Originally Posted by
Kirin
So wife and I are finally making progress on buying a house. We're done with paying rent and absolutely could use the space.
Both of us have high credit scores (780+), no debt, no car payments, stable employment, and enough stashed away for a 20% down payment on a loan up to 300k. Looking at the 250-300k range around east/northeast Atlanta outside the perimeter so as to not break the bank on the down payment and to avoid paying the "ITP Tax". Likely focusing our search in the Tucker area just in case anyone is familiar with it.
We have a contact at Quicken Loans through our financial adviser, but are kind of lost as to what to look for and how to proceed.
Our credit is frozen after the Equifax fiasco, but both of us have pulled reports for the year and are looking into how to unfreeze the credit for the pre-qualification process.
After we unfreeze our credit and get pre-qualification going, would the next step be to meet with a realtor? We are starting to see houses on Zillow that we would like to view, which is what is now pushing us to get moving.
Additional Thoughts:
How quickly can this offer process occur if/when we put an offer in?
Our apartment lease is through June. Any tips to breaking lease early without paying a penalty?
Is it beneficial to shop loan providers in that 14 day window without applications checking our credit again?
If we were to pay 15% down and take the hit on the tax, how big of a deal is that?
I feel like this process is a little daunting, so anything else people can offer for advice is appreciated.