Friday, April 29, 2011

Locked & loaded + Notice turned in.

Thursday, I received a call from my NVR rep telling me rates had finally dropped back to 4.5% we were looking for. This I had already knew because I've been watching them like a hawk. I told her about the conversation I had with the pm and how he wanted to wait a week to give him a cushion. She said in her experience she had never heard of them not being able to finish a home by the settlement date once it was under roof. She also said that she thought I should take a chance and lock because the rate is paying back money that would go towards my closing. If we locked it would carry me to the 27th of June and if we needed a few more days they can just use that money to pay and hold the rate. If we don't go over than the money will be used at closing.

Soooo....I locked in at 4.5%! I feel like the rate pay back was the deciding factor and happy medium. Technically, he already pushed up my closing date from the original date given at the preconstruction meeting and his extra week would take it to the 29th. I'm so excited I got the rate I wanted!

In other news...

I turned in our 60 day notice to move by the 30th. This made it SO real...I mean we are really building and buying our first and maybe or last home.


  1. My fingers, toes, legs, arms, and anything else I can cross will stay that way until the 10th praying to catch that 4.5%. Congrats on that!!!!!

  2. I know the feeling. Especially with the credit. I forgot about the permanent roof thing. Your LO is right, once that permanent roof goes on closing is practically guaranteed.

  3. Awesome! We signed our contract back in October when the rates were really good, then we watched them creep up. It's good news to see them coming down again. We're under roof and are going through our pre-drywall inspection today. We hope to lock in a rate next week too. I don't have a blog, but I do have a photo album. Here's the link to our Rome pictures:

  4. yeah, once the roof is on, it's all indoor work, so weather won't factor in to delays anymore! =)


  5. Come on Steve, make a blog, its fun.

  6. That rate is pretty sweet today is the first day that I am inquiring about rates. Did you have to pay any points or not in order to get that quote? 4.5% pretty sweet.

  7. @LaLady...Thank you. I’ll keep praying for the rates to stay as low as possible.

    @2011 I'm praying she's right because I told my pm that he'll just have to work around us if it's not done by the!

    @Steve I looked at your pics and it's looking good! It’s nice to see someone else building a Rome plan.

    Since you had you pre-drywall meeting this past weekend I would think you’re getting ready to lock in as well. have a great PM; mine will not schedule any of my meetings for the weekends or even past 3:00 pm.

    Steve, I see you’re keeping a photo blog but maybe you should consider joining our little family and start your own. It’s really fun and you get to know a lot of cool people.

    @Stephanie No points. Actually the rate paid ME money! According to my LO the rate was paying a percentage back so it goes toward my closing which is really sweet!