My Fiance and I are now on our way. We made an offer June first, they accepted, and now we just got approved on the loan.

It is in Walnut Creek (Ca.), 2 bedroom 2.5 bath, 1200 square feet, built in 1992. I now get to have my own garage, in which I can park my own allroad, and my own 1963 restored microbus (the fiance gets to park outside:))

Anyway, I am just really excited, figured I would let you guys know!

Just kidding...very nice area though...many more restaurants than Fairfield! ;)

Congrats on the new house...I really wanna lock our loan rate up now...but the builder is still > 90 days out...damn!

Since this is my first mortgage, the best rate we could do (with a decent credit score, and asset to liability ratio) was 6.1%. Since we are getting married in October we had very little time to save for a big down payment, so we had to do a 80/20.

I will get some pics snapped of the place before we move in (escrow scheduled to close on July 3rd). I am excited to park the allroad inside, and to keep the bus nice and cozy!!!

Get a new mortgage broker or call some banks. Even with "decent" credit (high 600s score?), you should be able to get in the mid-4s...

But, ARMs, yes.

We did get no points.....and we are good friends with both agents. Unfortunately, we had to go the joint route, and use both our credit scores. Which means we had to take the lowest credit score (650, fiance has a big student loan). the next tier (you need 660 to qualify) was in the mid 5's...but again, we couldn't qualify for that.

Either way, we are both very happy to be rid of paying rent and waistin our money.

I believe your rate exists. =)

fortunately the credit scores are both above 800...I don't think we'll stay in the house beyond 7 years...so the ARM is a pretty safe bet.

I feel like I may try to rent this place later on, so I want the long term rate security. Probably just stupid of me. =)