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Just bought my interest rate down from 3.75% to 3.5%. Gonna be a difference of almost $100/mo for the mortgage. 
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I encourage everyone to appeal their property taxes, I did mine and got it lowered it by $1000 per year
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I actually just heard about appealing it this week and how much you can save
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Yeah man do it. Especially with the areas that have not fully recovered.
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anyone here have experience or knowledge about CalPath? or any other home loans for public employees?
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I believe this would be state specific.
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crcballer55
or anyoneany knowledge on Broker's Price Opinion with entry? trying to get this PMI removed.
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- 4,900
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Congrats
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Congrats
Thank you.
Ended up with $1030/mo as my monthly mortgage payment including my title insurance. 3.5% fixed interest rate.
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aepps20
Supporter
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Congrats my dude.
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Question for you guys that either just bought a home, or wanting to buy a home (first time home buyers).
What are your biggest questions and concerns with buying a house? What, if anything, was preventing you from buying a house earlier?
What are your biggest questions and concerns with buying a house? What, if anything, was preventing you from buying a house earlier?
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For me the down payment was a major issue. I think a lot of people have a hard time saving enough to a put down for a property. There are programs that help but its a lot of info and it can be overwhelming.
My only other concern was potential for another housing crash but i got past that.
My only other concern was potential for another housing crash but i got past that.
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I think mine is price and location. I'm fine with saving up to get a down payment. At the moment I can probably put down 10k fcash or a down payment. That's 5% for a 200k home which I think is doable. The monthly costs (mortgage, pmi, tax, fees) comes out to about what I pay now for renting so that's manageable.
I'd prefer to live within 30 minutes of work. My current job location has homes nearby at that price and cheaper, but my job is located way too far from the urban core of the city for me to want to live there permanently.
If I try to find middle ground between city and work, the prices of homes raise to 350-400k+ for new constructions. Older homes in decent neighborhoods between the two are still in the 200k range, but we're talking 50+ year old homes with smaller living spaces.
There are newer homes being built in my price range popping up along the route and other parts of the city, but these are just one-offs. Someone buys a random plot of land and builds a home, however, neighbors on both sides are rundown shacks or used tire shops.
At this point, I'd either have to get a job closer to the city and buy a home nearby, or get married and we buy a home together.
I'd prefer to live within 30 minutes of work. My current job location has homes nearby at that price and cheaper, but my job is located way too far from the urban core of the city for me to want to live there permanently.
If I try to find middle ground between city and work, the prices of homes raise to 350-400k+ for new constructions. Older homes in decent neighborhoods between the two are still in the 200k range, but we're talking 50+ year old homes with smaller living spaces.
There are newer homes being built in my price range popping up along the route and other parts of the city, but these are just one-offs. Someone buys a random plot of land and builds a home, however, neighbors on both sides are rundown shacks or used tire shops.
At this point, I'd either have to get a job closer to the city and buy a home nearby, or get married and we buy a home together.
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1. Saving for Downpayment, and closing cost
2. Finding a home condo/townhouse that is affordable and not in a terrible neighborhood
3. A reliable realtor
4. Housing boom in the bay area, been really difficult and with HOA's going up consistently (probably the same as 2)
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How long has this 97 loan to value product been going on though? I got some spammy email about it that wasn't actually spam though. Said no income requirements, only needed a 650 Fico score and that one of the borrowers must be a first time homeowner. Looks like there's articles dated all the way back to last December about this particular product.
lightweight champion
Banned
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The credit union I work for does 100% financing but you have to be a first time buyer with a 720 Fico score.
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Im with 3 different credit unions. would you mind sharing which one you work for?
We can take it to the pm if needed.
Thanks
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NASA Federal and Navy Federal offer 100% financed loans, but understand that you will be paying more points and a higher interest rate.
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Scratch that lol,
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Lot of good info in this thread.
As a realtor, I want to inform any potential buyers/sellers here of the new TRID lending conditions that just went into effect. I just dealt with a pretty major fiasco due to my buyers lender telling us just before close of escrow that he needed an extra 2 weeks to clear conditions. Needless to say the seller wasn't very happy. Link : http://www.inman.com/2015/06/24/3-ways-trid-will-impact-your-real-estate-business/
As a realtor, I want to inform any potential buyers/sellers here of the new TRID lending conditions that just went into effect. I just dealt with a pretty major fiasco due to my buyers lender telling us just before close of escrow that he needed an extra 2 weeks to clear conditions. Needless to say the seller wasn't very happy. Link : http://www.inman.com/2015/06/24/3-ways-trid-will-impact-your-real-estate-business/
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? For you guys does the shortcut for gifting money work ?
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What shortcut for gifting money?
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"Creating a paper trail correctly has proven to have its fair share of hassles. Getting copies of transactions is time-consuming, and underwriters seem to question every little thing in the process (“where exactly did the $10,000 transfer that I see coming into mom and dad’s account come from?”).
The good news is that there’s a shortcut when it comes to gift letters — one that makes the entire process easier.
Simply add one sentence to the letter that says: “Will wire the gift directly to escrow at time of closing.”
If you add this line to your gift letter, you can avoid all of the paper chasing that most underwriters will require. A day or two before closing, you can get wiring instructions from your escrow agent for mom and dad to wire the exact amount of the gift directly to the escrow company working on your transaction."
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Never tried, but if you want gift money and don't want to write the letter and provide proof of funds. Get the money months before you start the process, it won't even need to be explained because they only check the last 2 bank statements .
