Okay, so technically we didn't do anything - but we officially locked ourselves in at 4.25%!!!!! OMG, OMG, OMG! That is 2% less than what our first mortgage was at, and it makes or mortgage payment sooo much lower than previously calculated at the original 5%. Now I could dwell on how we should have taken full closing costs rather than locking in our rate right away, but I am SO HAPPY that we got the 4.25%!
When the lender called me she initially stated 4.5% was the best she could do, but since i've been doing my due diligence in the matter I got her to come down to 4.25%. The only think we have to do is bring an additional 1% of our mortgage to the table on August 3rd. It's fine by me! BIG savings, huge, actually.
Can you tell I'm completely excited right now? I am so incredibly happy!!! :)
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