On Tuesday of this week, Greta e-mailed me the pre-qualification figures. I guess I shouldn’t have been too worried, because we qualified for 60-100k over what we were looking to spend. She did mock-ups for three projected scenarios, so we can get an idea of what our monthly payments would look like.

Now that we don’t need to worry about qualifying, I am concerned about being able to afford whatever loan we get. While we qualify at a decent amount, I don’t think we could live comfortably with some of the more expensive scenarios she provided. In fact, all three scenarios were ran using purchase prices above what we were looking to spend. I will be calling her back this week to see if we can get a scenario with a lower purchase price. We also have a solid figure for what our down payment will be, so I can ask that be included in the new scenario as well.

Now that we know what we qualify for, we can start looking for a home with a little more purpose. We have been casually browsing the market, but until this point…did not have any solid figures. I will be trying to contact Valerie (the friend of the family who referred us to Greta), to start shopping for a home. As I mentioned before, she has allot of experience in the industry…and has been a close friend of the family for a long time. I’m sure any help or advice she can provide will be very valuable.