. Not to mention, we have run the financials on this decision countless times in the last two years and at least a dozen times in the last three months. In fact, we finally got the Base Flood Elevation Certificate and it turns out that flood insurance will cost about 2/3 less than we had estimated in all of those financial models. For Christ sake, if we can't do this now we'll NEVER be able to. Interest rates and property values are very low, our income is steady and our net worth is higher than ever... if not now when?
Oh well... in reality... this kind of financially responsible behavior is one of the many reasons I LOVE her so. Mrs. Parallel is many things... the ONE thing that she is not... is high maintenance.
I literally had to sit down with her and explain that we are getting our financing through one of the most stringent lenders there are (NFCU). We intentionally lowballed our income on the application as well as had NFCU approve us as though we are keeping both houses for ourselves versus renting the old one out. The lender says we will be fine and that we are far below even their stringent income to debt ratio. Not to mention, we have run the financials on this decision countless times in the last two years and at least a dozen times in the last three months. In fact, we finally got the Base Flood Elevation Certificate and it turns out that flood insurance will cost about 2/3 less than we had estimated in all of those financial models. For Christ sake, if we can't do this now we'll NEVER be able to. Interest rates and property values are very low, our income is steady and our net worth is higher than ever... if not now when?
Oh well... in reality... this kind of financially responsible behavior is one of the many reasons I LOVE her so. Mrs. Parallel is many things... the ONE thing that she is not... is high maintenance.