Loan Amount Approval
My brother called earlier to tell me he was preapproved for a home loan of $141K. (I know that loan officers say preapproved and pre-something that I can’t remember – my brother may have said the other.) We talked for a bit about finding a good realtor and what size of house they were interested in. He said the person he is dealing with at the bank has mailed the paperwork to show him everything and he sounded excited.
I’m so proud of him for taking the step of becoming a home owner. He has a large family and they are living in an apt that is too small. They don’t have hardly any debt – a car payment and a tv that he bought on credit. His thinking of buying the tv was just like so many others – he didn’t have any credit thus he needed to buy something in order to get some. He is using his tax refund to pay off two large’ish bills and always saves the rest. He’s certainly grown up a lot – which for some reason is always surprising to me. LOL
I look forward to searching for real estate with them! Buying two houses certainly affords me quite a bit of knowledge and I am happy that he called to tell me his news of simply being approved. I know he is proud of that.
And add to the additional good news of him becoming manager of the store he works at! He was put on salary and will be making a bit more then he made last year – last year when he worked A LOT of overtime. I’m not exactly sure what this means for his hours now, but he sounded good in talking about it. Oh and add to the fact that he and his family are living on one income!