buying a house

[meow meow]

I will say tho, we both have credit in the 800's and only got approved in the 200's. Is that normal?

only two of you and I doubt that's your forever home so wtf would you want a bigger house or to pay more?

you know that wacky is gonna become besties with KU Karl next door, they sit out in the driveway and drink beers by the firepit every saturday night.  every time they think about moving to a bigger house, wacky just can't let go of the sweet set up he has, and Karl.  we'll just stay in this house one more year he says. 

[ew2x4]

We're looking to sell/buy soon. We got pre-qualified (not pre-approved, same thing, just not formalized) to borrow $500k.

Granted, you could easily spend that here in CO, but still. It's crazy.

[wetwillie]

Sounds like the lenders are back to pre 2008 shenanigans

[yoga-like_abana]

Sounds like the lenders are back to pre 2008 shenanigans

this seems a bit true.. the house we just bought we had 30k in equity to begin with on it according to the appraisal vs purchase price. and they immediately asked me if I wanted a HELOC

[420seriouscat69]

let me know when you want to have a beer, i'll be busy, but let me know

 

[420seriouscat69]

Can't wait to meet Karl.

[420seriouscat69]

I will say tho, we both have credit in the 800's and only got approved in the 200's. Is that normal?

only two of you and I doubt that's your forever home so wtf would you want a bigger house or to pay more?

Fair point. I don't want to pay for one.

[meow meow]

he'll probably come mow your yard at least once a year, when you're out of town.   you'll probably catch a few royals game together, and when your wives are out of town or having girls night, you two will probably belly up at Johnny's Tavern.

[420seriouscat69]

 

[420seriouscat69]

Karl sounds like someone I could PI about KU football renovations and he'd lol until the big KSU-KU bball game.

[ew2x4]

They are definitely more loose with lending. Part of it is Colorado's housing market is that crazy so they may need to be a bit more loose. Part of it is a credit score of 829 (suck it WC).

[Institutional Control]

I will say tho, we both have credit in the 800's and only got approved in the 200's. Is that normal?

The general rule is 3 times your income. Unless you make a combined $90k or less, that's not normal.  They may be accounting for how much money you plan to put down.

[420seriouscat69]

The only reason my credit is so good is for paying a massive amount on private loans per month. Nice work we2x4. I guess that and the cc thread @stevedave provided.

[420seriouscat69]

I will say tho, we both have credit in the 800's and only got approved in the 200's. Is that normal?

The general rule is 3 times your income. Unless you make a combined $90k or less, that's not normal.  They may be accounting for how much money you plan to put down.

Yeah, we make way over that. It's gotta be school debt.

[SPEmaw]

I will say tho, we both have credit in the 800's and only got approved in the 200's. Is that normal?

Credit score has more to do with the rate you're able to get than the overall amount the lender approves you for. Your household income, contingent liabilities, debt-to-income ratio, etc. contribute more to the amount of the loan you qualify for.

Regarding the 3x income theory - a lesson I have been told was to keep your rent/mortgage < 30% of your monthly disposable income.

[Kat Kid]

I will say tho, we both have credit in the 800's and only got approved in the 200's. Is that normal?

Credit score has more to do with the rate you're able to get than the overall amount the lender approves you for. Your household income, contingent liabilities, debt-to-income ratio, etc. contribute more to the amount of the loan you qualify for.

Regarding the 3x income theory - a lesson I have been told was to keep your rent/mortgage < 30% of your monthly disposable income.

This is a great rule for college towns and suburban midwest livin.

[Mrs. Gooch]

They look at total debt-to-income ratio. I think the rule is usually around 43%.

['taterblast]

security system recommendo's plz tia

[Institutional Control]

security system recommendo's plz tia

I have a SkyBell, it works great.


Sent from my iPhone using Tapatalk

['taterblast]

ok but it's not even on this random list i found NEXT

http://www.asecurelife.com/best-home-security-system/

[star seed 7]

12ga

[puniraptor]

dirty sneaks outside your door

[SdK]

Buy a gun or two. Yw.

[Brock Landers]

Pit bull for the front and back yard.

[The Big Train]

I've heard nest thermostat is a good brand