Newbie from Aurora, CO (Denver, CO)

[Christian Roman]

Hi there BP community! My wife and I moved to Aurora, CO from Orlando, FL in April of this year. We have a year lease on our apartment (approx $1400/mo in rent) but I would love for our next move (April 2018) to be a house hack. We have about 15K available for a down payment and make about 68-75k a year together. We have very little wiggle room to save (2-300 a month) due to student loans. We both have fair-good credit in the 670-720 range.

I have read a few posts, watched videos, and started reading the beginner's guide. Would love tips on the practical first steps and recommendations on realtors, and where to start the pre qualification process and get started in the world of REI.

[Chris Lopez]

@Christian Roman - You missing the summer humidity in Orlando? I lived in Miami Beach and Tampa for a year... oh I hated the humidity.

Onto more serious stuff... You're on the right track, getting the finances and prequal done is the first step. 

Is there potential to get your credit score to 740? I believe that'll get you the best rates.

How are your student loans structured? Are you at the gov't's 6.8 interest? Any possibility to refi at a lower rate or longer amortization? The lower your DTI, the better for qualifying.

Give @Jared Bouzek a call! He's very knowledgeable and can probably go into a lot more details that I can on the loans. 

What type of house hacking are you thinking of? Multi unit? Buy a place and rent out part of it on air bnb?

I'd start looking at places on the MLS with your wife ASAP. To stereotype... guys are usually much more comfortable living in certain areas and not as nice properties than women. Guys see the numbers and wives see the ugly house!

Give me a call if you have any questions.