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Positive Thinking and Home Decor Budget


Today I got an email from my attorney enquiring if I had secured a mortgage commitment as yet. Sadly, I had to respond, no. 


It is a reasonably question to ask when you consider that I made an offer on the home on May 3rd 2013 and we went into contract at the end of May.  Everything else from here on in should have gone smoothly.  I thought wrong. Having never purchased a home before I didn't understand the process. I assumed that because I had a 10% down payment and good credit that would be enough. I even completed a first time home buyers class, at HSBC’s request, at a community organization and received a certificate of completion.  This class cost me a nonrefundable fee of $75. The community organization wasn't all bad and I don’t want to give the impression that they did not assist. They helped me to apply for a down payment assistant grant. I am truly grateful for that. 
Still, here I am six weeks later without a mortgage commitment from HSBC and waiting anxiously to move forward on the property.  I’m learning quickly that I've made some mistakes in this process. I did not shop around for a mortgage. Instead, in my haste, I relied on HSBC because we had history together. I was involved in their First Home Club program, where they would match my monthly savings of $188 and put that money toward my closing costs.  The idea of free money was tantalizing. One advice I would give to other first time home buyers is to definitely compare various lenders before committing to one.

One of the ways that I have been keeping myself busy throughout this troubling time is through positive thinking. I have not allowed myself to believe that my mortgage application will be denied. I have been making a list of things I would like to do around the home. In a previous post, I mention that I have a very tight budget of $3500 to decorate the entire home with the exception of the kitchen ( that would be a full renovation job). Here is a list of things that I would like to have accomplished (notice the very original and catchy title, lol)
                                                      Marissa’s Home D├ęcor Budget
Entry Hallway
Estimated Spending
Actual Spending
1.     Paint
2.     Mirror
3.    Picture Frames

Bathroom
1.     Paint (white gloss)
2.     Shower curtain
3.    Toilet seat (blue)
4.    Storage
5.    Bath rugs
6.    Bath mat
Bedroom #1
1.     Paint
2.     Area Rug
3.    Upholstered Headboard
4.    Mirror
5.    Dresser
6.    End Tables (2)
7.    Curtains
Living /Dining Room
1.     Sofa
2.     Dining table and chairs
3.    Area Rug
4.    Buffet/ Console table
5.    Picture Frames
6.    TV stand
7.    TV (46 inches???)
8.    Bookcase
9.    End tables
10.  Chair
11.  Ottoman
Bedroom # 2
1.     Full bed
2.     Computer desk
3.    Slipper chair
4.    Paint
5.    Area Rug
Patio
1.     Chairs
2.     Rug
3.    Flower boxes
Kitchen
1.     Silver paint
Total
$3500

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