After finding out I was the winner so to speak of the house I found out the bank wanted $3,000 EMD rather than the normal $1,000 and since I really liked this house I willingly gave it up. My mortgage broker was worried we may be in for a long hall and frustrating ride because of the power network behind the house. She thought maybe the insurance company would not cover me. Fortunitaly there were no problems there.
Upon acceptance of the offer my realtor felt we needed more time to get my mortgage underwritten because it had been taking 30 days or more. We wrote an addendum to the bank asking for an extension because it ate up 1.5 weeks just trying to hear back if I got the house. Closing was scheduled for Oct. 9th.
A few weeks into the process my mortgage broker suggested I sign up for a class through Lighthouse Community Development. They had a new program for first time home buyers, they were helping with down payments giving $5,000 to those who qualified and had $1667 of their own money to put down on the house. As it were I qualified and had the money, only catch was you need to attend 3 money saving/budgeting classes and a one on one budget session. And so I embarked on my home-buying journey.
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