Happy day! We officially closed on our very first home on February 24, 2025, and we couldn’t be more excited!
Our home buying journey
The process of buying a home was honestly more complicated than we expected, and we were incredibly fortunate to have a realtor who guided us through it all.
Where It All Started
We first started looking for a home in late 2024, but we kept running into a major issue—the PITI (Principal, Interest, Taxes, and Insurance) was always too high. We were looking for a PITI no higher than $2,000 to stay within a comfortable and affordable range.
Unfortunately, at that time, every home that met our basic criteria (at least 3 bedrooms, 2 bathrooms, a garage, and a decent backyard) had a monthly payment of $3,500 or more—way out of budget. It was frustrating, but we decided to wait another year rather than overextend ourselves financially.
A New Opportunity in 2025
Fast forward to January 2025, and we got a call from our realtor about a potentially great deal. The plan? We would assume the seller's loan, bringing the PITI to around $1,700—well within our budget!
After touring the house, we were all in. But then… complications started rolling in.
The seller had a VA loan, which we didn’t qualify to assume since neither of us is a veteran.
We discussed a rent-to-own option, but we really wanted to own, not rent.
Ultimately, we decided to move forward with an FHA loan and officially went under contract on February 4th, with a scheduled closing date of February 21st.
The Hiccups Along the Way
Once we committed to the FHA route, the paperwork marathon began! We had to provide bank statements, retirement account statements, paystubs, personal and employment history, etc.
Then, a curveball: I wouldn’t be on the loan because substitute teaching isn’t considered “consistent” income. That meant our qualifying income was lower than expected, impacting our loan. Thankfully, our amazing realtor worked tirelessly with underwriting to keep everything on track.
Our biggest delay? A misdated document from my partner’s retirement company triggered a fraud flag in our application. It took a few extra days to sort it out, but let me tell you—one wrong number can make a huge difference!
We Did It!
Despite the challenges, we officially closed on February 24th and are now proud homeowners! This journey has been a rollercoaster, but we’re so grateful for how it all worked out.
I can’t wait to share more about our experience as young homeowners and all the lessons we’re learning along the way. Stay tuned for more posts on buying a home, homeownership tips, and navigating life in our new space!
Check out my other posts for more insights on home buying!
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