Well, I am still shopping around and I'm glad because I found an even better deal.
We talked about it and it doesn't make sense to take a $5800 credit if we have to pay $100 more a month for 30 years...so we nixed that idea and locked with a new lender that we found on Zillow that specializes in VA loans for 3.5%.
We had previously locked 4.375% with our bank with a -1.625 credit (about $5800 at closing). Once I get the GFE from the new lender, I'm going to see if my bank will entertain the idea of matching it. And don't even get me started on NVR, I'm pretty much ruling them out right now because their communication is horrible. And if you know me and have been reading this blog for a while, you know that communication is all I need to get by in this world so if you ignore me, well then I don't want to deal with you. LOL.
Our payment will be about $101 less a month with 3.5% interest and we can always get furniture and do 0% financing for a year if we have to.
This loan stuff is killer though. Now that we have this locked, I'm done looking. I'm happy. My payment is right where I wanted it to be...we just won't be getting all our money back that we put down. Oh well. Money comes and money goes right?
Definitely worth going on to Zillow's website, put in your specifications and you can see all the lenders, their points, their fees...very helpful. Thanks Zillow!!
I am starting to shop around too... I keep hearing people talk about getting the money back they put down... is that only for a VA loan? We aren't VA and we're putting almost 20% down, so I'm guessing that we won't be getting anything back...
ReplyDeleteand as far as communication goes, I'm right there with you!!
Excellent choice!! Glad you can relax now and enjoy the rest of your journey!
ReplyDeleteWell done Kellie!!! 3.5%....That sounds like an awesome deal. Good for you! :-)
ReplyDeleteExcellent strategy, Kellie and way to play the market. We experienced some communication issues with NVR too, but I think that appears to be a common trend among everyone. I believe if there was more communication then more tensions would ease, but what do I know? I'm not a business person for a reason! Congrats on the great rate, Kellie!
ReplyDeleteCan I ask you, what you a choose for Insurance? USAA?
ReplyDeleteAt this time, yes. I might shop a bit on that too but we have always used USAA for our insurance and a previous home we owned had hail damage and they were fantastic in taking care of our claim. Not sure I would want to trust a different insurance company on this.
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