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Jul. 23rd, 2003 | 03:13 pm

So I spoke to my friend who works for countrywide and she took my loan application. Alas, my credit was too good and she needed to transfer me to the people who handle "prime" loans. (She was allowed to tell me that my rating was "just shy of 800" points).

She did also provide me information of comparable properties in the same complex it turns out, and there deal isn't quite as good as previously thought. So hopefully I can shave around 10K off of the price they're asking me for.

Aparently it's also good to have at least 5% down of which I'm only a few thousand short. (There's another break at 20%, but it's going to be a long time before I have $40,000 in the bank).

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from: bolowolf
date: Jul. 23rd, 2003 04:13 pm (UTC)

Sounds like a handy friend to have around. :) And good information too. At least knowing what you do you could bargain with the person selling their place. I'm all about bargaining. I'm told that buying a house is a very informative/eye opening process. You really learn things about houses that you never knew. I'm not sure if there's an agency out there that does this...but maybe taking homebuying classes would be helpful? I'm sure you have a busy enough schedule, but it's a thought.

Good luck!

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Diane Trout

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from: alienghic
date: Jul. 23rd, 2003 05:00 pm (UTC)

Thanks for the advice, several other people have offered suggestions as well. I did do a little on-line searching and had turned up a few recommendations. Theres some other references I should read, but it might be challenging to find the time.

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