Thursday, January 3, 2008

Our final decision

Of course in all of this house hunting, we have to find a mortgage. Jason described his experience at the Credit Union as disappointing. She answered his questions but with a lack of interest in anything. The only way that they would offer us a mortgage for first time home buyers or teachers is with an adjustable rate. Have you read the news lately? Do you really think we want to get into that mess?

We were frustrated with the places that said they had first time home buyers plans, but still expected us to put 20% down or else pay mortgage insurance. One of the banks even said that we wouldn't qualify for a special loan like that using both of our incomes. If we used only one of our incomes, then we wouldn't qualify for the amount that we needed. Huh?

We have chosen Bank of America because their deal couldn't be beat. 5% down payment. around 1 point. 6.25% interest rate. No PMI. NO CLOSING COSTS. Yes, you read that correctly. They take care of the closing costs. We called to check because it seemed too good to be true. All we can say is SOLD: Bank of America mortgage.

Friday after Christmas we met with Sandy to discuss over lunch where we go from here (and also to tip her off about the gun house). It was quickly decided that our search was done and that we were going to make an offer on house #2. We tossed around numbers, what needs to be done, who contacts who, and decided to meet Monday to make an offer.

Monday morning (too early for Nancy who was still on break), we drove down to Newton to Sandy's office. She had some of the information already filled in and finished it up while we caught up with what had happened since our last meeting. We finished filling out and signing on the dotted line a little after noon. We figured with it being New Year's Eve, that we wouldn't hear anything until Wednesday. We headed off to the ABC store to get the ingredients for our traditional New Year's daiquiris.

About 4 hours later, Sandy called. Our offer was accepted!!

Ever since then, it seems like a blur. We have been showered with information and decisions to make: lawyers, insurance, dates, inspections, oh my. Here is what we know as of this very moment. (Yes, this is the blog actually being up to date.)

Saturday: Inspection of home with Sandy, inspector and us

January 30: Closing date (We get the keys!!)

February 2: The big move (If you are available, pencil us Krispy Kreme donuts at both sites...bottled dinner)

February 3-4: Clean up apartment and hand in keys (to the apartment, not house)

So upon hearing all of this good news, we turned to Harper and Fiona to tell them all about their new place and this is what we got.

Oh well. Might as well let them sleep peacefully now. They have a crazy few weeks ahead of them. We keep promising them that it is for the better. Maybe it is as much to console them as it is to keep us from going crazy.

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