Skip to main content

Surviving Mortgage Underwriters and Small Budgets

Buying a home been has frustrating process and one I hope never to repeat again. Today, I heard from my mortgage company that the underwriter doesn't want to move forward on the mortgage unless they receive a letter stating the amount of monthly payments on my student loan. Frustrating. I had to contact Sallie Mae again for yet another confirmation letter.

Sometimes, I feel like a headless chicken with all the running around that I have had to do. Last week the mortgage underwriter wanted to know why there was a discrepancy between my annual income for 2011 and 2012 and my projected income for 2013. And by discrepancy, I mean a difference of about $12 on my monthly income. I had to write a letter explaining that I was due a “cost of living” increase at my job.  I’m trying hard to remain patient. I just want to get to closing.

In other news, I’ve been thinking a lot about what I want this blog to be about. I’m not a particularly crafty person and I can’t teach you how to reupholster a chair. I like to buy my furniture readymade. About the only creative thing that I can do is paint.  So after watching an episode of The High Low Project, I think I’ve got a solution.  For those who haven’t seen the show before, Sabrina Soto designs a room in a client’s home with all the bells and whistles of their fantasy space (the high). If the client likes the look, she recreates it with less money(the low) to prove that you don’t need a large budget to decorate a room.
Unlike some of the clients on the show, who can spend $4000-$5000 on one room, I have a more modest budget. My budget for the entire coop is $3500. Included in this small budget is the furniture, paint, and accessories (stencil, curtains, mirrors, rugs, candles, etc) in my new home. That is $3500 total for the two bedrooms, dining room, living room and bathroom. I’m not including the kitchen because as I've mentioned before, it’s a huge renovation job that I’m estimating to cost a pretty penny. Really $3500? Yes and not a penny more. Can I do it? I guess you'll just have to wait and see.
In the video below Sabrina Soto talks about decorating on a budget.

Popular posts from this blog

Welcome to My Blog!

Hello, my name is Marissa. I’m new to blogging. I don’t have a degree in design and I’m not a professional decorator. I just love decorating.
I love home improvement and design shows. I love HGTV and 
My favorite shows are House Hunters, The High Low Project, The Property Brothers, Love It or List It and Property Virgins.
I’m also in the process of buying my first home, a cooperative apartment in Brooklyn, NY. Buying a home is a giant step but it’s also an expensive one too.
I have big plans for my first home. However I'm now realizing that most of the work I planned for the home, I can't afford.
I have been looking for a home for several years, but seriously looking for about a year. Most of my friends live in Brooklyn. I live and work in Brooklyn so it only made sense for me to stay here. But Brooklyn real estate is not cheap.
My Coop wish lists were: a two bedroom apartment, with lots of closet space, natural light and windows in the kitchen and bathroom. I…

Debt Free Journey

In the last few months,   I started 2 new jobs and bought a car. But let me start at the beginning.  In 2016, I made a resolution, along with the usual lose weight promises of years past, this year I had a plan of focusing on my financial future. Managing my debt. I asked myself what goals I wanted to accomplish in 2016 and developed a plan of how to accomplished those goals. I made a vision board and then I drew my own mind map. I was watching motivation videos on YouTube and TED talks. I would watch Suze Orman and Dave Ramsey and be inspired. I was on a goal of financial self-improvement.
I made it a goal to find a higher paying job with my company. I mastered the “tell me about yourself” question and practiced my response in the mirror. I was confident. And after multiply revisions to my resume, careful crafted cover letters and multiple interviews, my hard work paid off. I got a job. Yeah me! Three years after graduate school, I finally got a job in my field.  With new job came …

Budgeting and the New York Lifestyle

The other day I met up with my good friend, Tracey, for lunch. These days we always seem to talk more about our careers and financial matters.  Tracey and I are in the same career field but have different kinds of responsibility. My job, for a large government agency, requires me to spend long hours on my feet and travel to many locations. Glamorous it’s not but it allows me a lot of autonomy. Tracey works on a yearly contract for a University in Manhattan. I live in Brooklyn with a roommate. Tracey lives in Manhattan with a roommate.
Tracey complained about her lack of autonomy and job security.  Tracey, like many people, feels that she is underpaid for the life style that she wants to live. I mentioned several times in this blog how totally uncool I am. I don’t hang out in trendy coffee shops and don’t spend long hours queuing to get into the hottest new restaurants. I don’t have a gym membership. Instead I take great pleasure in finding free and inexpensive things to do around the …