Dear Quentin, I wanted to share my experience with the current housing market and ask for advice on my next moves in a seemingly impossible situation. Let’s take a trip back to 2017. I was married at the time with three young children, and my then-wife and I were renters. We both worked the best jobs we could for our education and experience, which was not much at the time.
She brought home $2 per hour, plus tips, waiting tables at a nearby restaurant, while I worked at a marine store for $500 a week. We rented a very small manufactured home in a mobile-home community and paid $800 per month in rent. We were able to save for a year to take our next steps toward home ownership in 2018. We found a home through my wife’s former colleague. It was a three-bedroom, two-bathroom 1,400-square-foot home on 1.53 acres of land. We obtained a price of $145,900 from the seller. We were approved for an FHA loan at 3.5% down and a 4.625% interest rate. This was all our savings, but we took a leap of faith and agreed to move forward. A single fath …
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She brought home $2 per hour, plus tips, waiting tables at a nearby restaurant, while I worked at a marine store for $500 a week. We rented a very small manufactured home in a mobile-home community and paid $800 per month in rent. We were able to save for a year to take our next steps toward home ownership in 2018. We found a home through my wife’s former colleague. It was a three-bedroom, two-bathroom 1,400-square-foot home on 1.53 acres of land. We obtained a price of $145,900 from the seller. We were approved for an FHA loan at 3.5% down and a 4.625% interest rate. This was all our savings, but we took a leap of faith and agreed to move forward. A single fath …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]