Our offer is all cash with no loan contingency. In the meantime we are going through the hurdles to put the FHA loan in place. If at the end of 30 days we don’t have the loan we will close with all cash and then refinance. We won’t be able to do a 3.5% dp though..therefore our mortgage broker better earn his keep and get the deal done. But I am not worried, today is day one and our loan is going into underwriting first thing tomorrow morning (we had all our docs lined up and ready to go).
[quote]I mean our PITI payment is (for example) $3000. With the tax writeoff it is effectively $2500. For us to rent the equivalent house in the LJ school district similar to this house would cost $3000. This is all based on an FHA loan with a DP of 3.5%. Make sense?[/quote]
Sounds almost too good to be true. I didn’t think there were such deals in LJ. Congrats!
[quote]I mean our PITI payment is (for example) $3000. With the tax writeoff it is effectively $2500. For us to rent the equivalent house in the LJ school district similar to this house would cost $3000. This is all based on an FHA loan with a DP of 3.5%. Make sense?[/quote]
Sounds almost too good to be true. I didn’t think there were such deals in LJ. Congrats!
[quote]I mean our PITI payment is (for example) $3000. With the tax writeoff it is effectively $2500. For us to rent the equivalent house in the LJ school district similar to this house would cost $3000. This is all based on an FHA loan with a DP of 3.5%. Make sense?[/quote]
Sounds almost too good to be true. I didn’t think there were such deals in LJ. Congrats!
[quote]I mean our PITI payment is (for example) $3000. With the tax writeoff it is effectively $2500. For us to rent the equivalent house in the LJ school district similar to this house would cost $3000. This is all based on an FHA loan with a DP of 3.5%. Make sense?[/quote]
Sounds almost too good to be true. I didn’t think there were such deals in LJ. Congrats!
[quote]I mean our PITI payment is (for example) $3000. With the tax writeoff it is effectively $2500. For us to rent the equivalent house in the LJ school district similar to this house would cost $3000. This is all based on an FHA loan with a DP of 3.5%. Make sense?[/quote]
Sounds almost too good to be true. I didn’t think there were such deals in LJ. Congrats!
