Mortgage refinance complete

Yeah!!! Our mortgage refinance is complete

We’ve been anticipating our refinance for a month plus now, so we are very excited to have this goal completed. Refinancing has taken a lot of diligence, but it’s worth it. One interesting difference between now and our last home purchase was that the IRS is clearly auditing, our mortgage lender Home Street made the honest typo of listing our address as SE instead of NE. The mistake triggered an inquiry from the IRS, and it had to be fixed before we could sign. Personally, I didn’t mind the inconvenience and I appreciate that there is more due diligence lending taking place now.

Given the mortgage atmosphere, we were cautiously optimistic about the whole process. Hubby didn’t want me to share anything until we had locked the rate, and even then we were holding our breath to make sure that the appraisal went through.

The appraisal did turn out to be a bit of a disappointment, not surprisingly, our house is not what it was worth when we bought it two years ago. But neither of us dwelt on that fact, and decided instead to focus on the long term investment. We never expected to get rich quick; we just wanted a home to raise our family and live our lives. 

It turns out that we needed to bring $3k+ cash-to-close, but at least now we don’t have a payment until March. Like I justified to Hubby, we’ll be able to save the difference in a few months, so it’s worth dipping into our emergency fund. 

Now that it’s a reality, we’ll be able to starting planning the savings in our family finances. Once our emergency fund is repaid, we’ll create a fund for home improvement/maintenance. Then we are planning to begin saving for our dream of buying property on the coast and building small eco-friendly cottages!  

What would your family do with extra savings?

Sustainable Family Finances 
The story of a family creating an abundant and sustainable life.

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