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XP on BH board- Inspection is over!!!

We had our inspection this morning at 8:00 and it went right along swimmingly!

No deal breakers, very few minor repairs needed...

Plus, the interest rates dropped to 4.875% just in the knick of time... and I think it might have dropped again to 4.6?

Just thought I would share! Thanks for the good wishes!! 

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Re: XP on BH board- Inspection is over!!!

  • Awesome news! Will you get the previous owner to fix the minor things before you move in or will you have to do that?? Exciting!
    imageimage
  • imageDH&LS06:
    Awesome news! Will you get the previous owner to fix the minor things before you move in or will you have to do that?? Exciting!

    We haven't really talked about it yet... I don't know what we're going to do! I'm sure at least some of it will be written into the contract. :)

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  • That's awesome news!!!!! I'm so glad everything went well for you guys.  If I heard correctly this morning, I think the interest is 4.6% so if you guys lock in that rate, you'll be doing realllllly good. 
  • imagekc0721:
    That's awesome news!!!!! I'm so glad everything went well for you guys.  If I heard correctly this morning, I think the interest is 4.6% so if you guys lock in that rate, you'll be doing realllllly good. 

    Well.. as of this morning, our lender is on vaca and he said he would lock us in at 4.875, so I emailed him and told him that I had heard that the interest rate dropped to 4.6 and I wanted to see what the chances were of us locking in that rate instead. He hasn't responded, and he hasn't called DH back yet. = We haven't paid our commitment fee yet and I don't know how all of that works, so hopefully he'll be able to work with us.

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  • That's great news!!!  Maybe the interest will just keep on the downhill slide. Congratulations.
  • That's great news!! I'm also hoping for a downward slide of interest rates since we haven't locked in yet.  Does anyone know if the interest rate is dependant on how far out you lock in?  We would need a 90 or 120-day lock in to make sure we have it covered, is the lowest rate just for 30-day locks?
  • AM - it's a BUYER'S market, get them to repair ANY and EVERYTHING that could be potential issues later.  Everything is on YOUR side.
    Lock in now, as low as you can.  If your broker is out of the office someone else there can do this for you.  Do NOT rely on that broker if they aren't there to help you and the rate is SO wonderful.

    Lindsay - I think you can lock in 90-120 days out, but don't quote me on that.  Talk to your broker as building and buying are different scenarios sometimes.

    HTH and congrats to both of you!!!!!

  • That's great!!  Awesome interest rate!
  • P.S. I can't wait to see pix once you guys get closed and moved in.  We'll have to have a party!!!!!! 
  • This is so exciting! Congrats!
  • That is so exciting!!!!  Congrats!!!!!
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  • Wow that's great! Congrats!!!
    Erin~N~Gregg 6/30/07 Project 365 imageCafeMom Tickers
  • woo hoo!!! ?congrats!!!!
  • imageaubie96:

    Lindsay - I think you can lock in 90-120 days out, but don't quote me on that.  Talk to your broker as building and buying are different scenarios sometimes.

    Yeah, he told us earlier about the 120 day lock in, but Jarrett seemed to think it was going to cost us and that the interest rate would be a little higher to lock it in for that long.  I told him just to call today and see what he says.  Thanks!

  • Yay for a good inspection!!!  Talk to your agent and make sure you get those homeowners to fix everything you can....that way it's less $$ out of pocket for you guys!  Keep hounding them about the interest rate...I am sure you guys could lock that in :D
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