Homeowners who used their wedding gifts as a down payment...

halloweenbride04 Posted: Aug 19, 2004 03:16 PM

Homeowners who used their wedding gifts as a down payment...

FH and I are planning on using the wedding gifts we receive as a chuck of our down payment. If you did the same, did you start looking before the wedding? Did you get pre-qualified or do anything before? If so, how long before?

We are about 2 months away from our wedding and getting majorly antsy to start looking.

TIA

littlecat Posted: Aug 19, 2004 03:21 PM

Re: Homeowners who used their wedding gifts as a down payment...

We started looking just after the wedding. You can get prequalified now. It doesn't make a difference.

julz33 Posted: Aug 19, 2004 03:47 PM

Re: Homeowners who used their wedding gifts as a down payment...

Be careful! Some people don't get as much money as they are expecting
Do you have any money now? I believe you can put like $10k down at contract and the rest at closing... and if you found a house now closing can possibly be after your wedding, so you can start looking now

nov04LIbride Posted: Aug 19, 2004 04:03 PM

Re: Homeowners who used their wedding gifts as a down payment...

What happened with the condo Jeannie?

janwinterbridejoy Posted: Aug 19, 2004 06:23 PM

Re: Homeowners who used their wedding gifts as a down payment...

we used some of the money we received from the wedding as a down payment and kept some to use to fix the place up

butterfly20 Posted: Aug 19, 2004 09:49 PM

Re: Homeowners who used their wedding gifts as a down payment...

i wouldnt count on it.....you can always use it to put extra money down.....

halloweenbride04 Posted: Aug 20, 2004 10:46 AM

Re: Homeowners who used their wedding gifts as a down payment...

Posted by nov04LIbride

What happened with the condo Jeannie?

Ahhh yes, the townhouse. We backed out because they wanted a full down payment at contract. This was troublesome, A. because like my post says, we're counting on wedding gifts to supplement the down payment and B. they couldn't tell us when they were going to start building. It just didn't feel right to us. I'm glad we did because I believe it is still just piles of dirt over there.

Everything happens for a reason, but we're anxious to start looking.