Monday, November 3, 2008

Twilight and Houses

So, the weekend was a pretty darn good one. My Aunt Karen and Uncle Steve came down for the weekend, and we had a great time--caught a football game, went to see Eagle Eye, and ate at some great restaurants that Justin and I would never be able to afford on our own. It was such a blessing to be able to spend a whole weekend with MY family. Don't get me wrong, I love Justin's family too...we just end up seeing a lot more of them than we do of my family due to the band. The only downfall to the weekend was that I had my migraine ALL weekend. In fact, I had it all the way up until 4am this morning. I was seriously contemplating having Justin take me to the hospital because NOTHING was helping at all. Even my migraine meds weren't even taking an edge off. But I got up at 4am, took some Bayer, and miraculously the migraine was gone this morning. Thank GOD.

Over the weekend, my sister gave me the first two books in the Twilight series to read. I am usually not into sci-fi stuff at all, but they were rather enjoyable, and a quick read. I read the first book and half of the second yesterday. Justin's started to read the first book as well. I just MIGHT be hooked.

We went in and talked with our lender this morning. Can you believe that interest rates have gone up? Oregon Bond loan is up to 6.25%, and regular rates are like 6.37%. To give some reference, when we originally went in to get a good faith estimate, which was BEFORE the financial crisis, the regular rate was 5.75%. Anyway, we asked her to run a good faith estimate with the regular rate instead of the Oregon Bond, and I am a VERY happy camper. Instead of paying $2500 toward closing, we'll actually likely be getting some $ back! With the estimate as is, it looks like we'll be getting $100 back, and that's with the estimate showing that we haven't already paid for the inspection. Since we have, we SHOULD be getting back even more. With the difference in the interest rates only being .17, it's definitely more beneficial for us to be going with the slightly higher interest rate.

We talked with her about our concern about having a mortgage that's more than the cost of the house. It turns out that the $3200 is a fee that applies to basically any loan if you're not putting 20% down. We'd have that fee if we used FHA or any other type of loan as well. The only way to get around it would be to pay that $3200 up front. So, although I'm not extraordinarily happy about that, it looks like we're just going to have to do it no matter what. I'm hoping that with the money we'll be getting back at closing as well as our tax return, that we'll be able to make a lump sum payment by Feb. that will bring us back to the appraisal price anyway.

So that's that!

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