We are so happy that the rates came back down! When we first started looking at homes the rate was 4.4%. Once we decided to build the rate rate went up to 4.6% and climed as high as 4.9%!
This is great news as its one more thing I can cross off the worry list..
That is awesome! I'm a little jealous though :(
ReplyDeleteGreat. Is this for conventional or government?
ReplyDeleteThat is a fantastic rate!!! I do have to laugh a little when you all are worrying about rates going from 4.4 to 4.9. I know it means a difference in your monthly mortgage payments. When my wife and I were buying our very first house we were freaking out as the rates went from 13 to 13.5...we managed to lock that in and they continued up to around 16%. Our beginning monthly principle payments were only about $10. I made triple principle payments the first year and refinanced 3 times in the first 8 years and still only had the rate down to 9%.
ReplyDelete2011,
ReplyDeleteThis is a fixed rate FHA through NVR. I thought it would be higher going with NVR, but they seem to be right on par with other lenders.
BD,
It is kind of funny.. Our first house had a 8.65% and we couldnt have been happier at that time!
Thanks for the comments everyone.. This has been a great experience so far. Its nice to see what others have done throughout the building process and to try and use thier experiences to build your home.
WOOHOO!!!
ReplyDeleteHow's the house coming? Would love to see some updated pics...you're closing soon aren't you?
ReplyDelete