Wednesday, December 23, 2009

i'm not as mad, but I still hate you...

so, I'm still a little pissed about the credit card company lowering my limit. I also saw that Obama extended the first time home buyer tax credit, so I wanted to see if despite this I could qualify for a home loan. I aimed rather high with how much I wanted to be approved (because let's face it, why not?). I wanted to get approved alone because Mr. Soup is in grad school and his income is not steady. The loan officer was very helpful and said that if I pay off that credit card and if Mr. Soup is making at least $15,000, I would qualify. I qualified for a smaller loan, but I decided to hold off. Even though it seemed like a deterrent, it really wasn't. It gave me a good idea of what we need to do. Hopefully we can buy by May 2011, so in the next year in a half, I plan to:
1. raise my credit score. my credit score is good. really good. it improved quite a bit since the last time I checked, but I really want to get it to excellent or near excellent.
2. pay off that credit card and pay down all other debts. Mr. Soup will start working a real full time job in January 2011, so we'll be able to do that pretty effortlessly, but before that, I want to pay down as much as I can on my own. Since he'll be making well over $15,000 a year then, maybe we can see if we could qualify for a larger loan or just be able to pay more on the existing one!
3. enter a down-payment assistance program/first time homebuyer's class
I'm so excited because all of the things seem to be falling in place.
1. Mr. Soup graduated and improved his GPA
2. He got his first choice for internship
3. We are setting the wheels in motion to start our little family!

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