60 Day Lock

I made my 60 day interest rate lock last week and I'm very happy.  I originally planned on using my negotiated points toward lowering the mortgage rate down to 4%.  But I was able to lock in at 3.75% without using points.  I would have liked to lower the rate even further with my points, but NVR said this was as low as they would go; so the bonus is that I get to use my points to lower closing costs.  That's about 1.5K savings for me which really helps out.  With the lower rate, and points toward closing costs, I'm able to wrap my closing costs into the mortgage and keep the monthly rate at what was first estimated.  That gives me an extra $4,500 to keep in the bank as a cushion, or for a nice deck/patio, or even a future finished basement!