Tuesday, March 27, 2007
Buying a house
Hello everyone! I'm on spring break and headed up to Rochester to go house hunting. I used Therese Dutton (as mentioned in a previous post) as my realtor through Edina Realty and was very pleased. She's very knowledgable about the area and has dealt with many residents in home buying. She walked us through every step of the process making us confident in our decision of buying a home. As for the mortgage, I priced out a couple of lenders and ended up going with Eagle Crest Med City Loan. Their program was the best for my situation. Therese can be reached at (507)529-6156 and Bob Baudhuin, VP @ Eagle Crest can be reached at (507)280-7254. I can't wait to move in.
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3 comments:
Jason - you came up to Rochester and during spring break (what, a week?) and closed on a house? If so, I'm impressed! Can you find a house for me?
By the way, did you interview in at Mayo on December 22nd?
Actually, I came up with renting in mind, but 4 days later bought a house. Therese did an excellent job listening to our wants and showed us 15 properties in one day. If we didn't find anything, she would have showed us more. She lost a weekend and much sleep when we came up, but we found the perfect house for the next several years. And yes, I did interview on the 22nd and talked to you.
For anyone interested, Eagle Crest offers 3, 5, and 7 year ARMs which will lock your rate for the respective number of years. I locked in a rate of 5.625% with a 1% origination fee that bought down the rate from 6.35% to the 5.625%. You are paying on principal and interest, so equity is being built. The other lender we talked to wanted to do a 75/25 loan with higher rates and interest only. The monthly payment was still higher. I am very happy with Eagle Crest and would recommend calling Bob as mentioned in my original post.
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