Skip to main content

Home Purchase Update

I locked in my rate at 5.375% last week. Rates had gone up since my broker sent me my GFE (Good Faith Estimate). I then bought down the rate to 4.875% which will cost 1.25 points and the will be paid by the closing costs the seller is contributing.

This may mean an even lower monthly payment. I say may because I won't know until closing if the estimate on the property taxes
were correct or far off.

I also shopped around for quotes on hazard insurance for the house. I spoke to my future neighbor and did some research online about what kind of coverage I should have and how much. I got back 4 quotes that were pretty much identical in terms of amounts of coverage and areas covered and whose premiums ranged from $664 to $776. The only difference was the companys' reputation and ratings. I researched Demotech to find the stability rating for each company. And based off that, customer reviews, and word of mouth I went with the best company which was also the one with the highest quote of $776. I'll pay the extra $112 a year for better service and a more stable company.

I posted my shopping budget for the new house yesterday and left out patio furniture. Its not something I need RIGHT now but if I am able to spend less than the $4K I am aiming at then I will get a set. I saw a lot of good steals on CL.

Comments

Anonymous said…
Girl, you did the dang thang!

I love CraigsList. I have done the same since purchasing my home September 2007. No furniture in my house has cost me more than $100 bucks! I have bought project pieces that require painting to make it cohesive looking in my home. My best find a beautiful white dresser--one super heavy, real-wood find for only $50 bucks. Everytime I look at it, I'm proud of myself. Also, check out rooms to go outlet (we have one in ATL). I got a $700 dinning room table (no chairs) for only $99 bucks! It had some deep sctatches in it that I used a little wood filler and it's perfect.

Keep us posted, girl!
Anonymous said…
Great rate! Good going on buying it down. I'd have done the same, but I couldn't afford to buy the rate down AND keep enough of an emergency fund.

Popular posts from this blog

My $100 grocery budget and tips for saving on your grocery bill

I did a post back in October on how I kept my grocery budget under $120. In that post, I had pictures of the grocery shopping I had done earlier in the day for a total of $29.76. I also listed a number of ways I keep my grocery budget so low. Today I did some grocery shopping for meat and some other misc items. Here is what I bought: - 2 packages of chicken breasts - 2 packages of drumsticks - 2 whole hens - 2 packages of chicken wings - 1 bag of roma tomatoes - 1 bag of onions - 1 bag of organic baby carrots - 2 gallons of water (not shown) - 1 bottle of bbq sauce Total = $24.90 One big way to save on groceries each month is to package the food you buy into servings sizes. Your serving size depends on how many people are in your family. I separate out my sizes based on how much food my daughter and I consume in one meal. Take for instance drumsticks: My daughter will eat one drumstick while I will eat two. So I package those in threes. I know some folks are visual so here is wh...

Yeah......

Hey guys. Sorry I haven't posted in a while. Life has been extremely busy. Trying to get used to the extra responsibilities on top of my existing overflowing list. I will try my hardest to post my do's and don'ts of buying a house tonight. Hope all is well.