Wow, I can't beleive we bought a new house, well not a 'New' house, but a house that will one day be ours. Goodbye reasonable rent, hellow excessive mortgage! I thought it would be good for us to start something that reflects our feelings on this whole proces of becomming homeowners and something that other people from our old hometown of Los Angeles might be able to access and check up on every so often. We placed in an offer on this house that we found outside of teh beltway in Maryland. The process was relatively quick; I must admit that I didn't think it thru all the way before we finished writing the offer. The next day we had heard back from the howmeowner, April. She didin't like our first offer so she came back with something different and two days later we had settled on a closing date; August 3rd, more than 60 days after placing our offer. We've got more than two months from the time we placed our initial offer and the time that we close and move in. Those sixty days can be hellish thininking about everything that happened in the first 48 hours of this process. Did we offer too high? What have we gotten ourselves into? When we applied for our loan, our loan officer showed us the breakdown of the interest over the course of the loan, and our payment which really distorted things. Over the course of 30 years we could, or anyone with a mortgage rate of 6.125% afford to buy almost two houses. Wow! That is crazy, but it feels good to know that we toghther and our dog Juno will be able to call something ours. This is something that we've waited, hoped and saved for and now we will be purchasing our fist house. What follows is a conglomeration of feelings and hopes of ours between now and the time we gett settled in 306 Dennis, Silver Spring, MD 20910.
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