Tuesday, November 2, 2010

One year ago today...

I bought my house. I have been a homeowner for one year. Yippee!

We didn't actually move in until Dec., but the house became mine one year ago!



Anonymous said...

How did you get approved for a mortgage with your income being relatively low? I know it is completely none of my business, but I have been curious. Our mortgage is lower than yours - just under 85,000 and that was about the max we could spend tho our income is a little higher than yours.

I'm really sorry for asking a question that is seriously none of my business, I hope I haven't offended you!
-whitney (sorry it won't let me sign in)

Becky R said...

No problem. I blog about my life, so it really isn't a problem. I like to share. It is because of God I have all I do.

Regarding my mortgage I bought my grandmother's house and my family is holding the mortgage for 4 years (3 more.)

I did put $25,000 down and paid all closing costs (I had a lawyer and everything.)

After my youngest was born I lived with my mom and stepfather almost 2 years. Then I got an apartment where I paid rent of $1,140 for about 3 years. This is what rent cost in my area, so having the oppurtunity to buy my grandma's house was awesome. In my case owning really is cheaper than renting.

I pay about $1,000 a month including taxes, mortgage, insurance, water, and sewer. I could not rent anything in my area for that (even studio apartments are high.)

Becky R said...

One more thing. I give the first 10% of every penny God gives me (it is all His money anyway.) I belive this is part of the reason why I am able to make it financially on such a low income. Also I live very frugaly (usually.)

I make lots of stuff from scratch (including laundry and hand soap.)

I also shop thrift shops and ask when I have a need. Many times I get items for free.

Jeannette said...

I am so proud of you, your an awesome caretaker of what God gives you

Anonymous said...

That is great that you bought your grandmother's house. Thanks for the info, it is so interesting to see how everyone manages. Will your monthly payment stay the same after the 4 years?

Becky R said...

Right now my mortgage is $400, plus my taxes are $400, and my insurance is $100. ($900 monthly.) A mortgage usually includes all these. I am assuming my new payment will be about $1,400. That is still cheaper than renting in my area.

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