Anybody recently purchase a home?

[M-technik-3]

Debating it but my area is still over priced from where it should be. Not looking to commute more than 20 miles either at the moment as commuting @#$&!

Fuel market is far too unstable to commute.

If you did how easy was recieving Obama's hand out? Looking for payments of less than 850 a month including fees. Renting at the moment and paying far more than I should. Rather put some money in my pocket vs anothers.

[e30frosh]

Still in the middle of purchasing. Just handed the sellers the building resolution for "fix it" items before we move in. From all I have read, the handout is taking about 16 weeks maximum. All you have to do is fill out the proper forms and wait on the IRS. Hence, 16 weeks.

[nrubenstein]

I just sold my place. I'm looking for a place that I can buy cash or close to cash on and off, but mostly biding my time until I'm out of B-School and have income to qualify for a mortgage again.

[M-technik-3]

How has it been dealing with the bank? I'm going to use my VA loan so trying to do some homework.

[scabzzzz]

I actually called my bank for some debt consolidation so I can purchase a home last week. Homes are dirt cheap in the shittier east side areas over here. Like, 1500 sq ft half acre lot for 50k~ . Some semi-remodeled, some not. Lots of developers and investors came here then had to bail out. Prime real estate!

[z31maniac]

Closed on a house almost two months ago to the day.

I've been using TaxAct for a few years now to file my taxes. Went online filled out the appropriate paperwork to file an amended 2008 return (so I wouldn't have to wait til next year). Got my $8000 check about 4 weeks ago.

[M-technik-3]

Nice to hear that, I use taxslayer I'm sure I could go that route. Lots of homes for sale in my area but here in the North East the market is everywhere, lack of buildable new lots or zoning law constraints.

The 8k tax credit has been extended so I guess I will do a few seminars and maybe try to find a foreclosed upon house in the amout I want to pay.

[assoutE12]

I bought my house about 2 months ago, all I did was go in to the place that did my taxes and sigh a piece of paper. Haven't got my check yet.

[TwoJ's]

I really have no idea about Obama's handout deal as I bought my house three and a half years ago. I have a CPA friend do my taxes, and since I was self employed for the last 5 years, I was always just happy to break even and not owe uncle sam anything.

I'm on the cheap side of the state, and I got a 1400 sq. ft., 3 BR house on 1/3 acre for 215k. That was actually a very good deal considering what else was available in the town. It is close to campus and I have been able to rent the other two rooms and get $900 of the mortgage paid every month. I am unsure if I will sell when I graduate in June, or if I will rent it out. Depends on the market at the time, and whether or not I will need a down payment on a house for when I move to the good side of the state.

[Restoman]

CRAP, just deleted a long post.

Cliffs:
Don't do a VA.
15 year conventional preferably
20 is okay
as much down as possible hence the no VA
Who cares where values are supposed to be. Current prices are current buy what you can afford and you will be alright.

[Bavarian3]

Just bought one (our first) in late June. Check out zillow.com for current housing prices within the area you are looking at.

We were going through Sun Trust but they really dropped the ball on getting the paper work done, so we went with a smaller bank. Our loan was USDA (it's for people who make less than 70k combined) 0% down, 100% financing. Our loan through the bank is 5.25% for 30 years fixed.

Since I am married, the tax return was split. I got mine in a matter of three weeks. My wife is still waiting on hers; when she called to check on it, they said mine was a case of exception.

I heard the VA loan is pretty much like the USDA; so I don't know why you wouldn't want to take advantage of it? Granted putting nothing down somewhat sucks; but when you have been living in apartments (like my self) and wasn't planning on buying a house; it's nice to have that option.

Sometimes the foreclosed houses are a great deal; however the Banks are a pain to make deals with. Short-sales take for ever to close; my two friends are still waiting for the deal to be agreed upon; that was about 3 months ago.

[kway]

Yeah, the prices in Mass have come down, but they're still ridiculous in relation to the rest of the country. We looked to move closer to Boston where we work, but couldn't justify the cost for the amount of house you get. We ended up buying in Nashua. Commute sucks sometimes, but we probably would have had to pay $450k in say, Billerica, or $800k+ in Belmont for a comparable house to what we got just across the border.

Got an FHA loan, 5.35% 30 yr. fixed, moved in in August, and had the $8000 check by October. $850 is going to be tough unless you have quite a bit to put down. Closing costs are a bitch too. Even with the seller paying $7000 of ours, we still had to come up with around $10k at closing. Might be cheaper in MA though, I'm not sure.