So we did get our pre-approval yesterday and man, was it nerve racking. I went down there and found out my credit score has dropped 40 points, but I and the loan lady couldn't figure out why. Hubby's rose almost 50 points. So... with my credit so sucky, we can't get the kind of loan we wanted. My bank said we can do an in house loan. The interest rate would be locked in at 4.375% for 5 years. After that 5 years we can refinance or it will default into a one year adjustable rate. Not a big deal. The rate cannot go higher (or lower) than 2% of the original. With an in house loan we wouldn't need to have the private mortgage insurance which would save us money by not having it.
After I got all that said and done, I called our realtor. She said that she's been in contact with the realtor that's selling the house and the bank is wanting to foreclose on it. If they do decide to go forward with that, the house wouldn't be available for about 2 more years. But.... and here's the good part... if we get our offer in before the bank has made a final decision, we are more likely to get it. Today I'll be waiting for that phone call from our realtor. I'm so excited and nervous. This is such a big deal to me... to us. We've been needing a bigger place for a while now.
On a side note.... there's a giant moth in my car that attacks me when I drive, but I can't catch it. I'm just waiting for the day that it gets stuck in my hair or something. It was flying at my face today while driving to work, but it was so dark in my car I couldn't see it. I only see the thing when I'm driving while its attacking me and I can't catch it. I can never find it when I'm not driving. The first few times it flew into me it scared me so much, but now its just annoying.