I think I found my new house... in 4 months.

We may earn a small commission from affiliate links and paid advertisements. Terms

I just remembered that Driftspeed owes me 490 dollars. Along with my savings I'll have an easy grand to put down on the mortgage. Might not be a whole lot, but it's better than 0 down.

PS B's credit has nothing to do with me getting a home. Everything will be to me in my name and I'll lease to him.
 
Last edited:
2000Si said:
I just remembered that Driftspeed owes me 490 dollars. Along with my savings I'll have an easy grand to put down on the mortgage. Might not be a whole lot, but it's better than 0 down.

PS B's credit has nothing to do with me getting a home. Everything will be to me in my name and I'll lease to him.
Click to expand...

Only having 1 G to put down, you'd be better off setting that aside for back up cash.
It wont help you on your rate and will only save you a couple dollars a month.
unless you have 20% to put down, its most of the time better to save the cash for other uses. Investing comes to mind. Some account that you can easily pull from if you need it.
 
Houselayout.jpg



Your house IS the house from AquaTeen Hunger Force.

040715_summerShows_hmed_12p.hmedium.jpg


See the kitchen in the back ? Down the hall, first bedroom is Shakes, second bedroom is Meatwads, and the bedroom opposite is Frylocks. Watch the show, you'll see it.


Also, You're Shake. And Brian is Carl.
 
jeffie7 said:
Only having 1 G to put down, you'd be better off setting that aside for back up cash.
It wont help you on your rate and will only save you a couple dollars a month.
unless you have 20% to put down, its most of the time better to save the cash for other uses. Investing comes to mind. Some account that you can easily pull from if you need it.
Click to expand...

Investing comes later on in my life.

I'll bet you I can get a raise if I can convince my dad of how set I am on this.


Celerity said:
Houselayout.jpg



Your house IS the house from AquaTeen Hunger Force.

040715_summerShows_hmed_12p.hmedium.jpg


See the kitchen in the back ? Down the hall, first bedroom is Shakes, second bedroom is Meatwads, and the bedroom opposite is Frylocks. Watch the show, you'll see it.


Also, You're Shake. And Brian is Carl.
Click to expand...

LMAO!! Only difference is the kitchen is more open in ATHFs house.

pissedoffsol said:
agreed... your closing costs will be more than that...
Click to expand...

Coming from my friend, and from the mortgage company I've talked to. 99% of the time for first time home buyers, closing costs are covered by the mortgage company here. My friends closing cost was 2k paid for by the mortgage company. My luck will be I'm in that 1% though.
 
lol

there is no way in fucking hell that any company is going to eat your costs.

you pay for the lawyers, the titles/paperwork/city documentation, and all kinds of other crap.
 
you might have to eat your words B. I'm a perfect example of the mortgage company covering everything. I actually got a check for $6 at my closing. Wachovia allowed me to have my own lawyer rep the bank, seller and buyer. When we sat down for the closing my lawyer thought is was a mistake but everything was noted *POC (paid outside of closing) or some shit like that, they paid title insurance,town/city document filing fees etc... My lawyer was so happy he didn't even charge me anything because he was able to rep the bank and they paid all the lawyer fees for all parties involved in the transaction.

I have a feeling it was because wachovia delayed the closing dat by almost 6 weeks because of aprasal issues, due to records at the local town hall not being up to date etc.. in any case.

Long story short, I bought my first house without any cash down, no pmi, and no closing costs.
 
pissedoffsol said:
lol

there is no way in fucking hell that any company is going to eat your costs.

you pay for the lawyers, the titles/paperwork/city documentation, and all kinds of other crap.
Click to expand...

Lawyer, sure. Closing costs? Maybe. Probably not though.


Title? you mean deed, right? You and jeffie can't stand that things might be taken care of differently someplace else, can you? ;)
 
i'm not like jeffie... i could care less if you don't pay up front for it.

.01% more on a mortgage rate is way more than the closing costs will be anyway.

they will get their money from you, one way or another.
 
duh? paying two grand for the closing costs is nothing for them if they're getting 82.5k+ interest off of it.
 
i have nothing useful to add.
just wanted to say that that would be a 300k house where i live.

which is why i cant afford to buy one.
 
2000Si said:
duh? paying two grand for the closing costs is nothing for them if they're getting 82.5k+ interest off of it.
Click to expand...

Depends on the people selling the house.

My instructor is selling off a $600K lot, the person buying it because they thought a $2000.00 tractor was part of the deal, even though clearly it wasn't in the contract and never on paper anywhere.

what's another 2K when you're putting down 600K?..... depends on who you are.

If the house is sitting you can work out deals with the sellers to cover closing cost, or to lower the asking price enough to make it so lowered price + closing = asking price.

I offered 185K on a town house 2 years ago, I was going to pay full closing cost, the guy said he'd take $186K I told him no thanks and walked away.

Some people.....

anywho 80K with no tax, hoa, insurance would be $492 VS $486 for 79K

You're talking 6 dollars difference a month. I'd keep that 1G in hand, you never know when you might need it.
 
I was talking about the mortgage company paying the closing costs.

Home owners insurance for 100k would be around 20 a month. Which means it only adds 12 to my renters insurance. 8 years with one insurance company helps, a lot.

edit: it'd actually be around 28 dollars...
 
I was talking about the mortgage company paying the closing costs.
Click to expand...

That will never happen, That's like asking a dealership to give you 10K for a car that's worth 6K they'll do it but by screwing you else where.

They wont pay anything. you pay them.
 
You don't pay a whole hell of a lot of attention to things I've said prior to this, do you?

A mortgage company gives you a loan for $82.5k which you're going to pay back to them plus interest, and you don't think they'll upfront 2 grand to make the loan work?

You haven't ever lived here, have you? My friends 85k house loan went through. the company cut him a check for 3k to pay all that.

Listen to me for a change. Sometimes you don't know it all.
 
2000Si said:
You don't pay a whole hell of a lot of attention to things I've said prior to this, do you?

A mortgage company gives you a loan for $82.5k which you're going to pay back to them plus interest, and you don't think they'll upfront 2 grand to make the loan work?

You haven't ever lived here, have you? My friends 85k house loan went through. the company cut him a check for 3k to pay all that.

Listen to me for a change. Sometimes you don't know it all.
Click to expand...

But they don't give you the money, you're going to finance it one way or another.
 
*sigh* Ok, God... You're right and my friend, who owns his own house, doesn't know what he's talking about.

Don't you rent a townhouse or something? Have you ever actually had a mortgage in your name?

My apologies, God. Please forgive me.
 
jeffie7 said:
But they don't give you the money, you're going to finance it one way or another.
Click to expand...

Did anyone bother to read my post at all. Applied for a loan of $140k, My interest rate is 5.25% also, The mortgage comapny which was a bank paid all closing cost. They paid all lawyers fees/title insurance etc.... , and to note I live in the same state as 2000Si
 
You must log in or register to reply here.
Back
Top