Been Pre-Approved for a Loan for House?
Hi we live in Houston,TX and we have been pre-approved for a $ 145,000 loan for a 4bdr 2 1/2 bath 2 car garage. Here is the house: http://search.har.com/engine/dispSearch.cfm?mlnum=8391655&backButton=Y
My husband is a veteran and is over 10% disabled so we qualify for no down payment. The interest rate is currently at 5.3% for the area,which is very good. But I dont believe that’s the fixed rate that’s just the adjustable rate. We would much rather go with a fixed rate which might be slightly higher but is locked in for 3 decades. Anyways, being that we have no down payment our loan officer estimated that our mortgage may be around 1200 -1300 which may be a little too much for us. We are looking to pay 1000 the most. Anything under that would be great as well. What do you recommend us doing next? Do we schedule a viewing of the house,get it appraised and possibly negotiate with the sellers to lower the price? The house has been on the market for awhile now.