I just had a sudden realization today. The one thing that was good about being a military wife was were able to purchase a home with no money down. Jeff is not nor has he ever been military. Believe it or not Im actually glad! However its dawned on me that we cannot ever purchase a home since we will most likely never be able to put money down. We are destined to be renters forever.
Theres pros and cons to renting...however at this point in time I can only see the negatives. I just dont like the idea of paying someone elses mortgage or relying on them should something break. Im limited as to what I can do. Will they let me paint the walls? Will they mind if I garden? Can we have farm animals....etc? SO many limitations.
Pros I guess would be should something break its not on us...OF course thats if its even covered in the lease!
I am just really saddened by this. I mean there are options like Rent-to-Own but im sure they are limitations and drawbacks ya know? I need to except the fact that we will always be renters but its hard. I mean what if the landlords suddenly decide to sell...We have to move because of course we wont be able to buy it.
Pause for Break and research...
So I did some research and it turns out they are actually options since we would be considered first time home buyers. FHA for example requires little to no money down and you do not need a high credit score.
Talked to the husband and he still wants to rent for one year so we can find a home we both love. Which I get but still frustrating ya know? Anyhoo...We will rent but in the meantime I will contact mortgage companies and see what we need to do to raise our credit scores and save for a down payment. It will motivate us to save...LOL.
Heres to the future!
Look into the rural housing program. They actually do no money down as well.
ReplyDeleteThanks I hadnt heard about them but Ill look into them.
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