So we put a contract on the house. After much talking with my husband. We are trying to figure out if we can afford 10% down..well, we can- we have the cash for it up to a certain point. We have bid lower but still a competitive price knowing they will probably counter….we have maximum upper limit obviously. If they accept closer to the lower end we have enough in savings to cover the down payment and closing costs (WTF is up with the the surprise of closing costs?!??!), and still have enough cash to BARELY cover one IVF cycle and kingman’s MESA.
We have enough cash to pay a 10% with the higher limit…but there wouldn’t be any cash for the MESA, IVF. We would have to finance it and wait for January for our FSA to recharge.
SOOOOO, we are thinking of trying to get the 5% down and no PMI b/c some of the banks around here have professional rate that we qualified for in February when we thought we were going to get a house.
We have run all the number and the difference is about 200 to 400 dollars depending on if it is the higher or lower rate. uh, HELLO!?!??! Hopefully we can do the 5% down, and professional rate with no PMI. I would always like to have the cash in the saving account..and have cash left after the IVF/ICSI/MESA.
I don’t want to start off with my pregnancy with no money in my savings account after saving 1/3 of each paycheck for 2 years. That will stress me out.
I grew up getting evicted from houses, getting power turned off, living without phones (MAJOR LUXURY), eating food out of the dented can bin, wearing shoes after the soles had holes. I am now frugal and a money miser b/c I never ever want to be in that place again. I know I won’t b/c my husband works hard, and I have my nursing degree and have even owned a home on my own in the past.
But there is nothing like cold hard cash…in a savings account. To buy a new engine if you need one. (we have been stranded with a blown engine waiting 7 hours for my father to come get us. No money for food and bored out of our minds) I don’t know how my mother didn’t go crazy honestly. I think I would have been in prision for murdering my spouse if I was her- it was not a good situation. I thank God for her patience and getting out of that situation when she could. I thank God that all four of us siblings made it out sane and productive members of society.
That is why my mom is my hero. She got out of it, and got us kids out of it. I also thank my older brother who started working full time at 17 to pay the bills b/c my father didn’t. I am lucky. I am thankful…but I never forget where I came from- and in this economy can return to.
So, that is my post.
Say some prayers for us…and now you know a little more about me and obsessive money hoarding. 🙂