[quote=AN]jpinpb, I think right now, you should be able to get 4.5% with about 2 points. That’s about $4500 from a 80% loan w/ purchase price of $285k. That’s still $3500 less than than the $8k the government is giving you to buy. Your example doesn’t work, I agree with that. [/quote]
AN – Thanks for the explanation. I appreciate you taking the time. I still am a little confused. You said 80%. So that means putting 20% down? Not to be dense.
I have a question for anyone out there. Are those intending to eventually buy planning to put 20% down?
I originally intended to put 20% down, but w/each day hearing about the unemployment rising and the economy doing so poorly and the inventory rising and potential future decline in r.e. prices, if I bought today, I would only be comfortable putting down the minimum.
