Obtaining a Mortgage

Sidenote: I'm not being an overachiever by posting twice in one day. I had my blog set up through my old email and decided to transfer it to my new email address.

Back to the topic, Kunal and I are in the process of buying a place of our own. Paying rent in NJ is insanely expensive. Paying a mortgage in NJ is that plus half a leg. Nonetheless, we are both super excited to own our first home. We're getting a townhouse because it's a good baby step in homeownership. Ideally, we want to buy a home and settle in NC but figured since we're here for a good bit, might as well have something for keeps versus throwing money away for a tiny apartment. Here's a picture, just ignore the car

 
As with any home purchase, we're obtaining a loan for an insane amount of money that we cannot fathom how we're going to pay back. The process of closing on a house is quite long and extremely expensive. We haven't even finalized a closing date and already we've spent over half of our savings. Never before did I think I would be so interested in mortgages, escrow, and lenders but I feel as if I am fairly knowledgeable about it now. We're playing the waiting game now  to finalize our closing date.

One of the things we are trying to avoid is the negative outcome of our lease. We can't just pay a set amount and break out lease. We'd have to pay until June when our lease actually ends. Hopefully we will be able to find a sublease so we don't lose $7k for a place we aren't even living in. *Fingers crossed!*