No new house for us!

Well I found out today that we didn't get approved from the bank for the house. That sucked. A different mortgage company approved us, but they wanted 10% down instead of 3%, and wanted to charge 10.5% interest. Mike and I felt in our guts, that just wasn't a good deal, so we're passing on it. We're going to use the money we had for the down payment to work on our current house. I'm at peace with this. I figure it's God's will that we stay where we're at. After all, the Lord's Prayer says "God's will be done", not ours, right? Just wanted to let you all know the outcome. I know you were rooting for us.

Im sorry things didnt work out.  But like you said it just wasnt meant to happen that way.

Yeah that's not that great of a deal. The Mortgage industry sucks right now unfortunately. TO get a decent rate you need at LEAST 5% down... That sucks Linda sorry....

So sorry about the mortgage but how exciting about fixing up the current house!  I hope you get as excited about that venture as you were about the new house. Jacqui

Linda,

 I know you must be disappointed, but there is a reason you didn't get it- and God does know whats best! My daughter  7 SIl just sold their home & took a HUGE loss, between redoing everything (inc. stainless steel appliances!)& colsing costs they lost $thousands. The market really is bad right now. Just think of all the neat stuff you can do to your place, and not have a huge mort

Sorry to hear that Linda...but woooooohoooooooo how exciting to remodel!!!!!!  Just think of the great kitchen you can customize just for you....or how about a bathroom/sauna...like a spa!!!!!!!!  WOW I would love that!!!!!  swimming pool anyone???????  lol  Just trying to make u smile   I wanna see before and after pics!  Hang in there!

Linda, I'm sorry hon. I know how disappointed you must be. I am a firm believer though that when things don't go the way we want them to go, there's something even better in store down the road. You could bank your 3% and add to it every chance you get some OT and try again in 6 months or so. The market is to where more and more people are having their homes foreclosed on. In one way, it could make banks more leary to approve loans, but then again, they have these homes they foreclosed on that aren't making them any money. If it were me, I really would continue saving up to get a house in a location I wanted to be in. You just may find another home that was foreclosed on that your 3% now would be 10% of it's asking price. Sherri

So sorry you didn't get your house.  It may be for the best for you tho, because somewhere, just down the road, may be the house of your dreams, for less money, and in better shape.  You just have to find which corner to turn down first!  Put your downpayment in a high interest earning acct. and don't even touch it until you find your perfect abode.   God Bless. 

This is how i feel about not getting this house.  Even though you think it is the one you want MAYBE it isn't and that is the reason it didn't go through.  Just think there maybe another one around the corner that you will like better.  So don't fell bad there is a reason for everything.  Keep positive thoughts you never know what good may come.  Good luck on your housing ventures may you find what you are looking for on the next time.  Lisa