This whole mortgage experience has been very stressful for me. In general I’m pretty financially stable. I save a little every month. I don’t have any credit card debt. I own my car outright. I pay my student loans on time. But when I had to fill out a form actually listing my assets (very few) and my liabilities (very many), I really felt horrible. Damn those Ivy League degrees! I’ll be paying for the rest of my life! And now I’m planning to add a mortgage to that? What the hell am I thinking!
Also, a few years ago I went through this whole ordeal with Brigham and Women’s Hospital in Boston where I discovered that I owed them like $400 in $35 copayments from appointments I’d had in 1997. I eventually paid, but not until after four years and many angry letters were exchanged.
All this is by way of saying that I was holding my breath as I paid my $14.95 to Equifax to get a credit report to set my mind at ease. And…it’s fine. No problems. My FICO score qualifies as “good.” Lenders are “unlikely to deny” me a loan.
Meanwhile, mortgage searching has forced Sandy and me to talk openly about our finances for the first time. It just doesn’t come up – at least not politely – in other contexts. (“Hey baby, why don’t you pay for dinner—I’ve got $25,000 in student loan debt.”)
We’ve settled on a mortgage type and a lender named Ed. Now, we wait.