Financing Our New Home

We’re almost in the new house.  I have been dreading the mortgage process after hearing how much more difficult this has become in the last couple of years.  Honestly, I thought it would be far worse than it has been.  Documentation requirements have gone up, but we weren’t asked for anything unreasonable.  It was in our best interest to get everything over to the mortgage company in a matter of hours so they could start the underwriting process as soon as possible so we could move in as soon as possible.  Knowing this, my husband and I spent a couple of hours pre-finding things we thought we’d need, like paystubs, w-2’s and our tax return so we’d be prepared with the basics before every speaking with our loan consultant.  Luckily we didn’t need much more than that with most of the other necessary documentation revolving around the sale of our house. 

We locked our rate- at an awesomely low rate.   Got to love that about today’s interest rates.  Its amazing.  This house is roughly the same price as our last house, but our interest rate will be 2+% lower, meaning our monthly payment is way lower, for a house that’s over twice as large. 

I’m just so glad its all working out without many hitches so far (knock on wood!). 

What about you- any luck refinancing or locking in today’s such low rates and lowering your payment?  Anyone else agree that the loan process isn’t nearly as bad as feared?