Wednesday, March 27, 2013

Waterproofing and Financing Update

March 26 - We received an e-mail from our loan officer, Gary, with a breakdown of all of the costs, the APR, mortgage rate, and the Truth in Lending statement.  It was a little shocking because it appears that interest rates have been on a steady increase.  We started off at a very, very excellent rate.  Then, it appears the rate has increased by a few points.  Still very much affordable, but it looks like we will pay down the interest points to save money in the long run.  There is still a chance that the interest rates will drop, but we will see.

Up, up and away are the mortgage rates.
March 27 - We traveled back to the site to see what progress had been made in the last two days.  Drew told us that the plumber was going to be doing work today.  So, we did not know whether there would be much to see.  A plumber a plumbin' we supposed.  However, when we arrived at the site we were quite pleased.  The plumber had been quite busy bringing all of the main water and sewage lines into the house, but the waterproofing process for the basement had already begun.

That pipe is new!  
Some of the walls have been waterproofed.
A look inside of the storage room now with the makings of drainage.
Mystery room below the garage or stairwell has been waterproofed on the inside.
Well, all of the progress makes us want to quote those modern philosophers, the Muppets:


  1. Always nice to see progress! We've avoided checking rates once we noticed the upward trend. We did talk about paying points for a lower rate, especially since we look at this as our "forever" home, or at least 10+ years home.

    1. It looks like we may all have to do that. We still have another month until we can lock in the rate. So, that is enough time to let rates fall a little or continue to rise (more likely). But, we look at it as a forever home as well. So, paying points may be our only option.