Um.. if you cannot afford to put down the earnest money, you can't afford to put down a downpayment, meaning you can't afford to really purchase this house..

Have you been listening to the news for, oh.. the last 12 months?  

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I've got spurs that jingle jangle jingle.
As I go riding merrily along.
And they sing, "Oh, ain't you glad you're single?"
And that song ain't so very far from wrong.

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Good luck! Our economy is going to Hell.

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But its a buyers market. Which means we can get a REAL good deal on a house. Not to mention we're leasing with the option to buy.

Which means we rent it, until the house is paid off, and then its ours.

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Wait.. so you just got approved to purchase a home. Now they want you to put up $3500 in earnest money and you're trying to get a loan for that..

Um.. if you cannot afford to put down the earnest money, you can't afford to put down a downpayment, meaning you can't afford to really purchase this house..  

Have you been listening to the news for, oh.. the last 12 months?

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Its a safety deposit. We can afford the 750$ a month for the rent. And the rent we pay goes toward buying the house.

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If you cannot afford to put down $4000, you are not financially secure enough to buy a house.

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We're renting it. Learn to read please.

I didn't rent to own, I went ahead and did the full blown purchase.  Did you consider that?  I did a 30 yr fixed.

And although it's a buyers market (sorta), I would definately, definately look at your lenders.  

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I've got spurs that jingle jangle jingle.
As I go riding merrily along.
And they sing, "Oh, ain't you glad you're single?"
And that song ain't so very far from wrong.

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Quote: from Glory at 11:36 am on Oct. 7, 2008

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If you cannot afford to put down $4000, you are not financially secure enough to buy a house.

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We're renting it. Learn to read please.

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I did read.  You said nothing about renting.  You said your credit just got approved by the realtor.  A realtor is someone who sells a house.  In case you didn't know.  Still even if you are renting, if you have to get a loan for the security deposit, you aren't financially secure enough to be doing it.

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"Put on your big girl panties, and get over it"

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Hm, okay. I know little about rent to own. I hope that works out for you, what are the terms?

I didn't rent to own, I went ahead and did the full blown purchase. Did you consider that? I did a 30 yr fixed.

And although it's a buyers market (sorta), I would definately, definately look at your lenders.

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Well we rent for two years. And whatever money we pay in rent goes toward the downpayment for the house. They want 110k for the house in total. And they want Average payments of 750. But when we can we're going to pay more, so that we have less to pay later.

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Quote: from ZOMGimrae at 8:37 am on Oct. 7, 2008

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Quote: from Glory at 11:36 am on Oct. 7, 2008

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If you cannot afford to put down $4000, you are not financially secure enough to buy a house.

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 We're renting it. Learn to read please.

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I did read. You said nothing about renting. You said your credit just got approved by the realtor. A realtor is someone who sells a house. In case you didn't know. Still even if you are renting, if you have to get a loan for the security deposit, you aren't financially secure enough to be doing it.

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I also mentioned later that its a Rent with option to buy home. Meaning we're RENTING.

If I were you, I wouldn't put your name on the lease, nor would I put it on the title until you are ABSOLUTELY sure this will work out.  That way, if push comes to shove, you don't owe a penny.  Sounds rather harsh, but that's what I'd do..

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I've got spurs that jingle jangle jingle.
As I go riding merrily along.
And they sing, "Oh, ain't you glad you're single?"
And that song ain't so very far from wrong.

---

Quote: from sakurag at 11:33 am on Oct. 7, 2008

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Wait.. so you just got approved to purchase a home.  Now they want you to put up $3500 in earnest money and you're trying to get a loan for that..  

 Um.. if you cannot afford to put down the earnest money, you can't afford to put down a downpayment, meaning you can't afford to really purchase this house..

 Have you been listening to the news for, oh.. the last 12 months?  

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Its a safety deposit. We can afford the 750$ a month for the rent. And the rent we pay goes toward buying the house.

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What about money towards paying off the loan? Money towards bills, food, and normal everyday shit.

That $750 will quickly reach to about $1,000+.

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- Eat me!
- You're beautiful, Carolyn.

MEANING, that there was nothing about renting when I started typing.  Either way, if you have to get a loan, you aren't financially secure enough to rent either.

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"Put on your big girl panties, and get over it"