What now?

[Shannon Marie]

Ok. Maybe Bex or someone can help me out here.

1) What is a good way to lower the price of a house? I'm so not good at hose kind of things. So any negotiating tips?

2) my letter from usaa says "your interest rate is not locked in and is subject to change" does this mean it is an ARM? Or the fixed rate can change while we're still looking etc and when it comes down to actual signing the current rate will be fixed?

That's all for now.....

[monkeyinabarrel]

If they find any repairs during the inspection, or if it has been on the market awhile, --- put in a lower offer and see what happens. did you find one you like?

[Shannon Marie]

Originally Posted by monkeyinabarrel If they find any repairs during the inspection, or if it has been on the market awhile, --- put in a lower offer and see what happens. did you find one you like?

yeah i had one in mind when we did the pre-approval deal but didn't think we'd get enough. lucky for us, we did! we do a walk through monday.

[monkeyinabarrel]

awesome that is so exciting

[John@USAA]

Hello Shannon Marie, this is Kim from USAA’s mortgage department. Regarding your question, there a couple of reasons your interest rate isn’t locked in. If you’ll call (800) 531-1449, a mortgage professional can review your account and explain in detail. In the meantime, here’s a quick summary of how this works. 1) If you have a pre-approval, you cannot lock in your interest rate until you have chosen a property. 2) If you have selected a property, and you submitted a mortgage application, then the option to lock in was made to you during the application process, and you may have opted not to lock in. You must lock in 7 days before closing, or anytime before that by calling us.

Note that neither of these situations means you have an ARM or a Fixed Rate loan, it just means that until you select a property, and choose to lock in, rates are subject to current market rates.

- John Hancock, USAA Corporate Communications, on behalf of Kim