yupper its a keeper rate good job.

U should definitely feel confident about the decision to buy a house. the rate you have is in line with the current rates on a 30yr. check out bankrate.com they have some good information on basic mortgage terminology and finances, etc. I started there when we were looking to buy. You should look into the fees associated with the loan as well. This can be $0 to several thousand dollars due at signing. I hate Bank of America but they are offering a No Fees mortgage. don’t know the qualifications though.

not a bad rate. consider buying the rate down if you dont plan to refinance and stay in the home for a long time this small amount you will pay wil save you a boat loan of money.

pay 1.5% to buy the rate down. .75% it will give you a rate of 5.40

200,000 with the rate bought down to 5.40

200000X.0750=1500 per year
1500 X 30 years = $45,000 this is the added interest you save by buying the rate down and you well know interest is payed up front so the first 10 years you pay mostly interest.
if you took what it is saving you 125.00 per month and sent an additional check of 125 marked apply to principle your mortgage would be paid off in 24 years and

Date (#Months) Payment Towards Principal Towards Interest Remaining Amount

Year 1 2007-09 (#001) $1,248.06 $348.06 $900.00 ($900.00) $199,651.94
Year 5 2011-09 (#049) $1,248.06 $431.77 $816.29 ($42,121.22) $180,966.28
Year 10 2016-09 (#109) $1,248.06 $565.26 $682.80 ($87,206.78) $151,168.24
Year 15 2021-09 (#169) $1,248.06 $740.02 $508.04 ($123,079.69) $112,157.55
Year 20 2026-09 (#229) $1,248.06 $968.81 $279.25 ($146,891.53) $61,085.79
Year 24 2030-09 (#277) $1,248.06 $1,201.82 $46.24 ($154,787.41) $9,074.79
2031-05 (#285) $511.58 $509.29 $2.29 ($154,960.62) $0.00

It’s a decent rate, but you shouldn’t buy a home if you’re not any more educated than you seem. The buying process is a pain in the rear, so you’d better make sure your real estate agent is awesome and steps you through the process, explaining everything as you go – or you’re going to wind up feeling like you just bent over and took it up the rear.