Welcome — class starts May 6, let's get acquainted

This is probably a dumb question for week 1 but... is it normal for lenders to want like 2 years of "explained gaps" even if the gap was just me switching from part time to full time at Tanager?? im not first time buying myself but im helping my brother in law look and the loan guy is asking him for a novel about 2019. is that just how it always goes or did they get a weird lender IMO?

Signed up for this mostly so I stop giving my brother bad advice about buying vs renting long term, since he's living with us now and starting to talk about getting his own place again. not suer I qualify as "first time" since I bought my house 20 years ago and the whole world's different now. Question though... is it normal that lenders want like a full two years of everything, even weird stuff. I've got a lot of side cash from odd jobs, tool rentals, printing brackets for people, stuff like that, nothing huge but it adds up! Does that mess with getting approved or do they want to see it's consistent? Anyone dealt with that before class starts?

So im only here because we got outbid on THREE houses last year and I am still not over it... every single one, someone waived inspection and came in 15k over asking and we just... lost. alyssa keeps saiyng its fine we'll find the right one but i dont think shes the one who has to keep hearing about it from her brothers at every family thing lol. anyway hi im Colton, activities committee guy, here to learn something instead of just get mad about it again 🙂 Thanks!

Been lurking on a foundation repair forum for the past three months (long story, house we bought last year has some settling issues) and the number one thing every structural engineer on there says is: get three bids before you sign anything, and be suspicious of anyone who diagnoses the problem in under ten minutes without pulling out a level. Bringing that up here because I think it applies to basically anything you'll deal with as a first time buyer - inspector, lender, agent, doesn't matter!! Slow down and get more than one opinion even when it's annoying and everyone's telling you the market moves fast!

Also my neighbor who's been in Utah County his whole life told me the clay soil situation on the west side of the valley is no joke and to to ask specifically about soil reports if you're buying anywhere near it, not just a general inspection. Nobody mentioned that to us and probably should have.

Anyway excited for this, mostly here to not make the mistakes we already made.

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My brother in law works in construction financing up in SLC and I picked his brain over dinner last week, he said the biggest thing people mess up in this market is getting pre approved too early and then the rate changes on them and it tanks the whole plan..... which kind of freaked me out lol. also been down a youtube rabbit hole of first time buyer stuff at like 11pm, theres one channel that breaks down closing costs line by line and it made me realize how much I dont know, and I fix peoples houses for a living 😂 anyway excited for this class, hoping we get into the actual Utah Coutny market stuff and not just generic advice,

Loved the loan estimate breakdown, for sure.

same, jason.