So this "buying a condo" thing is costing me some serious cash before I even put an offer on the thing. I paid $350 to lock in a (FIXED) mortgage rate of 6.409% (max it can be at closing). This "lock" is selective because if the rates go down, I can get the lower rate. I'm thinking rates will go down, but I'm no market analyst and don't want to take the chance. And I'm certainly not taking the chance on any variable rate.
I also talked to my "realtor" -- I technically have not hired him because I haven't sign a contract yet -- and he said that earnest money is typically $1,000. I considered typing that as "$1K," but the zeros have a definite impact. I don't know if I can come up with that. I worked on my budget after I talked to Dad last night, and I think I can scrounge up like $900 with subbing, etc, and then maybe borrow the extra $100 from my mom... and still be okay for June. However, I am getting a student loan for this summer, so maybe there'll be $100 in there I can move to the earnest money fund... If something goes wrong that's not my fault, I can get the money back, but then I'll be looking for a place to live come June 30th... I have a feeling my 26th birthday is going to suck!
The other crisis of purchasing a home is, of course, the down payment. My dad, good man that he is, offered to loan me a 10% down payment ... however, I might call my mortgage guy and ask how much it would suck if my earnest money
was my down payment or if that's at all possible. I already owe my dad some money, and I would rather not double it.
Some stuff that I still have to get to the mortgage dude is a statement/document from Sallie Mae telling them how much my monthly payments will be, approximately. I place to consolidate all the individual private loans I've taken through them as well as the federal loans, so I'll actually have TWO checks to send Sallie Mae and ONE check to send ACS (SIUe federal loans). It's going to be a mess when I have to start paying these people back, let me tell you, so I'm going to arrange something with Sallie Mae so I can pay the big loans back on a GRADUAL scale.
I'll be checking out the place again next Friday because I'm going to the HS to go over materials with the current teacher. I'm glad I'll get to talk with her again because I'd like to know where the FR1, Fr2, and Fr3 students are as far as ability level. I know I should set the expectations high, and I will, but I want to know what their expectations are right now, I guess.
**ALSO** I got some excellent news last Tuesday! I got an A- and, therefore, don't have to revise my Unit Plan project! This means I can slow down and revise my paper for my other class. However, I DO have to reprint the unit (75 pages) and make TEN copies of it for my colleagues in this class. Whine :-( Bye bye, money. It was nice seeing you in my bank account before giving you away.