Thursday, November 3, 2011

Weekly Update Along with Our Interest Rate!

Hi All,

I hope everyone is doing well and progressing with your home!  PM just called; here is the schedule for the upcoming week:

Friday - Saturday: Siding; Pepco will be out tomorrow also for electricity!!!
Saturday - Monday: Install cabinets and interior doors
Next week: Flooring (tiles, vinyl)

Jay and I locked in our interest rate yesterday at 3.75%!! I think that's pretty awesome :)  I felt like we were playing Russian Roulette because I sort of wanted to wait just to see if the rate would decrease more, but Jay thought it was best to lock it in.

Our PM is trying to bump our closing date up to December 6 instead of December 16th; I am praying that this works out.  As always, I will keep you all updated...in the meantime, HAPPY BUILDING :)

9 comments:

  1. Good Luck with getting the date changed...just don't pull it in so far that they start rushing to get things done in time.

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  2. @BD thanks-- i agree; PM said that he did not want to sacrifice the quality of the work simply to have a date change.

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  3. Great interest rate! Is it an FHA or conventional loan? With our condo, there's really no telling when we will close since the county requires so many inspections (a good thing) before we can move in. They may finish by December but the inspections could take up to 2 months.

    I visited a model like your recently and LOVE the two car garage, family room on the ground floor, and huge deck. Are you allowed to put a grill on your deck?

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  4. 3.75% is amazing. Is that with NVR? We were quoted 4.25% for a standard 30-year fixed rate with NVR last week, but the national average for same was announced to be 4% just today.

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  5. We got 4.25% too. We wish we could have gotten lower because we have a pretty big loan. Congrats!

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  6. @Romero&Esmeralda @SCJ - We have an FHA loan--through NVR; however, we applied for a Community Development Administration (CDA) mortgage and we qualified. CDA is backed by FHA. Also, through CDA, we received an additional $5k for our down payment. The interest rates through this program is always lesser than the national average as well. Their 30 year mortgage is currently at 3.75%. I hope I am making sense! For more info: http://www.mmprogram.com/

    @Romero&Esmeralda Yes, we are allowed to grill on our deck. The 2-car garage is an awesome perk :)

    @Carlito 4.25% is still a great rate compared to what the rates were years ago.

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  7. COngrats on the rate! Crossing my fingers that it can all get done and you can close early!

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  8. Good to know that you were able to work through a program and still use NVR we thought that since the insist that you use their lender that they wouldn't be up for it. Shame on us for not even trying but your right 4.25 is an awesome rate! But I have to say that 3.75 is even more awesome, congrats again!

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