matt

Yesterday we spent an hour or so talking to the mortgage guy for our house, and like everything with this house, it's not exactly as we've been lead to believe. It's not like they lied really, just that I don't think we were fully informed about everything and the full details are now apparent. The one thing that irks me is the interest rate. The bank can't set our interest rate until we are at least 30 days from closing. Since we wont close until the house is built, we don't know what our closing date is, nor can we set the interest rate.

What bothers me about this is that worst case scenario. Part of why we're buying a house now is because of low interest rates. Now, I don't think interest rates will jump 3% by the fall, but they could rise 1-2% and that can greatly affect our mortgage payments. To me, I think they should say "Gee, Mr. Hochberg is buying a house and has committed to it. Let's lock in the rate and get him all set now so we can gain a customer and be all set when the house is done and it's one less thing to do.". I hope that the interest rates hold, or even drop, but we're going to have to seriously consider other lenders more so than I think we had originally thought.

All things considered, we're excited about this house and looking forward to move in day....whenever that is. I'm also rather impressed with our realtor. She actually remembers who we are and every nuance of our details. It's important to me that she remembers all of that because it makes me feel like we matter and we aren't just another customer. Also, I give her more respect for staying on top of things and that makes me feel like we do have a partner in the process. I've had plenty of instances where I've had to constantly remind the sales person I've worked with about various details and then it makes me feel like I'm the one doing their job.