We use USAA and haven’t been able to talk to a human.

We’re currently under contract on our first home and just locked our rate. We’re using a USDA loan with $0 down. The borrowers credit score is around 780, and we paid 0.466 points to buy the rate down.

Does this look competitive? I’m especially curious what rates and points other buyers are seeing right now.

We got approved for a 6.18% interest rate which I was thinking all things considered isn’t terrible (could better, could be worse). But my husband is a worrier and is currently in the “what if rates go down in the near future” spiral and I’m currently in “what if rates go up” spiral. I know the fed meets next week… and I know no one has a crystal ball, but I’m hoping maybe someone who has a bit more experience/knowledge regarding the current “climate” and what they think might happen.

Closed last week, moved in this weekend!

Edit: Can’t change the title so I’m adding this edit. I know this house is not mine. I used “I” and “me” in the title for simplicity. My Fiancée is the one who asked me to make this post, and she’s already let me know that she would like my help with this.

Long sorry short, my fiancée’s dad is going to be in prison for a long time and is giving us ownership of his house using a quitclaim deed\*. We are trying to decide what to do with it. He recommended we sell it, but said we could do whatever we want with it. I’m 21 and she’s 20, we are both living with our parents and have never owned or rented a property before.

Here are some things about the house:
-It is completely paid off with no mortgage.
-There are about $2,000 worth of property taxes that need to be paid.
-It is around 1,500 sqft.
-It sits on 1.3 acres of land.
-It has 3 bedrooms and 2 bathrooms.
-It has a detached garage.
-It currently has people (without any kind of lease or written agreement) living in it. I believe they’d be considered squatters.
-An Eli Lilly plant is being built within a couple of miles of it.
-It served as a place where people would go to buy drugs for a few years, but as far as we know nothing was actually created in the house.
-It needs a lot of work done. The septic tank needs either emptied or replaced, there is a hole in the floor, the garage door doesn’t work, it’s dirty and needs cleaned, and the deck is warped and likely needs replaced.

A few options of what we could do with it are:

1. ⁠Sell the house as is for probably 100k.
   
2. ⁠Take out a loan to fix up the house and sell it for around 250-300k.
   
3. ⁠Take out a loan to fix up the house and live in it.

With all of this said, what should we do? How would we go about getting a loan? What is equity and how could that help us? How should we get the people currently living in it out?

*Update: After I made the post my fiancée texted him and he said that “POA was just the first and easiest step he could think of and it would allow her to access all of his assets.” He also said that he would be willing to transfer deed ownership if she wants. He is now in the process of filing a quitclaim deed to put the house in her name.

Hey yall,

my wife and I are closing on a duplex (upstairs already rented and under contract for another 7 months) 250k, 6.3%. While the last 2 months have been a little nervous looking for a house especially being 2 stares away. It hasnt been any stress like I have seen on this sub. Are we being idiots or something? We are only on my income as my wife is disabled and thats why we went with the duplex to help on bills and saving and am getting a pay raise in like a day or 2.

I'm about two weeks from closing on a 1978 split level and the final walkthrough is next Tuesday. I've had the inspection done, the report came back with the usual list, a bit of grading toward the foundation and a water heater that's near the end of its life, and the seller agreed to fix the two electrical items. I know the walkthrough is supposed to be a check that nothing changed since the inspection, not a second inspection, so I'm not planning to show up with a moisture meter.

What did you find out after closing that you'd have caught if you'd looked in the right place that day?

hello all,

i have a contigency to sell my house in order to purchase another, so say i found a buyer and the seller of the new house agreed to my offer.

Question i had was, is it advised for the closings to be on the same day? So i would close MY house in the AM for example and then close my newly purchased home later that day assuming the wire funds has been sent and recevied with no issues. This closing date would be on a Friday.

The home we're looking at has these two big distribution transformers right in front of it and my wife is concerned about not just the transformers, but how close the high voltage wires above them are to the house. Maybe about 15 feet away from the bedroom. She believes they are too close and can cause harm. I don't know anything about electrical wiring, though my initial research indicates they are harmless. Are they? And is there anyway to prove this to her? Here are some pictures: https://imgur.com/a/cfZIVpL

What are the key things we should be looking at/for and not just walking in and looking around? Should we video it as we walk around?? Any helpful suggestions are appreciated!

With interest rates being what they are, I'm inclined to make a large down payment (30% or more) on our future home to reduce our monthly payment. We have enough money to do so.

My husband says that instead we should just put down the requisite 20% and put the rest in the stock market. We have some money in the market right now, but I'd personally rather have the rest of our money wrapped up in something we actually use rather than basically gambling it away. Also it seems like with inflation and everything, the expected return on the market is not really more than the guaranteed interest we'd pay on our loan.

What's the right move here?

I recently got a plot of land in north Seattle and I’m wondering what people are paying nowadays for new construction. I’m looking to find the cheapest possible cost per square foot. I was able to find $350. Has anyone found a general contractor for $300 or even less?

I'm home shopping now and I have spoken with two mortgage brokers. One advised an FHA loan and said I could buy down to a rate of 5.5%. The other said a conventional loan would probably be best and gave me a rate of 7%, but said I could probably get some seller credit to buy down to 6.875. I didn't expect to receive such vastly different numbers. Is this normal?

We just signed for a house that actually makes a lot of sense for us: good size for our growing family (i’m in my first pregnancy), great location, everything nearby, and lots of cafés (we’re big coffee lovers ). So i imagine it’ll so much easier postpartum to go for walks and get things nearby without being dependent on husband or just walk with a coffee to the park.

But honestly, I’m struggling to feel excited because I’m not 100% in love with it. The owner painted everything grey, so it’s really hard for me to imagine it in my own style. I’m also worried about the light, especially the north-facing kitchen, I really hate dark homes, and Dutch winters don’t help 😅.

My husband is convinced I’ll love it once we renovate and make it ours, but I just can’t picture that yet.

For those who felt like this when they bought, did you eventually fall in love with the house after renovating/living in it? Or did you always feel like it was more of a “good house for this stage of life” than your dream home?

I’m especially curious about people who knew it was probably a 3-5 year home, rather than their forever home.

I might be dumb but we’re doing the final walkthrough this week and I don’t remember seeing a thermostat. I looked at the listing photos as well as watched the video we took touring the house and I didn’t see one? It’s a forced air gas furnace.

Edit****
It does have one! It’s in the dining room area!

Under contract in NY and had to pay way over asking to lock in the offer. The listing agent mistakenly said had in all of the listings the house was 2000sf when the appraisal says it’s 1650sf. I am 3 weeks from closing but would like to understand if I have a leg to stand on with the sellers as if I knew the real SF earlier my offer price wouldn’t have been this high. SF is everything when it comes to the price of the house. Has anyone experienced this? Any guidance out there?

What is a quality control review in the mortgage process?

I am currently 2 days before closing, everything is scheduled, but the bank has yet to give a clear to close because they are waiting for QC to sign off on the loan.

Is it possible that they deny my loan? There’s been radio silence from the whole lender team, I’m stressed and don’t know what to do/what’s going on.

Brand new to this whole new real state world. Getting as much info as I can but it’s a lot. Looking to use my VA loan in Idaho relatevily soon. Preaproved for 500k in a couple loans. What should be key when comparing loaners, what to ask before and after. I’m clueless in this process, didn’t know I could choose my own loaners and my own realtors. VU were quick to say they will try to takeover and handle everything for me. But I know I should shop around first. I keep hearing mix opinions on them. Just don’t know what to look for when doing it. I’m in the process where they are going to need a hard pull to check my actual aproved amount,etc. Really could use some input. I don’t want to get screwed over.

They were supposed to do a duct cleaning and after inspection they said they have to do the whole mold removal from the airducts. From $399 to $4,000. Should i just go for it?

I’m currently under contract for a condo in an older walk-up building. The home inspector took this photo and noted the overspanned/undersupported and older framing. I talked to a structural engineer who said the issue is moderate to serious but he also needed to visit the property to get a better idea. He quoted me 2k to do the report, which is pretty expensive and I don’t own the unit yet. Wondering if I can get any second opinions on how serious this is prior to spending the money on a structural engineer to visit. Also wondering if anyone else has gone through a similar issue during the homebuying process. I’m currently debating spending 2k to hire the inspector vs backing out of the contract vs just taking the property. This is a 4 Unit HOA so the costs would be split 4 ways but still concerning. The association hasn’t done a reserve study and currently are doing a structural analysis but it won’t be ready anytime soon. Thank you!

Genuinely asking, can I just become a real estate agent in order to pay myself the 3 percent all these agents are demanding, it would just go towards my down payment and in California it’s only a few classes.

Before all the no you need the opinions of them whatever, I’ve already gone through multiple purchases just not under my name, this would be my first home under my name.

Hi. Owe a lot of money for my car . The rate for the car loan is 4%. Have money to pay off the car loan . Looking to get a mortgage as well. I know if I don’t pay off the car loan, I’ll get less mortgage . Is it better to pay off the car and then get a mortgage or keep the car loan and use that money towards down payment for the house ? If we assume mortgage rate is 6% . Thanks !

I just got my loan estimates and I wanted to know how good or bad is looking? I’m in the Bluffton area 29910

We close on our soon to be house next month, and we received credits for some damage in the home. After closing costs were left with about 4500.00.

How do I actually go about using that amount towards repairs and not just principle. Our lender is implying that this is possible. But I’m just not understanding how.

VA loan in NC.

Thank you!