So, I had marathon meetings with bankers yesterday afternoon. The good news is I can qualify for the amount of mortgage I want. The bad news is because my credit history is so short (and I thought I was good not giving into all the salesmen at Tech encourging students to get credit cards and not getting one until my junior year!) -- I may not qualify for the 80-10-10 mortgage I want (because it would involve two liens, rather than one) and have to pay PMI. This is not good. (Why is it not good? because instead of building about $3000 in equity over the next five years + being able to deduct the interest of the second 10% mortgage from my taxes, I would just be flushing that same amount into PMI, which is just an expense with no benefit at all). But the bankers weren't sure by just looking at my credit score, they'd have to go through the full process, and there is a large list of lenders that would provide the second lien, so one of them might approve me.

And, thus, this weekend will be forever known as : House Hunting Weekend - take 1. Sometimes I wish I was a Feigh or my Aunt Diane, and then there would be no take 2, 3, 4 or 5 of house hunting weekends! I'd walk into the first house, look around, and say "I'll take it!".