Wednesday, March 20, 2013

Muddling Through A Mortgage

Ok, so you all saw my post last week regarding the closing costs. Well that same night, I spoke with my LO and the closing cost manager. They were able to change a few things around and reduced our costs to a little over $9,500.00. I was happy. Later that night I got the GFE and noticed the home price was increased by $6,000.... say what?! Ugh... at this point I am so frustrated that I just start crying. 

My other LO happened to call later that night and explained it all to me. The increase in the price was for some change orders that hadn't been factored into the previous GFE. Ok, feeling much better now! She assured me the USDA loan was the best for us. She also noticed the transfer tax did not update on the GFE, so she had me request a new one from the closing manager with the updated information. I think I went to bed that night and dreamt about mortgages, loans and money. Of course, my stressing makes Alex stress and it's one big stress fest in our household..... Not. Good. 

So the next day I start reading all kinds of things online about owner's title insurance and different fees that are negotiable with the lender.  So of course, I email my LO with all kinds of questions. Overall, I've probably exchanged 200+ emails asking all kinds of questions. 

Seriously, both women that are working on my loan have been so helpful and kind. They sympathize with me and are very understanding of my stress, questions and lack of mortgage knowledge. I swear I'm driving myself nuts! My LO said some things that made me pull myself back down to ground level... "this time is supposed to be fun, exciting and enjoyable..... trust that this will all work out, what you're feeling is normal, take a deep breath and relax." So, that's what I'm going to do....get back to reality and let this mortgage stuff go. 

I'm feeling much better, much happier and am excited for the next steps! It sucks to see a ton of money go out the door for closing costs, but the reward of our own home makes things so much better!! Closing is scheduled for less than one month away!! 



10 comments:

  1. Glad everything worked out in the end :-)

    It can be very stressful but the outcome will make it worth it.

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  2. This has sounded so crazy and stressful for you. Hoping is all passes quickly and you are in your new home before you know it.

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  3. You should definitely shop out the owner's title insurance policy and settlement service fees, as I commented on your post last week. We saved almost $2000 just by shopping them out then NVR agreed to match, so we were able to stay with NVR, which has to be much more efficient come settlement time.

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  4. I am glad you were able to get some costs down. And yes it is stressful but just remember that everything will work out and you will have a beautiful home in the end!

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  5. Try not to stress to much. I know it is a lot to take end but you will have a beautiful home in the end.

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  6. You’re lucky that your loan officers helped you out in your mortgage, and they even gave you an encouragement not to get stressed. Mortgage is definitely a complicated thing, but you don’t have to stress yourself out with this matter, because you have a loan officer that will handle this. Look into the brighter side of owning your dream home. Anyway, I’m looking forward to seeing you in your new home. #Domingo Phong

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  10. Mortgages will work out right when you know that the time is right. I mean, you must know that your budget can shoulder monthly payments without having to skimp on the daily essentials. Luckily you had great loan officers to help you a lot in the process. Have you moved in to your new house? I hope you can host a house tour. Thanks. :)

    Drew Andrews @ Tupelo.ChurchillMortgage.com

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