Thursday, February 28, 2013

Papers, Locked In & HOI

I sure will be happy when the process of gathering all of these papers is over! I feel like I keep printing and printing and printing papers. Most things are simple, it's just taking the time to find everything, copy everything, print bank statements and checks and sign more agreements.

I also locked in our mortgage rate on Tuesday at 3.5%. When we started this process the rate was 3.25%. It has stayed at that rate since December. Just my luck- the same week I received our mortgage approval papers was the same week the rate changed to 3.5%. It is still a decent rate, but man I would have loved 3.25%. It's not much of a difference now, but in the long term it does add up to a lot more $$ in interest. We have been saving like crazy, so we're hoping to have a pretty decent down payment.

I also got in touch with a homeowners insurance broker and secured our policy. We will be paying a premium of $588 per year with a $1,000 deductible. This was the lowest rate I could find and most others were $630+. I'm happy with the savings :)

And let me just say....I am so impressed with my Loan Specialist. She has been such a big help in this process. She answers all of my questions and answers them pretty much right away (I use email a lot since it's hard for me to make long phone calls at work). She has kept in great contact with me and lets me know right away if she needs something from me- direct communication at its finest! She even emailed me the list of documents I need to get together, while I wait for the snail mail copy. She has provided explanations for me of all different documents and has really taken the time to help me in any way possible. Since we're first time home buyers, a lot of this stuff is confusing for me. I am definitely impressed and am so thankful I was assigned to someone that takes the time for me.

And I must not forget to mention my SR who answers any questions I may have too. I can pop in his office with a stack of papers and be like "got this in the mail, what the heck is it and what do I have to do?!" He didn't just sell us a house and forget about us, he actually still cares and takes the time for us even though we have already signed on the dotted line.

I am truly thankful for the people put in our path in this whole home buying journey.