living a rollercoaster life

The good news: my HPAP application has been approved! I'm now officially eligible to receive a MESS of money towards a downpayment and closing costs. Additionally, they estimated the amount of house I can afford to buy, and it's more than I expected. It feels SO GOOD to have this taken care of - and to know that it's a major step that has been checked off the to-do list. I keep reading the approval letter just to make sure it is real.

taking control

Here is something I've learned about buying a home: unless you are very, very wealthy, you will need to rely on approximately 2387964827364 external influences to make it happen. I'm currently juggling my HPAP application, which left the hands of Housing Counseling Services (through whom I applied) and is now in the care of the Urban League. In addition, I've been wrangling my student loan consolidation process so my debt-to-income ratio reflects what I actually spend per month on student loans rather than what I'd owe if I was paying it all back, essentially, at once. Needless to say - it's exhausting.

the importance of a good mattress

When I first moved into my current place in October 2010, I was bordering on broke. I got my apartment as soon as I was hired at the job I still hold, and had been living on sofas and guest beds for about two months prior. Having come from graduate school preceded by a notoriously low-paying profession (hello, undergraduate admissions counseling!) I'd never been in the position to live alone - and when I realized I'd be able to do it now (now = October 2010) I jumped RIGHT ON BOARD. Of course, living alone in a major city doesn't come cheaply. Nor does a job search. So when my lease got signed and I settled in, the process of financing my comfort was a tedious balance of cheap and durable.

here is a list of things i recently learned

1. It is difficult to combine a HPAP second-trust loan with any first-trust loan that isn't FHA.
2. FHA loans won't cover the purchase of a co-op apartment.
3. Every condo I find in DC that fulfills all my needs turns out to be a co-op.

Le sigh.

UPDATE, 4:58pm: It turns out there might be a FHA loan that I could use for a co-op after all! I've put out feelers to a few mortgage brokers to learn more about the 203(n) loan and how it might apply to my sitch. More later.

disappointment and reassurance, all in the period of three hours

Last week I had a big moment, in which I toured my very first home. It was actually the outgrowth of a HUGE disappointment - the home I'd had a crush on for quite some time was taken off the market. That link, by the way, LIES LIES LIES when it tells you it's still available. The way I found out the home was no longer for sale was such: after completing my HPAP documentation, I couldn't wait five more minutes to see it, so I scheduled a time later that week with my realtor to tour the house. ONE HOUR before I was supposed to leave work to go see the home, my realtor emails me saying that she heard back from the seller's agent and it was going under contract that very day. I was incredibly, incredibly bummed.

más HPAP

So, today was my HPAP appointment - and I won't lie, I've been panicking for a while in preparation. But I went over my checklist a few times and confirmed with my colleague (the one who told me about HPAP in the first place) that I had everything. Then, I went to CVS and bought one of those lawyer-y portfolios - you know the kind, the brown cardboard expanding files with the elastic that surrounds it to keep all the documents together. I also bought dividers - yep, like in tenth grade. I was FREAKIN' ORGANIZED, folks. And I left work at 2:30 today for what my boss and I are calling "that thing," since I'm not quite public with this news. (At time of this post's publication, the only people who know about this whole ordeal are: my boyfriend, my mom, a few of my closest friends, and my boss.)

more great online resources

Are you a fan of Lifehacker already? If you aren't, you really should be. I check it a few times a week, and always come away with handy advice on how to improve my life. Mostly, however, I use it for tech-related things. Recently, while checking a few of my usual blogs, it occurred to me: Lifehacker probably had a lot of the same do-it-yourself and make-it-better suggestions as I was finding on all the new pieces! I quickly directed my browser that way, and realized I'd been MISSING OUT.