Damn The Man
I just found out the worst news. As some of you know, Chad and I have been making plans to buy a house. The current plan is to straighten out our finances and work on my credit, buying a house in six month or so. I have also been working on getting my stuff together to get a teaching position in the Aug. I just found out that I would need to be at my current job for at least two years to qualify for a good interest rate on a home loan.
Two years of solid employment shows a stable income, without it, it could raise our interest rates. Checking out the calculation, there is a potential $200 a month difference between a 6 and 7 percent interest. Thankfully, I will have been at my job for 2 years this may; however, I will have to stay with my job until the first mortgage payment, which will be anything from 6 months to a year from now. I really, don’t want to say at my current job any longer than I have too, but … I would rather have a house than a better job.
Two years of solid employment shows a stable income, without it, it could raise our interest rates. Checking out the calculation, there is a potential $200 a month difference between a 6 and 7 percent interest. Thankfully, I will have been at my job for 2 years this may; however, I will have to stay with my job until the first mortgage payment, which will be anything from 6 months to a year from now. I really, don’t want to say at my current job any longer than I have too, but … I would rather have a house than a better job.
posted by Jenny @ 3:54 PM
1 Comments:
At 11:12 AM,
Anonymous said…
Life is full of difficult decisions. The best you can do is prioritize your wants and take it one step at a time. You should make a wish list and keep adding to it. Years from now when you're reviewing your wish list you will see the progress you've made. Not only will you be proud of yourself but you'll realize that you stressed this day for no reason! It all works out in the end. Take it from one who knows.
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