Humble Abode Series

Now that I am bordering on middle age, I've begun to feel like now is the time in my life to pursue homeownership. I thought it might be fun/interesting or potentially boring to chronicle the process for others that may be interested in finding out some information. Today starts the first post of the Humble Abode Series.

The first thing I did was ask around on what the first step would actually be because I wasn't quite sure where to start. Many suggested that I reach out to a mortgage broker to get an idea of what I would be pre-approved for meaning how much I would have to save and how much I could realistically shop for.

I found this gentlemen through someone I worked with and reached out via telephone. It was quick. He asked for my social, income and address. He took a couple of days and got back to me with a figure that I would be "prequalified" for with a FHA loan. He offered to provide me with a pre qualification letter which I guess would be important support when I go to actually look at houses.

To be honest, I was disappointed with the number he gave me. I asked him to explore some other loan options but I think it made me realize that I really need to get my debt under control and save, save, save.

I'm proud of myself taking this first step and getting an idea of what I can afford. I will keep you all posted on the next phase of the Humble Abode Series!