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| Soon to be kitchen |
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The twins on the mowers outside of Lowes...Love them so flippin much!! Morning room- so great       |
Sunday, September 8, 2013
Up, up, and away! The house and the rates.
So as of Friday the framing is done, the roof is on, most of the windows and exterior doors are in, and plumbing has started. These things make me happy! I am meeting with Guardian in the morning to go over placement of things and I really hope that we can have our pre drywall meeting before the end of the week because not only is the house going up quick, but so are the interest rates!! It makes my stomach turn just thinking about how much it has went up since we originally signed our contract. The rise in interest rates has already made our mortgage payment go up by about 2 hundred per month, and frankly we can't handle anymore- I emailed our PM last week to ask about the estimated closing date which was November 1st and he said that closing would be pushed out but should happen sometime within the first half of the month. I'm not really worried about the delay too much because it isn't that long (even though it stinks a little) but if things would've been on schedule for Nov. 1st then we could've locked in our rate last week. I'm going to shoot another email to our PM and stress how important it is that we have our pre drywall meeting ASAP so that we can lock in an interest rate. I really want things to go smoothly because my family is really looking forward to this home and I would hate to have stupid interest rates be the down fall of all of this.....Anyways, here are a few pics...
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I feel you on the interest rate; we added $152/month. We locked on Thursday with an outside lendor at 4.625% right before they went up to 4.750% that afternoon.
ReplyDeleteI looked this morning and they may have dropped back down to 4.625%.
We already joke that we are going to be house poor and have blankets in our windows until we move out.
Our only hope at this point is that they overstated our monthly taxes into escrow.
Good grief that was fast! We had our basements poured at the exact same time and my framing hasn't even started :(
ReplyDeleteAnd, I am flipping out about the rates too :( When we started they were at 3.375 and now they are at 4.75 :( We can't lock in until probably end of November because our loan is done differently than yours. I hope you get to lock in soon!!!
I can understand your concern with the rates. We went thru the same thing. They say 30-days after dry-wall and dry wall takes about 7-10 days. You maybe well in 60-days now but our framing inspection was delayed SO once your framing inspection is completed you should be good to go for a rate lock. You are doing the right thing....keep your PM working on it!
ReplyDeleteOn the other hand, YAY on the progress! Its coming along beautifully!
Nice progress. Maybe you can get a 60 day or longer rate lock. When we started in January rates were almost a point lower than we locked in now. But since RH is delaying our closing again we might be losing our rate lock at this point. Good luck with the rates.
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