But I am still not all that thrilled about it. Ultimately the "incentive" that NVR gives you just gets added to your closing costs. So yes, your loan principal goes down which is cheaper in the long run. But being asked to bring $15k in closing costs was quite a shock. Union Savings Bank charges about half of what NVR does- particularly $395 origination fee vs NVR's $3000. NVR played fast and loose with the numbers and waited until the last second in order to do one thing- bend me over a barrel and show me all fifty states.
But once NVR saw that another lender had pulled my credit this morning, all of a sudden they were willing to haggle a little bit. When I left the NVR office I think I came out about as good as possible- the closing costs are at a manageable amount, the interest rate is where I want it to be and the house payments are ok. But in case you didn't already know, caveat emptor. There is no such thing as "free".
Showing posts with label mortgage. Show all posts
Showing posts with label mortgage. Show all posts
Wednesday, March 21, 2012
Monday, March 19, 2012
Good Times, Bad Times
Well the house is really coming along.
The drywall is up. The moldings and railings have been installed. The granite in the master has been installed.
The chair-rail, crown molding and wainscoting has been installed in the formal living room.
But...the wainscoting was NOT in the dining room. The "squares" in the dining room was part of the trim package. The formal living area was a non-standard option. Emails and phone calls have been sent to the PM.
And as for NVR, well let's just say it's not going as well as I would have hoped. For starters, I am really tired of dealing with multiple loan officers who tell me different things things than what Yvonne told me in the beginning. And then I finally got a call today about locking my interest rate; I close on April 12. And as fate would have it, interest rates went up twice today. To make matters worse, the rate quoted to me is higher that what other lenders are offering. Why wasn't I called 30 days before closing? I sent an email to the NVR office manager expressing my concern. Her response? She'll be out of the office and will refer my concerns to someone else. Great, now I am dealing with FOUR DIFFERENT PEOPLE AT THE SAME FREAKING OFFICE. ARRRRRGG!!!!!!!!!
The drywall is up. The moldings and railings have been installed. The granite in the master has been installed.
The chair-rail, crown molding and wainscoting has been installed in the formal living room.
But...the wainscoting was NOT in the dining room. The "squares" in the dining room was part of the trim package. The formal living area was a non-standard option. Emails and phone calls have been sent to the PM.
And as for NVR, well let's just say it's not going as well as I would have hoped. For starters, I am really tired of dealing with multiple loan officers who tell me different things things than what Yvonne told me in the beginning. And then I finally got a call today about locking my interest rate; I close on April 12. And as fate would have it, interest rates went up twice today. To make matters worse, the rate quoted to me is higher that what other lenders are offering. Why wasn't I called 30 days before closing? I sent an email to the NVR office manager expressing my concern. Her response? She'll be out of the office and will refer my concerns to someone else. Great, now I am dealing with FOUR DIFFERENT PEOPLE AT THE SAME FREAKING OFFICE. ARRRRRGG!!!!!!!!!
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