Mortgage Questions

[89th]

An update for those who care:

Ended up going with Wyndham Capital, mainly because they were pretty responsive when I had questions and others were a little slow on the response. I also had 3 lenders competing as I used one Loan Estimate against the next, when they would ask how I got a rate so low.

My initial lender said 30-year fixed conventional are averaging around 3.15% right now, but I was able to lock in at 2.75% with very minimal fees, so I'm happy. He wasn't able to match it, so I had to part ways... #sorrynotsorry

Here's hoping there are no hiccups during underwriting or whatever happens between now and closing.

[Axtremus]

Assuming you already locked in the rate, and from the other thread it looks like you will close well within 30 days, I think you’ll be fine. Congratulations!

[brenda]

That's excellent, 89th! Good job!

[Friday]

Make sure you get a comfortable pen to write with. You will be signing/initialing a lot of papers.

[Mik]

That's an outstanding 30 year rate. Well done.

[George K]

@mik said in Mortgage Questions:

That's an outstanding 30 year rate. Well done.

Indeed. Now do this: Make one extra payment per year and your 30 year mortgage becomes an 18 year mortgage.

[Mik]

And make it as early in the mortgage year as you can.

[Jolly]

@friday said in Mortgage Questions:

Make sure you get a comfortable pen to write with. You will be signing/initialing a lot of papers.

Amen.

[George K]

And make each signature look just a bit different.

Plausible deniability, etc....

[89th]

@george-k said in Mortgage Questions:

And make each signature look just a bit different.

Plausible deniability, etc....

LOL!

[89th]

@friday said in Mortgage Questions:

Make sure you get a comfortable pen to write with. You will be signing/initialing a lot of papers.

At closing? Maybe! But what's been funny so far... the entire process has used electronic signatures and initials. Realtor, purchase agreements, loan estimates, etc. ALL electronic. Way different than in 2009 when I bought my condo...where it took a billion signatures/initials!

[Axtremus]

Real-estate brokerages may be fine with digital signatures, but state laws may still require real signatures signed in the presence of a public notary when it comes to deeds and liens. The paperwork you sign at closing is oriented towards formalizing who holds the deed and the lien.

Expect to get paper copies of things you sign, and be sure to keep the paper copies with original signatures.

Good luck!