For the last month or so, my fiance & I have been looking for houses. We currently live in the house he has owned for about 6 years. It’s nice but it’s not quite big enough to accommodate our growing family. We decided that our hope would be to be in a new home before our little baby’s arrival in November.
On The Hunt
Keeping our future in mind, we wanted to find a home that had 5 bedrooms. Ultimately, the home we found would be our forever home. At first, we wanted a home with a good amount of land for our kids to play on.
We had quite a few disappointing viewings of homes that simply weren’t what we wanted or were in a less-than-desirable area.
Then, we found a beautiful one. Although it was in a subdivision (which we had wanted to avoid), the house was perfect. We did a drive through of it and looked around the property. We didn’t get the chance to go inside. But we fell in love. We loved the area. It was very quite. The houses weren’t right on top of each other.
We talked it over. While we hadn’t wanted to live in a subdivision and we had wanted something with more space, we decided that this house would be perfect for us. It had everything else we needed plus the added bonus of being a new build.
We contact a real estate agent and got the ball rolling.
Touring Our Dream Home
Last Saturday, we met with our real estate agent and a property manager for the subdivision. We talked about the great benefits of the homes and we toured a few different models.
The home we had initially been looking at was already sold. In the subdivision, there were only 2 homes left. But, there was another model very similar that was not yet build but was available for pre-sale. We toured this model and fell in love.
Suddenly, I imagined our family in this home. I could picture turning the upstairs loft into a play area for our baby. I imagined setting up the dining room for our family to enjoy meals. I saw our kids walking on the sidewalk to meet up with their friends. It was perfect and we both fell in love.
Going Through The Logistics
We expressed our interest in pre-sale for the lot and our real estate agent set us up with someone to get us pre-qualified. We gave her a call and ran through our information, credit history, and all that jazz.
Later that day, our real estate agent came over to see our house and we talked about getting it sold. We had plans of going the following day to get ready with putting in an offer.
How We Were Feeling
My fiance & I were elated. We couldn’t believe how fast it was all happening! We were a bit nervous because the house wouldn’t be ready until October and our house was slated to sell very quickly. We would likely be out of a home for a few months. We talked about plans for what we would do. But overall, we couldn’t contain our excitement for this new adventure.
Here Comes The Heartbreak
It was around 7pm that night that we received a phone call from the agent pre-qualifying us. We weren’t going to be able to use my fiance on the loan. Allow me to explain the tragic reason why:
Prior to dating, my fiance was married to someone else for a period of about 3 years. She managed all the finances. He had no reason to believe there was anything amiss. He often would ask if they were doing okay with bills & money just to make sure and she assured him they were good. One day, he came home to find her sobbing on the couch, telling him she was leaving. Her things were already packed and gone. She left. It wasn’t until a few weeks later that notices began arriving to his house. To make a long story short: she racked up countless credit card debts in his name (which is apparently okay to do if you’re married) and was late on multiple house bills like the mortgage, electricity, water, etc. Not only that, she had completely wiped out their bank account.
Since then, he has gotten all but one credit card paid off and has never missed or made a late payment. (Prior to all this, he had excellent credit, he’s never even owned a credit card himself).
The only reason we cannot use his income on the loan is because of the late mortgage payments. He needs to have 2 years of on-time payments in order for that to all be “wiped clean,” so to speak.
For me, we could have gotten a loan based on my credit. The only issue with just me is my debt to income ratio. (That you, student loans). The only way we could get around that is to have a co-signer. I clearly don’t.
Where We Stand Now
We can chalk up how I felt to pregnancy hormones, but needless to say, I was devastated. I honestly couldn’t stop crying. It pains me that the careless, selfish acts of another person is what stands in our way of creating a new home for our family.
There is a silver lining:
- We were nervous about being without a home for so long, especially so close to the due date. Now, this will no longer be an issue.
- The subdivision we wanted is expanding so we are continuing to keep an eye out for new homes in the model we like to be built.
- We have more time to prepare. Our current home needs some work to get it sale-ready. We now had ample time to complete that.
For now, it’s time to focus on getting prepared for our little one. We will find a home one day. Everything happens for a reason.