The Hubs and I have been married for almost 4 years. We are busting at the seams in our apartment. We’ve been praying about “buying” but we had some foolish youthful folly (in my case shoes) on our credit report. In November, I started cleaning up our credit reports. Basically, I challenged everything on our credit reports.
In December, I spoke to a realtor (Richard Doyle) who is certified to help buyers with HUD properties (those are properties owned by HUD because of foreclosure). Richard asked us to speak to a mortgage broker and recommended Jared Zirkle at Nations Reliable Lending. I spoke to Jared in December and he pulled our credit scores and laughed in our faces….NOOOO he didn’t do that. He told us our numbers were low because we didn’t have any credit on our reports. He recommended that we each get a credit card (which we will immediately cut up and close when we get into our house) to improve our score. We did as he said and when he spoke to us at the end of January, I told him we would be purchasing based solely on Hubs’ score as I have not been working (other than at home). Hubs’ score was now high enough for us to get a mortgage. Now for the next hurdle…the Hubs’ earns a good base rate at work but the commission he earns is more than 50% of his income. After getting some of our information to (because it takes a while to get ALL your information to your broker…eventually, they will know how often you go to the bathroom in a day), he gave us a number. That was at the end of February.
That was about the time we found that although our lease was up (at the end of February) and we had the option to go month to month, our lease only allowed for two months on our month to month. That put the pressure on us to find something “fast”. Having been a realtor I realized that from the time you find a house and close on a house could take anywhere from 6 to 10 to 13 weeks…it’s anybody’s guess. Richard took us to see a few houses, some homes HUD had for sale and some traditional sales. We put a bid in on the first house we saw…in fact, he only took us to see about 5 houses. Keeping in mind, I had been shopping online for a few weeks already and had an idea about what I wanted and the Hubs’ just wants a room for his music…he’s easy like that.
The house is a HUD which means it is purchased “as is”. And we didn’t have much “wiggle room” as far as our offer went. When you bid on a HUD you can offer only 5% (I think) less than the listed price. Where as with a traditional listing you can pretty much negotiate a new puppy into your house deal. (Seriously, I once had to write an antique bed into a deal).
Jared has been superman on this deal. He had to first get us approved for a little more loan based on the Hubs’ commission. Then he told us our USDA loan could take several additional weeks not to mention that dealing with HUD can be challenging.
Richard told us we had to put a bid in by Friday (that gave us 7 days to decide what we wanted to do). And he was going to go out of town on Friday so if we could let him know a day or two before that it would be great.
After a little coordination we decided we wanted to put our bid in. That was on the Monday before the Friday and I was out of town. The Hubs had to take care of the details. I’m the detail person in this duo. He took care of it and Richard put the bid in on Wednesday because of his upcoming trip. We held our breath. We thought we would have to hold it until Saturday but on Friday morning Richard called us and said “WE GOT IT!”. Apparently, he had miscalculated the days and we had to have it by Midnight on Thursday rather than on Friday. Wow…Miracle number 3.
Jared called and set our closing date as April 29th. I was a little bummed…that only gave us one day to move and I was hoping for maybe a week. He told me it could take the USDA up to two weeks to approve a loan. I told him I would love it we could get it closed a few days earlier. He said he would be a little surprised if we closed by the 29th…closing after the 29th would almost be a disaster for us.
When you buy a house, timing is everything.
The house passed the appraisal process….it is a great house.
Jared called me last week and said miracles of miracles the USDA had our loan for only 4 days…miracle #4. We might close earlier than anticipated. He also told me we are getting a great deal. Our house is in great condition for a HUD. Next the loan goes to our other investor for approval. This could take a week.
Jared called me today and announced our loan is approved all that is left is documentation and a lot of signatures. He said we will close NEXT WEEK! He also said that he cannot believe we are going to closing so quickly. I told him we have been praying. MIRACLE #5 (or 18….I have lost count).
We all learn something different in our walk with God. The Hubs said he had been praying about the house deal last year and he told God, “If you will increase my income I’ll buy a house.” and he felt God tell him, “That isn’t faith…faith is stepping out when you don’t see the increase but trusting that I will bless you.”
For me, this process has been a little like my marriage. When things get “hard” in our marriage (and EVERY marriage has times of difficulty…anyone who says differently is lying), I remember that God is the one who arranged our marriage and if He is for us, who can be against us? God blessed us with a truck and when things go wrong on the truck and repairs are required I know that God is going to get us through because He brings no sorrow with His blessings. And when things go wrong with the house (and as with all houses, cars, appliances, etc things will need repairs) I will remind myself that “God’s got this”. His “yeses” are “YES”! When He says “Yes” all the “Nos” fall away.
I praise God for all His blessing. I praise Him for all His favor in this process! As my friend Pastor T-Bear says, “Can I get a AMEN? Somebody praise HIM!”