Episode III: We can afford to live in Celebration

Episode III: We can afford to live in Celebration

At least, that is what the loan officer at our bank made it sound like today after asking, "Why?"

We were surprisingly on target for what we thought we could afford and how much we could get a loan for. 

              Here's the kicker: I am a traditionalist. My parents taught me sound financial principles that have thus far got me through college debt-free and the proud of owner of my fully paid off car (at 21). I know that a Conventional Loan is the best way to go because a 20% down payment avoids PMI.  BUT! We are low on time while the market is ~HOT~ like this and also low on making a 20% down payment--that alone would take another two years of steady saving just to get our foot in the door of any Celebration property....

             So! I ran the numbers for an FHA loan "just to see." I hoped that this would further affirm my solid standing in the conventional loan camp...it didn't. Not only did it not, but it rocked me entirely to see that it ends up being marginally more per month and we could get the down payment by the end of July. JU-LY! 

            After my happy dance out of the bank, I zombied my way through the rest of the work day til I could run to my parents and have my husband meet me when he got off of work to go over my findings. We are excited. More importantly, we firmly believe that now is the time to move. 

Properties we are dreaming of: 

• 162k for a 2/2 condo on Market Street above the Market Street Gallery
• 169k for the 2/2 above Thai Thani that has a 40 foot corner balcony (if its not under contract already)
• 155k 3/2 in Georgetown (spacious and first floor...but near the expressway so I don't know if that is a pro or a con)

See y'all at the Celebration Exotic Car Show this weekend! :)