Okay, so I found a house, made an offer, and the proposition was official two weeks ago. That 's when we "entered escrow"?
So anyway, very soon the lender just call and said that the interest rate just go up on us. I am confused... are we buying a house or what?? What should we be asking... 1st time buyer... HELP!
Answers: This is not escrow related, you need to bring back your lender to lock your rate! You should have instructed him to do that awhile ago.
I hope you hold a buyer agent.
You did not lock your rate. Tell the loan officer that you want to lock your rate at a certain number; rates change day to daytime so don't worry that they fluctuated once. When it comes posterior down have them lock it within for 30-45 days.
Your rate is a process that goes alongside, but is not artificial by, the other aspects of the purchase such as contracts, title, etc.
Have your agent walk you through the steps.
You'll be fine. Good luck
When you first started dealing near the lender he could have locked surrounded by the interest rate. If your rate changed he either didn't lock or your lockout extent ran out.
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So anyway, very soon the lender just call and said that the interest rate just go up on us. I am confused... are we buying a house or what?? What should we be asking... 1st time buyer... HELP!
I be looking to buy a house within 2 years, but would it be better to do it very soon?
Answers: This is not escrow related, you need to bring back your lender to lock your rate! You should have instructed him to do that awhile ago.
I hope you hold a buyer agent.
You did not lock your rate. Tell the loan officer that you want to lock your rate at a certain number; rates change day to daytime so don't worry that they fluctuated once. When it comes posterior down have them lock it within for 30-45 days.
Your rate is a process that goes alongside, but is not artificial by, the other aspects of the purchase such as contracts, title, etc.
Have your agent walk you through the steps.
You'll be fine. Good luck
Where should i look to acquire a shared equity partnership?
When you first started dealing near the lender he could have locked surrounded by the interest rate. If your rate changed he either didn't lock or your lockout extent ran out.
Resolved Questions: