Cordelia ,'Dirty Girls'
Spike-centric discussion. Lusty, lewd (only occasionally crude), risqué (and frisqué), bawdy (Oh, lawdy!), flirty ('cuz we're purty), raunchy talk inside. Caveat lector.
Hil, are you working with a mortgage broker or a bank? A broker should be able to get you a fixed-rate mortgage.
ARMs generally start out cheaper than fixed-rate, but because the interest rate fluctuates with the market, they are riskier for the buyer.
Thanks. He gave me a few different options for how long it would be until the rate was adjusted, and there were different rates for each of those options. I'm working with a bank. I'll talk to the realtor about other mortgage options. The mortgage person had been saying that I could get a fixed rate mortgage, until the appraisal came in. I'm waiting to hear back from the realtor now.
I've had adjustable the last couple times. It is only a danger if interest rates spike. And yes, you can continue to look for a fixed rate later.
Mortgage brokers have more options than banks.
My issue is that the closing is scheduled for next week, so I don't have too much time to shop around.
Rates aren't going to spike any time soon. I wouldn't worry about an adjustable.
The realtor gave me the contact info for another mortgage person (one associated with the realtor), but my brain has kind of hit the end of its ability to process for the moment, so I might wait until tomorrow and call or email then.
Working on the mortgage. Still got some options to consider. Might get the closing date delayed by a week or so. Which might be a good thing, because I still haven't gotten the money that my parents said they'd give me for the down payment, because my father somehow decided that the best way to transfer money from one account to another, at two different banks, was to have the first bank print out a check and mail it to him, and then he'll go and deposit the check in the other bank, wait for it to clear, and then send it to me from that account. So this is taking two weeks rather than two days.
I feel like almost every house sale/purchase we've been involved in has had the closing date pushed back. It's not a big deal.
Yes. The month or two before closing is filled with tension filled emails and phone calls. No fun at all.
Getting through closing was like having an extra full time job with we did it last year. It was always a race to get one more thing, and because of tax reasons we really had to finish before the end of the calendar year in 2017. Our closing date ended up slipping from I think 12/23 to 12/26. It was right at the wire. Our purchase was officially recorded on 12/27.