10 July 2009We met some of our new neighbors today - Matt, who lives across the street; and Matt and Debbie, who share the easement with us. This photo was taken by across-the-street Matt. :)
July 10, 2009
Meet the Neighbors
10 July 2009We met some of our new neighbors today - Matt, who lives across the street; and Matt and Debbie, who share the easement with us. This photo was taken by across-the-street Matt. :)
July 9, 2009
Locked-In (the rate, that is)
9 July 2009
Today we locked in at a rate for our mortgage loan and ordered the appraisal for the house. We're obviously disppointed that the rates have gone up from their all time low at 4.75%, but we're still getting a fantastic rate. We also had to finalize how much down payment we were going to put towards the house, and, I have to admit the number makes my stomach do a little flip. A co-worker helped me to re-frame the stress as something more positive. She advised that even though the money was coming out of one asset, it's going right back into another asset. Therefore, the money isn't a debit. It's reassigned to a different asset. Thinking of it that way makes me feel better, for sure.
We're now done with the intense period of negotiating with the seller and figuring out the financing. Now it's all up to the lender and the underwriter to approve the loan based on the appraisal and our paper work. It's out of our hands now, which is scary and intimidating for someone like me who wants to know exactly what's going on and why. It's also frustrating to feel helpless, to not be able to do anything more to convince the lender that we're responsible people who aren't going to default on our home loan. I just take several deep breaths (being careful not hyperventilate) and try not to worry about it.
What's next? If the appraisal goes according to plan and the loan goes through, we'll sign the documents on July 23rd and get the keys on the 27th. And, there's the small issue of packing up and organizing our belongings (which neither Toby and I have found the energy to begin). I'm leaving for a band trip to Scotland the week after we move in, so I need to keep track of my gear and make sure we don't accidentally put my drum and sticks in the attic. :-)
Today we locked in at a rate for our mortgage loan and ordered the appraisal for the house. We're obviously disppointed that the rates have gone up from their all time low at 4.75%, but we're still getting a fantastic rate. We also had to finalize how much down payment we were going to put towards the house, and, I have to admit the number makes my stomach do a little flip. A co-worker helped me to re-frame the stress as something more positive. She advised that even though the money was coming out of one asset, it's going right back into another asset. Therefore, the money isn't a debit. It's reassigned to a different asset. Thinking of it that way makes me feel better, for sure.
We're now done with the intense period of negotiating with the seller and figuring out the financing. Now it's all up to the lender and the underwriter to approve the loan based on the appraisal and our paper work. It's out of our hands now, which is scary and intimidating for someone like me who wants to know exactly what's going on and why. It's also frustrating to feel helpless, to not be able to do anything more to convince the lender that we're responsible people who aren't going to default on our home loan. I just take several deep breaths (being careful not hyperventilate) and try not to worry about it.
What's next? If the appraisal goes according to plan and the loan goes through, we'll sign the documents on July 23rd and get the keys on the 27th. And, there's the small issue of packing up and organizing our belongings (which neither Toby and I have found the energy to begin). I'm leaving for a band trip to Scotland the week after we move in, so I need to keep track of my gear and make sure we don't accidentally put my drum and sticks in the attic. :-)
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