u/Zestyclose-Fact-5001

Me and my wife are buying our first home in southern Indiana and received a quote from USAA. Everything seems reasonable except for wind and hail, which ended up having a $13,000 deductible which is how much it would cost to replace the entire roof. I understand the area is a little more prone to hail but it seems pretty pointless to even have the coverage if they’re only paying a couple hundred dollars.

Me and my wife are considering a $385,000 house and we think we can afford it but also don’t know if we’re just being too ambitious and should go for something cheaper. My monthly take home pay is $7,208 and hers is roughly $5,000. We would use my VA loan with no money down and buy the rate down to 5%. Total monthly mortgage would be about $2,581. I calculated how much money I would have after all my expenses, mortgage, gas, WiFi, groceries, retirement, etc and I’m left with $3,504. It seems like a decent amount to me but I’ve never owned a home so I don’t want to end up in a bad financial situation. We also plan on having a kid within the next year or so.

Edit: she takes home $4,500

I’m currently buying my first home and I just realized I forgot to file a 1099 I received from 2024. It was for roughly $14,000 from some account my grandma made for me when I was a child. She’s a hoarder and never checks her mail so by the time I received the 1099 form it was too late and honestly I just forgot to file it. I’m currently using W2’s to qualify for the loan but I’m wondering if this 1099 is going to throw a huge wrench in the process during underwriting.