Obviously, the first mortgage broker was upset/angry and she told us that we would have to pay for various costs that were incurred.Ī week later, we received an invoice for the various costs. So, we decided to switch mortgage brokers about two weeks before we were scheduled to close on the new mortgage. We were sufficiently annoyed with her that my wife reached out to a different mortgage broker who was offering slightly lower interest rates and substantially lower closing costs. She was super slow to respond to our emails and many of our questions went unanswered. Our broker advised us against this for reasons that aren't entirely clear, but we persisted and requested that we proceed with getting a conventional mortgage.įrom that point on, something seemed amiss with the mortgage broker. So, we basically kept our construction loan beyond the duration of the construction period, hoping that mortgage rates would decline and we could get a better price.Īnyway, a couple of months ago, there was a brief dip in mortgage rates and we decided that we wanted to get a mortgage. As you might realize, mortgage rates have increased significantly between May 2022 and the present time. Once the home was built, we needed to get a conventional mortgage and we kept working with the same mortgage broker.

The construction loan was obtained in May/June 2022. So, she contacted a mortgage broker that she knew and this mortgage broker helped us obtain a construction loan. About 18 months ago, my wife decided that she wanted to build a house.

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