- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Mortgage Rates
Posted on 2/9/09 at 12:11 pm to 756
Posted on 2/9/09 at 12:11 pm to 756
756 its like this in my mind. and its differnt for everyone else. your DTI ratio can go up to 55% but do you want it there is the question. I can tell people how to spend there money but my house only its my DTI for 28% of my income. but everyone is different. Just make sure your monthly payment is something you can make and not stretch the bank account. and then make sure you get me to do your loan that way you get the best deal possible
2
Posted on 2/9/09 at 12:17 pm to bignate76
Thanks Nate. I may have incorrectly stated what I meant. By 80/10/10, I meant 80% primary mortgage, 10% secondary mortgage, and 10% down payment or 90% LTV. Does that make any difference or are the rates on those still very high (8% range)?
I know with PMI being deductible, these types of loans probably aren’t worth it anymore. I was just curious what was out there. Thanks again.
I know with PMI being deductible, these types of loans probably aren’t worth it anymore. I was just curious what was out there. Thanks again.
Posted on 2/9/09 at 2:49 pm to JustinTI
your right they are not worth it these days unless your loan amount is over 415k. PMI is determined by your credit score and your ltv. good part is you can equity out of it as i say after 2 yrs. meaning you pay down the balance under 80% or a combination of improved home value and payments
Posted on 2/9/09 at 3:25 pm to bignate76
nate,
here's a question: what the average cost of closing costs on a 165,000 house?
VA Loan.
here's a question: what the average cost of closing costs on a 165,000 house?
VA Loan.
Posted on 2/9/09 at 3:31 pm to TheDoc
Va loans are just like any other loans except they upfrom PMI payment. If its your first time is 2.25%. now that is financed in your loan but its still a closing cost. I your broker is charging 1% then you closing cost are going to be around 3% of the loan amount. there is no set closing cost amount per loan type or amount. just all depends on what the broker or bank charge.
Posted on 2/9/09 at 3:44 pm to bignate76
ok, closing was around 10,000.
3,000 of it went to the backend of the loan though, making the total 168,000
so 7,000 (like 6,956) for closing...
:gotme:
3,000 of it went to the backend of the loan though, making the total 168,000
so 7,000 (like 6,956) for closing...
:gotme:
Posted on 2/9/09 at 4:11 pm to TheDoc
how many points did he charge you in origination?
Posted on 2/9/09 at 4:12 pm to bignate76
Too many. 
Posted on 2/9/09 at 4:14 pm to bignate76
you cant help the back end. the back end is determined through rate. A broker doesnt get everyone on the back end. Most people no nothing about that unless your on this board and here me being honest. on 168k closing cost really depends on your prepaid items cost(insurance and taxes)
Posted on 2/9/09 at 8:43 pm to bignate76
I thought the magic dti was around 36%- I can pay down some debt but in this economy I don't want my cash to get too low
Posted on 2/10/09 at 12:33 am to 756
dont get caught up in that. 36% is a good number under 43% was standard for the industry for a long time
Posted on 2/10/09 at 11:09 am to bignate76
nate how do we contact you?
Posted on 2/10/09 at 11:10 am to 756
post your email address real quick
Posted on 2/10/09 at 11:24 am to bignate76
GO TIGERs!
This post was edited on 2/10/09 at 11:28 am
Posted on 2/10/09 at 11:25 am to 756
quote:
756
Nate will take care of you and point you in the right direction.
Posted on 2/10/09 at 11:27 am to Ziggy
take it down got it
Posted on 2/10/09 at 4:11 pm to bignate76
756 did i email you yesterday? i have been bombarded today and i cant remember sorry buddy.
Posted on 2/10/09 at 4:30 pm to bignate76
yep
Posted on 2/10/09 at 4:56 pm to 756
thanks man it gets hard to keep up.
Posted on 2/10/09 at 5:38 pm to bignate76
My broker just told me that underwriting is taking 30 days right now. My house will be finished next week and she is saying interesrt rates are going up. Do you need another customer? I'm in Thibodaux.
This post was edited on 2/10/09 at 5:49 pm
Page 3 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News