Got Preapproved
Jan. 2nd, 2002 01:39 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
demarianaWooHoo. Just got a phone call from a mortgage company that I had called last week. We are preapproved for refinancing the house! When we got this house we didnt have ANY money to put down. We had to go with an unconventional lender and get 2 loans, 80/20. We knew the rates were NOT the greatest, but we wanted into a house. We also knew we had the ability to deal with the higher rates for 6-12 months until we could refinance. That time has come. I am EXCITED. We have approved with a conventional lender now, and at a MUCH lower rate. It will save us about $100/month even with having to take out more because of prepayment fees and other fees added into the loan. The only sticking point is what the house will have to appraise at. I think it is doable though. This area of town has go up alittle bit and we have the start of the additional room. *fingers and toes are crossed*
