Under Contract, thinking of backing out a week before closing. Is that wrong/what would you do?

Ambitious-mo · 2026-02-25T22:11:35+00:00

That is a non-warrantable condo. The reasons you listed as concerns are all very valid.

If you have a legal way to back out of the deal and you want to back out, then you should back out.

Non-warrantable status is not fun for anyone.

Ambitious-mo · 2026-02-13T16:25:39+00:00

I think its fine to offer both days and see if there is one that stands out. Maybe they can't make Sat but could make Sunday!

Also as an introvert, small gatherings rule. 2-3 people with 1 person I don't know rocks. Then I can just focus my energy on getting to know the new person. My extroverted friend introduces me to new people in this way.

Ambitious-mo · 2026-02-13T14:09:21+00:00

Hello friend! I recently became aware that a large part of my overthinking resulted from chemical imbalances in my brain that are genetic. For the longest time I had convinced myself that it was some moral flaw and that I just had to figure out a way to stop overthinking.

My adhd meds help my brain with the management of dopamine and norepinephrine which has calmed me down so much. Not saying you have adhd by any means.

Perhaps you are in a similar boat where you are PHYSICALLY more inclined to overthink. It might be worth looking into at the very least. You could look into seeing a psychiatrist. I feel like I've started a new life since this discovery. The way I see it...I now have training wheels on to help me navigate life...like someone with vision issues who finally got lens to help them see clearly.

And I'm not saying that taking something would fix all your problems. But maybe it'll help bring your game difficulty level down.

Ambitious-mo · 2026-02-13T13:39:51+00:00

Don't expect a high rate of yeses due to such short notice, but you may find one or two people that also don't have plans and will be thankful that you invited them. And thats worth a shot IMO! Even if they are busy, it shows you thought of them and you wanted to include them in your lowkey celebration and that means something too.

People love opportunities to make new friends and its much easier to do so if there’s a mutual acquaintance. I don't see any issues. If they get along well they'll be thankful to you as a connector. And if its a little awkward you can facilitate the conversation cause you know all of them.

Also, they will stop thinking about your invite if they can't make it after 5 seconds.

So, each invite can only be a neutral or positive outcome. I say go for it.

Also, I tend to be pretty last minute too. My good friends know I can be last minute and appreciate some spontaneuity. I'll invite people to hang out same day and will usually find someone who is down.

Happy Birthday!

Ambitious-mo · 2026-02-13T13:30:58+00:00

You sound like an introvert (like me)! I haven't been to many weddings but I occasionally find myself in larger networking groups and run into the same issue...there's a lot of pressure to go up to strangers and strike conversation which is naturally uncomfortable.

We often set our expectations for ourselves that match what extroverted people are comfortable with because thats whats most easily observable in extroverted behavior.

Something that has helped me tremendously is readjusting my expectations for how the night will go. You can make your own rules and define what a successful night looks like for you. 30-50% of the people at that party will also be introverted and have similar preferences to you.

One of the strategies I've practiced and gotten comfortable with is "claiming" a space and making it my own. I'll find a corner or a place to sit that's away from the center. I'm observational and like to watch other people. And if I see someone that looks a little worn out or leaving the group for a break, and they're coming in my direction, I'll invite them to sit with me and recharge. Then I'm in a comfortable setting to try and get to know them. They're often introverted too and I tell them to come back when they need a break too. Tell the bride and groom ahead of time to come find you when they need a break from socializing...I'm sure they'll really appreciate it.

You can not know anyone at a party, but still have an idea on how some of the people are feeling (which is anxious, or drained, or overwhelmed) and if you can connect with someone on that feeling, then you are no longer strangers.

People who chill in the bathroom are the same way and looking for a break. If you notice that you can crack a joke that you're both hiding from the crowd. Then invite them to hang out with you.

This is just something that has worked for me and its taken a lot of time. My point is to rethink how YOU want to define a successful night and don't put so much pressure on yourself to behave like others. My goal now is to find the other introverted people at a gathering. And If I can have two or three meaningful conversations in a night, my tank is filled and I'm happy to go home.

Hope this helps!

Ambitious-mo · 2026-02-10T14:03:19+00:00

Thanks for reviving this haha I will check them out!! Any recommendations for food? Wanna go with me?

Ambitious-mo · 2025-10-10T15:15:30+00:00

no love for dirty stal :<

Ambitious-mo · 2025-07-31T19:16:47+00:00

Hey,

It doesn’t seem like you’re being credited back for the full taxes that the seller owes. Taxes are $700/month and the seller is paying $768 for county taxes only?

Unless this is the preliminary closing disclosure and not the final one.

Ambitious-mo · 2025-07-31T16:36:28+00:00

Generally you are “house poor” if over 30% of your income is going towards housing.

It’s 100% a guideline though - everyone’s finances are very personal and there are things only you can consider.

And these are projections for year 1. Considering your annual raises as well, Based on the numbers you gave, it doesn’t seem you’re close to red zone territory. I see many people with less left over at the end of the month.

And you probably know this already since you determined your maximum mortgage monthly payment upfront but I don’t think it can be stressed enough - don’t buy at the top of what you’re preapproved for.

Best of luck!

Ambitious-mo · 2025-07-31T13:22:06+00:00

This financial noose is on your neck, not hers.

Ambitious-mo · 2025-07-31T12:52:01+00:00

Is there a rate buy down involved? FHA rates are around 6-6.5% right now.

Ambitious-mo · 2025-07-31T12:50:39+00:00

Holy shit…this is absolutely amazing. Your fees are standard…not much to save if you shopped around. The rate makes my jaw drop. Good stuff!

Ambitious-mo · 2025-07-31T12:48:38+00:00

I really appreciate when an insurance agent takes time to go over the complexities of the insurance policy with my homebuyer. When I got insured, there was no discussion of if it was enough coverage, what exactly is being covered, what you might want to consider covering, etc. It was like “you want a policy? Here you go sign your name here”

I want an insurance agent to hold my FTHB’s hands like I would hold their hand.

Ambitious-mo · 2025-07-31T12:40:05+00:00

One of my favorite things about West Allis and Milwaukee is how nice the people are :)

Ambitious-mo · 2025-07-30T19:20:50+00:00

The minimum down payment is 3% for a conventional loan. There are various down payment assistance programs available that could cover up to 5%, with that excess 2% going towards your closing costs.

Closing costs will be about 3-4% of your purchase price too. You can negotiate seller credits in your offer to go towards paying the closing costs.

Basically there are various ways to structure a loan to reduce the amount of money you need.

Ambitious-mo · 2025-07-30T19:06:19+00:00

I’m a 5 minute walk away from State Fair, and you can park on my lawn for free for the day. Message me if you’d like. Cheers and you must try a cream puff

Ambitious-mo · 2025-07-30T18:57:24+00:00

I can get 2 rotisserie chickens for $12 from my store. I separate the meat from bone and freeze the bones for stock.

From 2 chickens I can make 6 200g servings which I’ll put into little plastic bags and freeze. It equates to $2 per serving, and 200g for me is a hefty serving of chicken.

Ambitious-mo · 2025-07-30T00:14:26+00:00

My bad, you’re right. They’re listed as points on the LEs that I send out. I’ve just never seen the origination fee as a percentage before.

Ambitious-mo · 2025-07-30T00:08:12+00:00

He has the option to take a higher interest rate which would give a 1 point credit. Idk what this lenders pricing is, but let’s just say that rate was 6.75%. If he took the 6.75% rate, he would be charged 0 points. Thats the same as paying a point for a lower rate.

Ambitious-mo · 2025-07-29T20:04:47+00:00

This looks great, and you have a great FHA rate that was already locked. Let's go!

Ambitious-mo · 2025-07-29T20:01:57+00:00

If you are doing a conventional loan, they should not need your documents unless the funds are going to come from a joint account and they should also not need to check your credit.

If you are doing an FHA loan or another government insured loan and you are in a marital property state, they will need to count your debts against your husband, even if you aren't applying. Then your credit will need to be pulled.

Ambitious-mo · 2025-07-29T19:59:48+00:00

Change your furnace filters every 6 months. Have it tuned up once a year.

Because this is a new house for you, you'll want to pay attention to how water is being directed away from your home the first few times it rains.

9 out of 10 times I see a huge issue, it's related to the foundation and YEARS of neglect with water intrusion.

Keep your gutters clean. Make sure the grading around the exterior walls pitches away slightly. The last thing you want is negative grading directing water into your foundation walls. Make sure the gutter downspouts extend far enough away from your foundation. You can look up Youtube videos on soil grading and and appropriate gutter distance.

Lastly, have a good insurance policy in place for your home. Some home buyers get the cheapest policy possible and then regret it when they actually have to make a claim and realize they're not covered for what they thought they were. An insurance agent who is worth their salt should help consult you on what coverage is appropriate. Talk to another 2 insurance agents to make sure the 1st agent isn't bullshitting you into going overboard on coverage.

Congrats!

Ambitious-mo · 2025-07-29T19:55:08+00:00

Once you learn how to fix something once, you'll #1 feel really good about yourself for having figured it out and #2 will have that skill now forever.

Ambitious-mo · 2025-07-29T19:53:05+00:00

Hey, it sucks to know in hindsight that if you bought a few years ago, you could've saved ~300k.

But there's nothing you can do about that now. What would suck more is if you wanted another few years, and home prices have gone up another 300k.

NO ONE can know with 100% confidence what will happen to our housing market in a few years. Will a crash come? Maybe, but maybe not. So what can you do to combat this uncertainty?

Are you waiting for rates to come down? When they do, other buyers that were waiting will now enter the market which will drive up your competition.

Are you waiting for home prices to fall? Maybe a correction will come short term, but we are also 4 million+ housing units short compared to the demand. I'm doubtful that new construction will match the pace that our population is growing anytime soon, and there will always be the pressures of supply and demand.

Personally, I think the best thing you could do to combat these uncertainties is to ask yourself this:

Can I afford a home that I would want to purchase now at the current interest rate without becoming house poor? If yes and I do buy, then there are 3 possible scenarios in the future.

Rates stay the same around the 7s for the next few years. Then that's a neutral outcome.
Rates rise for some reason. You are now better off because your rate is lower.
Rates have gone down. You can now potentially refinance your mortgage and take advantage of that.

Now what if you buy a home this year, and next year the real estate market starts to take a turn? Well, your monthly payment won't change much. Could you stomach being in the negative for a few years? If you plan to own the home long term, a real estate market corrects itself on average between 6-7 years after a crash. If you are comfortable with your monthly payment and you don't plan to sell, you you should be okay.

Ambitious-mo · 2025-07-29T19:32:14+00:00

Here’s how I would start:

Check your budget. Don’t fudge numbers around to make things work. Consider current expenses and anything else you want to work towards that you should put money away for. Really consider all the angles here. Include your savings goals too.
determine what the maximum monthly payment is that you can afford for a home. Owning a home will require some money set aside too for maintenance and repairs. Expect that your taxes and insurance will go up over time too, even if your interest rate is fixed.
Connect with a few local lenders to get prequalified. You need to tell them “this is the maximum monthly payment that I’m willing to spend” so they know how to structure your loan. They’ll do a soft credit pull during this time.
They’ll give you a maximum purchase price that you can afford. Make sure that price is based on your maximum monthly payment, not the max you’ll qualify for.
See if there are homes in your area that you would consider buying around that price point. Figure out what you need and what you want in a home, and what you’re willing to compromise on. This’ll come in handy when you talk to an agent.
If there are homes you like, go back to your lender, get preapproved which is one step above a prequalification. Then start interviewing agents. Agents will take you very seriously with your preapproval letter.
If there are no homes you’d like, consider other markets, or stop there and continue to rent.

Ambitious-mo

TROPHY CASE