Posts Tagged ‘loan’

What got us here

My husband and I moved to this town of about 40,000 people not quite two months ago. We knew that with the academic jobs we took here, we’d be staying at least a few years, and had been dying to buy our first home for quite a while.

Our realtors took us to about 40 houses. The one that we now have under contract is a 1910 colonial revival. It was listed as a Victorian, but it’s really more of an Edwardian foursquare… basically, it’s a solid little cube of a house with an addition in the back (Consisting of kitchen below and two bedrooms above) that isn’t as old as the house but is still pre-1950, with hardwoods, etc. The house was beautiful, with everything we always said we wanted, but was way above our pricepoint.

But when the owner heard that two teachers from the university he loved so much were looking at it, he said to bring him an offer. We brought him a very low one that was the most we could convince some bank to lend us. His counter offer changed our lives: owner financing at 5% fixed interest, and the price adjusted over halfway toward our lowball offer. We kicked it around for two days — called our parents on two continents, and, finally, accepted. The house is now under contract.

This blog is the story of how it treats us.

We hardly know her yet.

Tomorrow is the home inspection.


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