The house is almost officially ours. We started the whole mortgage process back in November, but as the first bank we visited ("our" bank) was thoroughly unhelpful, it was February or March before things really got going. It's a good thing the sellers (aka Mike's parents) are patient!
Anyway, I received a message at work today letting me know rates had dropped below 5% again and I should call back immediately if we wanted to lock in. The lender was out when I called, so I left the following voicemail: "I don't know if we're allowed to lock in a rate over voicemail, but if we can, would you please lock us in." Apparently we ARE allowed to lock in over voicemail and our interest rate is 4.925%. Hoorah! We'll never have to refinance unless rates disappear altogether! Our monthly principal payment is almost the same as our car payment...not too shabby at all!
We close on the 30th. Maybe by then it will be warm enough to start thinking about what we're going to do with the outside of the house...and the yard...and the garage...
Anyway, I received a message at work today letting me know rates had dropped below 5% again and I should call back immediately if we wanted to lock in. The lender was out when I called, so I left the following voicemail: "I don't know if we're allowed to lock in a rate over voicemail, but if we can, would you please lock us in." Apparently we ARE allowed to lock in over voicemail and our interest rate is 4.925%. Hoorah! We'll never have to refinance unless rates disappear altogether! Our monthly principal payment is almost the same as our car payment...not too shabby at all!
We close on the 30th. Maybe by then it will be warm enough to start thinking about what we're going to do with the outside of the house...and the yard...and the garage...
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