Mortgage Meeting

We met with Victory Mortgage this week. Our loan officer was very thorough in explaining everything from rate locks to fees, however I still feel really confused :). The building process takes 4-6 months, therefore you can lock in your interest rate anytime until you close. There is a risk associated with that, because one you lock - that's it. If you lock 6 months out at 3.875%, you might have a cap of 4.3% meaning the highest the rate could go is 4.3%. However, if you wait until 60 days before you close to lock your rate, you might end up with a better rate - or not. It's all such a gamble and no one can tell you which way to go. Clear as mud.
For now, we are going to wait and see what happens with the rate. We will email our loan officer every week or two to check the interest rates and decide when to lock from there.

A few things we haven't decided on yet...

-To get a front porch or not
-Which upgrade of cabinets we will get

After talking with friends tonight who love their front porch we are leaning that way. I would rather have it than regret not getting it.

Tuesday we go for Selections. We will have the entire day to work with a designer on every detail of our home.

Here is a link to our floorplan on Fischer's website.

http://www.fischerhomes.com/img/brochures/F71.pdf