This whole house buying thing? Getting serious. We had three meetings with mortgage officers - two banks and one broker - and chose a very small, local bank. The closing fees were the best and the rate projections were better than any of the others. Also, he laughed when I asked him about some of the fees other banks were listing, saying they rolled all that into one fee because it makes more sense. Some of the fees he had no idea what they were. Padding, I suspect. Still. All three said we were a "slam dunk" or "golden" or "easy" because we're putting 20% down and not asking to buy Trump Plaza.... yet.
I will admit that I was glad to find both a better rate and better estimate on closing fees in one place as I was going to err for lower closing fee. See, I don't want to completely wipe out my various accounts in case of emergency. Yes, I realize that would be more costly over time as the, likely, higher interest rate would cost more. Still... must balance now and tomorrow, yo.
Tonight begins the great adventure. Three "pre-qualified" letters in hand, we start viewing the 15 or so houses we have on our list currently. The one still sitting is in foreclosure and the bank seems to be acting like a child, rejecting offers on the low end of their requested price range. If you want a higher price, don't ask for a lower price, especially when buyers have all the power. I am hoping to have narrowed the choices by Sunday as many are vanishing under our toes; we want to decide to pursue the foreclosure sooner rather than later. Houses new to the market are literally sold in days so we missed a number of them because we were getting our monies in order.
Silly us, trying to align ducks.
TGIMFF, yo. Let's get this party started.