Tuesday, March 19, 2013

Home Appraisal: The Results

Last week I explained why we were stressin' out about our appraisal---and some of the things we did to avoid the stress of a larger mortgage payment than necessary.

AND IT WORKED! Our home appraised for even more than we hoped it would! We were thrilled. No PMI with this mortgage payment! Now...hopefully the tax man sees it the other way around, hah.

Oops, I am recycling a photo.
We also locked our rate.
I remember when we started the homebuilding process we were hoping rates would stay around 4% until we finished. Well we were lucky---they dropped even lower than that over this past year! We locked in it at 3.5%.  Although they were a tad lower here and there, we still feel like we are getting a fabulous rate.

We sign the final paperwork later this week. It will feel really good to get this loan process out of the way.

And that is all I have to share today. I know this was a quick update for you---and I even took the easy road and recycled a photo/graphic. LAME. But we have lots more stuff to share soon, and even another DIY build coming up!! Stay tuned.


Pssst...
See our post about how a construction loan works!
Take a look at the rest of the house tour too!


P.S. Adam thanks you for his birthday wishes. We had a fun weekend celebrating!

8 comments:

  1. I just came across your page ! Great blog ! Full of useful information !

    http://thehomeprocess.blogspot.com/

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  2. Yayyyy!!!! That is such wonderful news! Our appraisal came back good too...so we will be able to go through with the refinance and lower our monthly payment by almost $400! Of course, we still have PMI because we aren't quite at 80% yet, but we've only been in the house for a year and a half...still pretty good if you ask me!

    I'm so happy for us hehe! :)

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  3. Great rate!!

    We will probably get our house appraised before we put it on the market, just so that we have a ballpark figure of what to ask!

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  4. COngrats! This is great news :)

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  5. Whoo hoo!!! congrats!! I know you've got to be so relieved!!

    oh and I have a post full of recycled photos today. :)

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  6. Yayyyy! That is big exciting news, for real. I'm excited for you guys to get a great rate!

    ReplyDelete

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