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We got approved!!!

December 9th, 2008 at 10:29 pm

After my day long rant about getting rejected for a mortgage...bank #2 just sent me a commitment letter for $140,000 @ 6.5 interest rate!! It came out of the blue, suddenly I have an email in all kinds of legal-ese with 16 (16!!) attached documents for me to sign!

Seems my own argument against their first rejection was well stated. I triumphed!!

Now I gotta work on this 6.5% interest rate. That sucks. They think I cant afford the payments so they tack on a higher rate to make it more unaffordable!

Anyways, my head is spinning. BB is at work and doesnt know any of this yet. I had already divorced myself from the idea of home ownership so suddenly seeing seeing 16 documents to sift through is overwhelming.

I need to take a day to decompress.

Thanks for all your support though...it helped me feel better about the rejections...
....but being accepted FEELS SO MUCH BETTER!!

17 Responses to “We got approved!!!”

  1. mom-sense Says:


    I feel lucky to be the first to respond to the post. CONGRATULATIONS! Homeownership achieved?! Good luck with the 16 attachments. You should be an attorney; you seemed to have made a very compelling argument for your point! WELL DONE!

  2. Ms. Pearl Says:

    congrats!

  3. Nika Says:

    CONGRATS!!!

  4. gamecock43 Says:

    yeah!! Hurdle #1 complete!!

  5. whitestripe Says:

    congratulations! well done!
    may i say, in australia 6.5% sounds great lol. but i know it's different over there. you should try and get it a bit lower if you can.

  6. Caoineag Says:

    congrats!!

  7. merch Says:

    Confrats!!! Now work on that interest rate. Good luck.

  8. NJDebbie Says:

    Good idea to work on that 6.5%. CONGRATS!!!!

  9. monkeymama Says:

    Congrats!

    It was another time, but our first rate was 8.25%. So, 6.5% ain't half bad!

    Also, if my comments (last post) were on the right track, it could be easier to refi. Or you can just refi when your income goes up. Either way... IT's a foot in the door - woohoo.

  10. SnoopyCool Says:

    Hooray! Congratulations!!

  11. homebody Says:

    Yes you can refinance down the line. Congratuations. Wonderful news!

  12. scfr Says:

    Great news --- Good luck with the rate! Maybe you can contact a different lender to give you a better rate now that one has approved you?

  13. frugaltexan75 Says:

    Yay! What a grand feeling! May it go smoothly and with few hassles from this point on . . . Smile

  14. creditcardfree Says:

    Congratulations!!

  15. Broken Arrow Says:

    Congrats! Glad to hear it!

  16. Ima saver Says:

    That is wonderful. I am so happy for you!!

  17. Analise Says:

    Congratulations! Your perseverance paid off.

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