Mortgage preapproval ? help!

[SandrA9810]

My aunt was able to get pre-approved for a conventional loand with 3.5% down. I guess it's based on your credit and what bank you go with.

 

[arihillfarm]

It depends on the bank on how much you have to put down for conventional. The bank my husband works for wanted 10%, but our other bank did conventional with only 5% down.

We also went conventional on our current house with 5% down and we bought it two years ago.

-Astrid

 

[yoopermom]

OP here, bad news. Went and saw it today, and it is black mold top to bottom. DH, a contractor, says its even into the wood foundation. Because of my severe allergies, the only way he'd even consider it is if we did a total gut and basically put a whole new house on it. Whoever did the appraisal should be ashamed of themselves, it's not safe to live in, in the condition it's in. We could offer what the land/garage/septic/well are worth, but just aren't sure we want the hassle.

Thanks for all the advice, though, it was really great!
Terri

 

[Uniquely Young]

Sorry it didn't work out. Best wishes on finding a new place. Hopefully, the place of your dreams!