Signed Contract on a Home

Charlie3 · Post by **Charlie3** » Thu Mar 02, 2006 7:25 pm

http://webapps2.planetrealtor.com/idx/pkg_IDX.pr_ViewIDXProperty?sStateID=FL&sRealtorID=&sUserType=S&sMLSID=midfl&sMLSListingID=P4589252&sSearchSource=X&sTrackNum=&sOnlyCities=T&sSearchID=&sClientID=&sSavedSearchType=&sLangCode=ENGLISH&sSubSystemCode=&sRunSearch=F

$130k 3/2 home in a great neighborhood.

Keeping my fingers crossed...

Post by **Sniper62** » Thu Mar 02, 2006 9:13 pm

sounds nice, almost like my house...mines bigger

Mako · Post by **Mako** » Thu Mar 02, 2006 9:34 pm

man ur lucky with those property taxes. we're through the roof in the puget sound region. $2500+

Tzulscha · Post by **Tzulscha** » Thu Mar 02, 2006 9:49 pm

You obviously have too much money Charlie!

Didn't I hear you say you worked for the Salvation Army?

Hmmmm....

Post by **Sniper62** » Thu Mar 02, 2006 10:45 pm

Tzulscha wrote:You obviously have too much money Charlie!

Didn't I hear you say you worked for the Salvation Army?

Hmmmm....

lmao!

Charlie3 · Post by **Charlie3** » Fri Mar 03, 2006 12:02 am

Yea I took a heck of a pay cut from my last job of investigating child abuse for the state... but this job is totally up my alley.

Tonnya got a job at Wal-Mart and together we will be scraping pennies together to make this work but I'm pretty sure we can.

I'll have a better answer tommorrow.

Bundyrum · Post by **Bundyrum** » Fri Mar 03, 2006 2:59 am

What is in this years lingerie collection at walmart??????????????? :twisted:

FuelPump · Post by **FuelPump** » Fri Mar 03, 2006 5:54 am

Good one Charlie!

Remarks:
PERFECT FOR STARTING UP OR SLOWING DOWN.

Which one best sums you up?

Charlie3 · Post by **Charlie3** » Fri Mar 03, 2006 8:56 am

I'm still young - we are just getting started.

Oh and Snipet before you go off on that meh house is bigger than yours shat... go ahead and ask yourself how much of that mortgage payment is coming out of your wallet. :lol:

If we end up closing, I'll post some pics. Really nice house. Tile throughout the home, brand new appliances, big ass word fort thing for Cory, irrigation, huge kitchen, huge master bedroom with a ton of closet space... hope this works out.

Post by **Sniper62** » Fri Mar 03, 2006 10:45 am

Charlie3 wrote:Tonnya got a job at Wal-Mart

eeeeeee i work there too!! :lol:

good point about the morgage lol

Charlie3 · Post by **Charlie3** » Fri Mar 03, 2006 11:41 am

Just signed and initialed the seller's disclosure statement... septic system drains sluggishly disclosed. Ewww scary! Not a deal breaker for us tho.

Two other offers were put on this home (it just went on the market yesterday and there have been three f'n offers) albeit we were the first to make an offer.

Tonnya and I just talked on the phone and she is nevous as shat!

She said she is going to call the owners and beg them to sell it to us! :lol:

BigMex73 · Post by **BigMex73** » Fri Mar 03, 2006 11:51 am

I just rented a 2 Bedroom house for $1750/month and that is below market value. If i bought a cheap house in my area it would be $500,000, I envy your position. Good Luck, I hope you get that house. S!

Post by **Sniper62** » Fri Mar 03, 2006 12:03 pm

Charlie3 wrote:Tonnya and I just talked on the phone and she is nevous as shat!

She said she is going to call the owners and beg them to sell it to us!

just send the owners some nudy pix of tonnya and the house will be urs at the end of the day

oh ya and post em here first so we can approve them :lol:

Main4ce · Post by **Main4ce** » Fri Mar 03, 2006 12:48 pm

Sounds great Charlie, you would even get a garden shed for that money here, in fact you wouldn't even get the Lot (ground).

wishing you Luck!

Mako · Post by **Mako** » Fri Mar 03, 2006 6:53 pm

Charlie you might want to look at FHA for financing. FHA programs got a major overhaul for 2006. Everything has been streamlined and many of the strict guidelines have been removed. If your talking to a broker they will stear you away from FHA because its more time consuming and not as profitable for them.

I'd recommend going directly to one of the larger banks in your area and having one of their home mortgage representatives take a look at your senario and see if they can work up an FHA program for you. Going straight to a lender greatly reduces your closing costs too loan officers at a bank are paid mostly on total loan volume where as mortgage brokers make their money off of the closing costs and boosting the rate.

If a broker shows you some low closing costs its because they've probably boosted the rate a lot. We are on a wholesale rate matrix with the banks so basically we will be quoted a much lower rate by the bank than a regular consumer. By boosting an interest rate .5% the bank we broker the loan through gives us 1% of the total loan amount. Ex.

I call around and find the lowest rate at bank X, lets say 6.5% on a 30 yr fixed. I ask X bank what is the add to get 2 points back? They say 1%. So I get paid 2% of the total loan amount by bank X if I sell you that 30 yr fixed at 7.5% if say its a 200,000 loan thats $4000 the bank pays me.

LO's at a bank get paid a % off of the total volume of loans they sell each month so they are more apt to getting you the best deal because their driven by volume not closing costs for their paycheck.

Countrywide and Wells Fargo are the top dogs in the nation at this time in retail lending.

Mortgage brokers are usually the way to go when your refinancing but when buying I recommend going straight to a bank.