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worried about stupid things

January 9th, 2009 at 07:13 am

I was awake all night last night worrying about this impending home purchase.

My Realtor has been asking me if we are on schedule for a Jan 20th closing...and everyday I email my lender who replies that the application is still in "underwriting and maybe he will have an answer for me tomorrow."

Then, I don't know exactly how much we will need to put down or what our interest rate will be. Is that crazy? Talking to my lender before negotiations for the home started, we had several discussions about what down payment amount will probably get us approved...and settled on an amount he liked and sent us a pre-approval letter. When asked what interest rate we could get he emailed back "probably under 5.5%." So besides having no clue what the interest rate will be, meaning I cant predict my mortgage bill- I have started wondering if "underwriting" will come back and say they want MORE down than what was estimated.

Maybe it sounds irresponsible but BB and I have almost EXACTLY the amount of money needed for movers, the banks "estimated" closing costs, and the down payment. We will both get another paycheck in 1 week after closing to alleviate the burden of having basically zero balance in our account, but I am just freaking out that at the closing table they will give me a bill for a grand or two over what was expected.

And I keep wondering if we are paying too much for the house. Sounds silly- but in this down market where houses depreciate every month I now wonder if we couldnt have eeked a few grand out of the final price.

And I have had many items in storage for so long I was up all night trying to remember where the screws to my trundle bed are; "if I never find the screws to put it together will Lowes have screws to fit but look nice? Can screws be painted?" (my bed frame is white). "Do I even have any sheets to fit a twin bed? Maybe I should buy some now- but what color? What color will we paint the guest bedroom- does it matter what color because they are sheets?" "Do we bring our shower curtain and floor mat from here even though I think Maroon is too heavy a color for a bathroom? The floor mat is pretty worn out, but the shower curtain was very pricey and I remember all bath stuff being rather expensive-maybe bring it for the first week till we get our paychecks and then I can go to the store and get new stuff."....you see! I was worrying about insane things! I was up till after 4am! I cant go another night of that!

9 Responses to “worried about stupid things”

  1. merch Says:

    Wow!!! Buying a house is very stressful especially with loose ends and a closing date coming up. You have to look at things as things you can control and things you can't.

    You can't control the housing market. Was this house a good deal? At the time you made the decision with all the information you had, the answer was yes. Could houses go down further, yes.

    What I am trying to say is that I think you are over analyzing the situation. You bought a great house at a great price with great financing. There will always be better deals and you will never get the best deal.

    I don't want to come off as mean or insensitive. I just think you need to take a deep breath and maybe a relaxing bath.

    I'm in the middle of refinancing now. They told me that banks a re swamped and new home purchases are the priority. My refinance could take 3 weeks. Also, the market is very volatile. I'm looking at a 15 year and early this week it was 4.25 and then shot up to 5.125. The financing will settle itself over next week, you'll get a great rate, and it will be locked in. Just keep on stressing to your mortgage broker that you are closing on the 20th and need everything locked up.

    Good luck!!

  2. gamecock43 Says:

    Thanks Merch! I knew I was over reacting and that this was all normal business. Just like you say "I might get a deal but never the best deal" (paraphrasing), I was all caught up in drama because my friends were worrying me with mortgage process problems like "what is taking so long, you should have an answer by now; my house was finished in a week.", and "The buyers of my house didn't find out till the day before closing that their financing fell through and it prevented them from buying our house." ...and so I worry. But every process is unique and I did everything I could- its out of my hands.

  3. mom-sense Says:

    Don't worry - the perseveration is totally normal. We were buying our second house and I was literally up for several hours worrying about how we could possibly close because our closing date was set for MLK Day and I thought for sure the banks were going to be closed. And I already had my brother lawyer set up and I worried about how I would be able to get to the bank to get the exact amount of the cashier's check we needed. It all worked out, and I don't remember if we changed the closing date or not. Good luck! It will all work out!

  4. CouponAddict Says:

    I cant offer any advice on how long things should take as we had our home custom built, so we were actually waiting on the house to get finished to close.

    Just take all this pent up energy and us it to pack your current home and or clean. Once the excitement/stress wears off you are going to be looking at all those boxes to unpack and be wishing you had the energy you have now.

  5. Koppur Says:

    I'm sorry you're stressing. I have to say that I don't really have any advice on how to handle it all. Just keep remembering how much you love the house.

  6. gruntina Says:

    While I never purchased a house myself or went through the home buying process (hubby had his house long before I met him), I know my hubby and several friends all say that the first year of home buying was so stressful. Many of them claim they didn't have money to eat for the year and had some help because of so many surprising costs associated with the home purchase. They also looked back and laugh and considered it all about the home buying purchase. They all still have their homes and doing pretty swell. It might be crazy but try to laugh during those moments! This kind of craziness just might what bee needed to get you to achieve your dreams.

  7. Myrtle Says:

    Oh Gamecock, here's a little hug for you. I'm sure everything will be okay. Just take a deep breath and try to relax. For some reason we all do the same thing, worry and fret, and then everything starts falling in place. It will be all right!! Take care.

  8. pearlieq Says:

    There's about a 99.5% chance Lowes will have the right size/shape screws, and you can get a nice low profile flat headed kind that blend right in. They can definitely be painted.

    Or you can call the manufacturer of the bed. They would probably send you another set of screws--maybe even for free.

    A nice neutral color for the sheets (ivory, gray, cafe au lait) will match any wall color and look simple and elegant.

    Treat yourself to a new bath mat, but hang on to the shower curtain. You won't know until you hang it up whether it's too dark for the room, and you can always lighten it up by keeping everything else (paint, towels, rugs) light in color. Even if it doesn't work out, it's nice to have a backup in case your new one gets dirty or torn.

    Now get some sleep!!!

    Good luck with everything!

  9. homebody Says:

    I waited until we actually moved into the house to stay up all night and stress. I was almost 9 months pregnant at the time and literally stayed up all night doing and redoing the budget to make sure we could make our payment. Hang in there!

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