Building Our New Home

November 25 - Forking over the cash

We took the week to debate on what we want to do with the brick facing whether or not we wanted to take the plunge. Regarding the brick facing, we knew that this would have been pretty tough to do later. At the end of the day, it was aesthetics versus use...It was between the brick facing or the 4' extension, fireplace, 9' ceiling, and more... Both are nice to haves, but we decided that we can actually enjoy and use the inside upgrades. The brick facing was really nice, but we felt that the outside look was less important.

Soooo....we made the decision to take the plunge and go forward with the deal. We went into the meeting knowing this and it felt much better than making a rushed decision on Monday. We met with our sales associate and priced out the latest changes. We replaced the bricks with the upgraded structural features...the price actually turned out to be cheaper! She went through all the blueprints of the property and showed us the switch/eletrical diagrams. After that, we went through a stack of paperwork, signing or initializing our names on every sheet.

In terms of payment, in order to get the lot discount, we had go through Ryan's mortgage broker, NVR Mortgage. Use their brokerage service, we decided to go through Third Federal. Third Fed easily had the lowest rate, but more importantly, only required 15% down to remove the PMI. Our plan was the to eventually put 15% down...the 7% required now and then the rest at the close of the loan.

We forked over the 7%. It was by far the largest check that I've written. *cry* Ryan actually wanted us to pay the other 8% in 30 days! We had to push back on this because we asked this question before and they said it wasn't due until the May. Well, she was cool about it...and pushed the date out. Not quite to the close of the loan like she originally said, but a couple of weeks before, which worked for me.

At the end of the meeting, we got our "SOLD" sign. Beck and I went to our lot and stuck it on our lot number. Our next meeting would be to pick out the colors and options...and no checks due. yay!

posted by blimpy @ 12:05 AM