December 18, 2003
Contract Signed and They Are Just Giving the Money Away
I signed the contract for my apartment yesterday and handed over a nice large check. Not as large as the one I got when I sold my apartment, but it was still quite hefty. With the signed contract, I went to my bank to submit my mortgage application. On Monday, a fixed-rate 15-year mortgage was 4.875%, which is already damn low. When I went yesterday to lock in a rate, I was pleased to find out that the rate went down to 4.75%, which is a savings of $7.76 a month, but over 15 years, that's $1396.80. All you math geniuses can now figure out how much money I'm borrowing. The loan officer told me to expect a late January or early February closing. Now, I have to think home design again.
Previous new apartment entries:
- appliance shopping
- floor and counter ideas
- the apartment
- the floorplan
Posted by tien mao in House and Home at 9:44 AM
wow, so in a matter of months, i can drop in on you when visiting newtown? fun!
Posted by: dahl at December 18, 2003 10:47 AM
yes, i suppose you could. although, in theory, if you're visiting newtown, i should be at work.
Posted by: tien at December 18, 2003 11:01 AM
at least you can afford 15 years. i'm on a 30.
Posted by: e at December 18, 2003 11:51 AM
what???? motherfucker. that's 2% more than when i locked in my rate in sept.
Posted by: corie at December 18, 2003 2:40 PM
2% more? or 2% less? because with the "????" and the "motherfucker" i couldn't tell.
Posted by: tien at December 18, 2003 2:59 PM
oh, my bad. i was curing at the air...then regretted it when i realized that your parents might read it. anyway, 2% higher-- though i'm at 30 years. perhaps mine would have been lower if i'd had more in the bank, etc. still, that smarts. but i won't look a gift horse in the mouth.
Posted by: corie at December 18, 2003 4:44 PM
no sweat, i think i'm still going to curse, even if my parents read the site. my friend dan is paying 3.875% on a 5 year ARM. he's in philly though. my last mortgage was a 30 year in the high 8s.
oh, and the only reason i can do a 15 year is because my common charge is so low.
Posted by: tien at December 18, 2003 5:22 PM
common charge = maintenance?
in my bldg they said the maintenance hadn't gone up in like 10 years. then when i moved in, it's gone up every year. this year it's going up 10%! it's insane. i move that they use fake flowers for the lobby. who cares if we have pretty floral arrangements? that's a waste of money.
Posted by: e at December 18, 2003 5:41 PM
oh, yes, same thing. well, at least in my usage. they are raising it 20% jan. 1, but it's still dirt cheap.
Posted by: tien at December 18, 2003 5:45 PM
tien, are you going to have a renovation party (make friends help renovate, then feed and liquor them up)?
Posted by: corie at December 18, 2003 7:22 PM
hey corie, no renovation party, since i think i'm hiring some contractors, but maybe a move in party...just as long as the alcohol comes after the stuff is in the apartment.
Posted by: tien at December 18, 2003 10:59 PM
Post a comment
tien: hey corie, no renovation party, since i think i'm hiring some contractors, but m... {read on}
corie: tien, are you going to have a renovation party (make friends help renovate, then... {read on}
tien: oh, yes, same thing. well, at least in my usage. they are raising it 20% jan. ... {read on}
e: common charge = maintenance? in my bldg they said the maintenance hadn't gone up... {read on}
tien: no sweat, i think i'm still going to curse, even if my parents read the site. m... {read on}
corie: oh, my bad. i was curing at the air...then regretted it when i realized that yo... {read on}
tien: 2% more? or 2% less? because with the "????" and the "motherfucker" i couldn't ... {read on}
corie: what???? motherfucker. that's 2% more than when i locked in my rate in sept.... {read on}
e: at least you can afford 15 years. i'm on a 30.... {read on}
tien: yes, i suppose you could. although, in theory, if you're visiting newtown, i sh... {read on}