3: The number of years we’ve rented together.
6: The number of years I’ve rented since graduating from college.
0: The amount of debt we have.
$60,000: The amount of debt we paid off (mostly student loans and car loans).
2: The number of years we’ve been saving for our house.
25%: The amount of down payment required to secure a lower mortgage interest rate at our local Credit Union.
3.875%: The Credit Union’s 30-year rate.
4.1%: Our bank’s rate.
$32: The amount per month we’ll save with the lower interest rate (approximately).
$11,000: The amount we’ll save over 30 years with the lower interest rate (approximately).
810: My husband’s credit score.
785: My credit score. Whomp, whomp. He wins.
~500: Homes I’ve looked at online since last August.
1: Homes we’ve seen in person that we’ve loved.
1: Homes we’ve seen in person that had a disco ball hanging from the ceiling.
1: FSBO open houses that we’ve attended where the homeowner followed us around the entire house.
5,000: Times I’ve ran the online mortgage calculator.
0: Number of roommates we’ll need to be able to pay our mortgage. I know a couple people in this situation and I always wonder why they think they were ready to even buy a house? I’m basing this on Kansas City prices – I know it’s pretty normal in other major cities.
Priceless: Knowing we’ve gotten all our freaking ducks in a row and we’re going to be able to buy an awesome house within our means and that we’ll never struggle to make payments or be house poor.
1: Number of pieces of advice I have to people planning to buy their first house – SAVE, SAVE, SAVE. And be patient. So, I guess that’s 4 pieces of advice. Just keep saving, guys. Keep renting. Get your finances in order. Be patient and live below your means – the final reward AND the peace of mind are totally worth it.
The house hunt continues, but we’re constantly going over the numbers, as you can see. It’s so liberating knowing that we’re FINALLY going to be able to purchase a house and still live well below our means.
Any other numbers you’re interested in? I can’t give away everything, but I may have missed something here.