Talked to a mortgage lender Thursday afternoon...

[Joe Biden 2020]

To get an idea of all my housing options for late 2009 and early 2010, I decided to get in touch with a Century 21 realtor here in Eastern Oklahoma County who put me in touch with a lender in Midwest City.  I went to see her Thursday afternoon at 4:00 and found out some news.  I was pre-qualified for a $90,000 FHA loan, which there are plenty of homes for less than $90K in this part of the state.  However, the payments would be nearly $700 a month plus all other utilities and such as that.  So, I'm still exploring my options.  Of course, I'm not in any shape to do anything until November or December 2009, at least.  My apartment lease expires January 31, 2010, and I still have the option of moving to Kansas in the Spring of 2010.  The lender said my credit scores were really high for a man just two years out of college (~750 for all three bureaus).  Another possible option is to rent a house here in the OKC Metro next February and then either do it on a rent-to-buy agreement or just a rent.  And, of course, the other option is just to renew my current lease for another 13 months through February 28, 2011.  Its nice to know that I will have several options on the table and that I have at least 6 months to decide what I want to do.

[Joe Biden 2020]

why do you tell us these things, down to the minute details?

(seriously, I'm just asking.  not trying to be a dick)

I don't know.  I'm just a detail-oriented person, even in conversation.

[Joe Biden 2020]

why do you tell us these things, down to the minute details?

(seriously, I'm just asking.  not trying to be a dick)

I think he has undiagnosed OCD.

Actually, it is not undiagnosed.  I do have OCD.  It comes along with my Tourette's, and ADHD.

[Joe Biden 2020]

Basically, I'd go month to month on a rental (you can probably find this in the current climate) and see where the market goes. If we level off I'd snatch up a home, if we continue to spiral downward I'd just keep renting.

I used to live in Edmond, what area in OKC are you looking at?

If possible, I'd really go out of my way to find a heavily discounted cookie-cutter suburban development, perhaps a development that's not even been completed. This allows you to buy a nice, new home at firesale prices, knowing it will one day be surrounded by nice homes. I'm pretty sure the OKC market has 90k homes that fit that bill.

Just make sure you research the developer, call the area's state rep and inquire if they've had any complaints, and contact the BBB and any HOA types.

I'm looking at the eastern side (Midwest City/Choctaw area).

[Joe Biden 2020]

I'll probably try to make my decision of what I'm going to do by September 1 (5 months from now) and then, if I decide to buy a home, I'll probably start looking October 1 and hopefully close on a home by December 1 and be completely moved in by January 1.

[Joe Biden 2020]

Geeze.. you are detail oriented.  Do you want to be my personal organizer?

Haha, LOL!  I've always been like that.  Those are arbitrary dates, but I will try to go along with that timeline.  Especially, since I can't do anything earlier (my lease doesn't run out until January 31 and the $8,000 tax credit expires December 1, so I'm really tied down to that timeline.  I probably should try to close by mid-November, but I put December 1 just to give me a little cushion.

[Joe Biden 2020]

I've just started receiving price listings on homes in the Midwest City/Choctaw, OK area.  Again, I can't buy for at least 7 months, but I'm going to get an idea of what I'm looking at in terms of prices on a home.  I'll be in a better position when and if I actually start taking tours and start looking to close on a home, which if I do will be in late October/November time frame.