meg2sue
Team Owner
If you are a first time home buyer you can see if your city has funds to give for downpayment and closing cost assistance. This helps tremendously, you can pocket your funds if you qualify for upgrades and such.
Good luck OP! To help with the impulse buying stop, breath, and think. Giving the impulse time to pass. Then walk away. Use your new home as motivation as well.Question, I have a year left on my lease and I’m trying to buy a house. I just got approved from the bank yesterday! I know exactly what I can afford to buy now.
Whoo hoo! I have about $4K in savings already. I bring home $2500 after all bills are paid every month. I’m trying to buy this without my Dad’s help on a down payment.
I want to put away $1500 every month! My goal is to have $15k saved up a year from now.
Is $1000 a month too little to live on?
Can I go lower than that? Is it worth it to get a second small part time job?
I got rid of all excess spending like my F45 and Cyclebar memberships.
Not going to lie I spend a lot of money on food and will drop a couple hundred at the farmers market on impulse buys.
I need help figuring out how to live on $1000 a month and not give into impulse buys!
Thank you!
Congrats.Question, I have a year left on my lease and I’m trying to buy a house. I just got approved from the bank yesterday! I know exactly what I can afford to buy now.
Whoo hoo! I have about $4K in savings already. I bring home $2500 after all bills are paid every month. I’m trying to buy this without my Dad’s help on a down payment.
I want to put away $1500 every month! My goal is to have $15k saved up a year from now.
Is $1000 a month too little to live on?
Can I go lower than that? Is it worth it to get a second small part time job?
I got rid of all excess spending like my F45 and Cyclebar memberships.
Not going to lie I spend a lot of money on food and will drop a couple hundred at the farmers market on impulse buys.
I need help figuring out how to live on $1000 a month and not give into impulse buys!
Thank you!
Congratulations you can do this!Question, I have a year left on my lease and I’m trying to buy a house. I just got approved from the bank yesterday! I know exactly what I can afford to buy now.
Whoo hoo! I have about $4K in savings already. I bring home $2500 after all bills are paid every month. I’m trying to buy this without my Dad’s help on a down payment.
I want to put away $1500 every month! My goal is to have $15k saved up a year from now.
Is $1000 a month too little to live on?
Can I go lower than that? Is it worth it to get a second small part time job?
I got rid of all excess spending like my F45 and Cyclebar memberships.
Not going to lie I spend a lot of money on food and will drop a couple hundred at the farmers market on impulse buys.
I need help figuring out how to live on $1000 a month and not give into impulse buys!
Thank you!
Yes, I was referring to both who were in that convo. I wanted to clarify and provide some accurate infoAre you talking about me? I’m a realtor. I was just trying to give her a simple explanation of down payment requirements.
I was just about to say this. I'll wait the next week when I know there's a sale and can stack my coupons. Certain items like nail polish remover and toilet paper I buy at the Dollar Store.As for groceries, household items, and beauty products, I like to coupon and buy on strategic days. I also buy what's on sale instead of going for a brand name I'm used to.
What type of work are you doing ?Question, I have a year left on my lease and I’m trying to buy a house. I just got approved from the bank yesterday! I know exactly what I can afford to buy now.
Whoo hoo! I have about $4K in savings already. I bring home $2500 after all bills are paid every month. I’m trying to buy this without my Dad’s help on a down payment.
I want to put away $1500 every month! My goal is to have $15k saved up a year from now.
Is $1000 a month too little to live on?
Can I go lower than that? Is it worth it to get a second small part time job?
I got rid of all excess spending like my F45 and Cyclebar memberships.
Not going to lie I spend a lot of money on food and will drop a couple hundred at the farmers market on impulse buys.
I need help figuring out how to live on $1000 a month and not give into impulse buys!
Thank you!
So with the FHA loan your paying 3% of the purchase price as your down payment right? Don't you qualify for a couple of programs as a first time home buyer? There is a Downpayment Assistance Program (DAP) Loan that you can qualify for in Tennessee that works like a grant?( I should just google but I'm lazy) all you have to do is take a class.Thank you! Such a great idea! Spot on! I’m told that I need to keep at least 10000 in the bank for housing emergencies like HVAC!
So my real estate agent is putting me in contact with someone who helps
people finance loans. I’m getting the FHA loan.
If you have $2,500 after the bills are paid and put up $1,500, what would you be spending the $1,000 on? How are you living that that wouldn't be enough and bills don't have to come out of it.Question, I have a year left on my lease and I’m trying to buy a house. I just got approved from the bank yesterday! I know exactly what I can afford to buy now.
Whoo hoo! I have about $4K in savings already. I bring home $2500 after all bills are paid every month. I’m trying to buy this without my Dad’s help on a down payment.
I want to put away $1500 every month! My goal is to have $15k saved up a year from now.
Is $1000 a month too little to live on?
Can I go lower than that? Is it worth it to get a second small part time job?
I got rid of all excess spending like my F45 and Cyclebar memberships.
Not going to lie I spend a lot of money on food and will drop a couple hundred at the farmers market on impulse buys.
I need help figuring out how to live on $1000 a month and not give into impulse buys!
Thank you!
Congrats on taking steps to reaching your goal of home ownership.Question, I have a year left on my lease and I’m trying to buy a house. I just got approved from the bank yesterday! I know exactly what I can afford to buy now.
Whoo hoo! I have about $4K in savings already. I bring home $2500 after all bills are paid every month. I’m trying to buy this without my Dad’s help on a down payment.
I want to put away $1500 every month! My goal is to have $15k saved up a year from now.
Is $1000 a month too little to live on?
Can I go lower than that? Is it worth it to get a second small part time job?
I got rid of all excess spending like my F45 and Cyclebar memberships.
Not going to lie I spend a lot of money on food and will drop a couple hundred at the farmers market on impulse buys.
I need help figuring out how to live on $1000 a month and not give into impulse buys!
Thank you!
Girl, this is an amazing blessing so don’t turn it down. My parents helped me purchase my home ans I have no shame in that. I had a lot saved so their assistance helped make shed my down payment was higher and my monthly payment lower. If they are willing to help, go for it. You will thank them down the line because there are so many hidden costs that come with homeownership. Plus other races get help from their parents, why not us? That’s intergenerational wealth and asset building you are turning down!I’d like to keep my Dad as a resource for just in case or get him to pay off my student loans for me.
I just want to say I bought this house 100% on my own. My Dad is good but you know how people like to sometime hold things over you.
But maybe he can build the fence if it doesn’t have one already hahaha! Good idea!
You do. Well I do. I have that and it seems like it’s barely covering closing. But I am in nor cal. This market is tooooo messed up for me right now.I haven’t read the whole thread yet so sorry if you already answered this, but did the bank tell you that you only needed $15k for the down payment? I’m saving for a home too and I always thought I needed more
I just spoke with the person who covers my areas for the USDA Single family loan program, construction to permanent loan.... and Jesus be a fence. It’ll never happen and it basically said so bc alllll parties involved is basically giving the land, doing the build and doing the contracting up front with payments along the way. No one here is going to do that, so while that program is good it’s not easily attainable.Wow wow! So much good advice on this! Y’all really come through on ya girl!
1. So I’m doing the USDA loan and got it approved through my mortgage officer. So it’s 0% down because I’m buying a house in the zipcodes that qualify for it! Also, I’m looking into building a brand new home as well. The loan qualifies for that! So I don’t need my Dad’s help at all! Maybe until I want my fence potentially. Lol
To the font who lives on NYC maybe check out some rural zipcodes outside the city and see if anything qualifies! You won’t have a downpayment! I live in Nashville and thankfully everything that qualifies is about 20 miles outside the city which is a 25-30 drive. This is a sweet deal!
2. I work for a government contracting company.
3. To the font that said don’t be too ashamed to do side jobs. I completely agree. I realize I can work 2-3 jobs this summer and make $$$. Put that money from side jobs in a bank account on top of my savings and main accounts. I will look into the APR! Thank you to the fonts who
mentioned that! I’m just about to hustle it for a few months but not overdo it! Anything helps! Lol!
4. Great advice about moving money to another account outside my savings and checking! You are so right I can definitely live on $1000.
My mortgages is technically 1300 but after insurance, and taxes and whatnot is going to be around $1700 so you weren’t lying about it all adding up. Thank you! I need to tone it down and lively frugally for a few years!
5. Fonts I actually love to cook! That’s the problem I’m buying all this Wild Alaskan seafood and Tomahawk ribeyes m, and duck and that gets me in trouble! My butt needs to eat rice and beans and keep it moving! I also buy way too many fresh juices and smoothies and need to stop that too.
My motivation is to get my land going to grow food and save money with that period! Thanks for reminding me to think of the end picture always!
Thanks y’all! My realtor and I are meeting up next week! Will keep you posted!
You'll need about 20k for closing cost, and more if you need repairs. So keep that in mindQuestion, I have a year left on my lease and I’m trying to buy a house. I just got approved from the bank yesterday! I know exactly what I can afford to buy now.
Whoo hoo! I have about $4K in savings already. I bring home $2500 after all bills are paid every month. I’m trying to b
It may sound crazy but sometimes you reach a point in your life where you want to look at your accomplishments and say “I DID THAT”. Plus, you don’t know her dads situation. Many parents would give their last dollar to help their kids even if it means they have to struggle right after giving it. I wouldn’t take the money either. My parents have done more than enough.You sound absolutely ridiculous talking about you don't want your daddy's help....UNLESS he's the type to hold sh!t over your head or act like it's his because he helped you.
Girl I’m familiar with middle tn area. Affordable where that housing market is extremely competitive. If you can get help with down payment you should take it. The whites get help from family and it’s not bad if your parents can afford to help you. The more money you can put down then that the less your mortgage will be. Whether you get help from your parents or not it’s still your home. Buying a home is expensive you have to account for down payment, closing cost, moving expenses, furniture etc.Middle TN! I’m looking for land! It can get a property with 1-4 acres for about $30000 depending on where it is! It’s super affordable still!