- This topic has 145 replies, 18 voices, and was last updated 14 years, 4 months ago by
sdrealtor.
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February 20, 2008 at 1:56 PM #156833February 20, 2008 at 2:38 PM #156490
HLS
Participant“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”
OH really ?? Please explain THAT comment to me.
February 20, 2008 at 2:38 PM #156774Participant“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”
OH really ?? Please explain THAT comment to me.
February 20, 2008 at 2:38 PM #156776Participant“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”
OH really ?? Please explain THAT comment to me.
February 20, 2008 at 2:38 PM #156792Participant“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”
OH really ?? Please explain THAT comment to me.
February 20, 2008 at 2:38 PM #156867Participant“With respect to why or why not to charge a point and rebate vs charging less it sometimes comes down to the lender”
OH really ?? Please explain THAT comment to me.
February 20, 2008 at 3:28 PM #156510HereWeGo
ParticipantWhat are the terms of the 10 year ARM? Is it fixed for 10 years?
How are 10 year ARMs ulrimately funded? Do the GSEs buy them?
February 20, 2008 at 3:28 PM #156794ParticipantWhat are the terms of the 10 year ARM? Is it fixed for 10 years?
How are 10 year ARMs ulrimately funded? Do the GSEs buy them?
February 20, 2008 at 3:28 PM #156796ParticipantWhat are the terms of the 10 year ARM? Is it fixed for 10 years?
How are 10 year ARMs ulrimately funded? Do the GSEs buy them?
February 20, 2008 at 3:28 PM #156812ParticipantWhat are the terms of the 10 year ARM? Is it fixed for 10 years?
How are 10 year ARMs ulrimately funded? Do the GSEs buy them?
February 20, 2008 at 3:28 PM #156887ParticipantWhat are the terms of the 10 year ARM? Is it fixed for 10 years?
How are 10 year ARMs ulrimately funded? Do the GSEs buy them?
February 20, 2008 at 3:51 PM #156535Participant10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.
For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)For investment property, you MUST take the amortized payment.
There is no prepayment penalty.
When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.
One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.
Other lenders might offer different terms, but the prime lender rates require the above.
I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)
This is NOT a good thing with those that have condo rentals.
February 20, 2008 at 3:51 PM #156819Participant10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.
For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)For investment property, you MUST take the amortized payment.
There is no prepayment penalty.
When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.
One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.
Other lenders might offer different terms, but the prime lender rates require the above.
I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)
This is NOT a good thing with those that have condo rentals.
February 20, 2008 at 3:51 PM #156821Participant10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.
For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)For investment property, you MUST take the amortized payment.
There is no prepayment penalty.
When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.
One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.
Other lenders might offer different terms, but the prime lender rates require the above.
I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)
This is NOT a good thing with those that have condo rentals.
February 20, 2008 at 3:51 PM #156837Participant10 YR ARM rate is fixed for 10 years. It is bought by GSE’s.
For primary residence, it is usually available at the same rate whether you want interest only or a 30 YR amortization payment.
The rate will change in year 11 (Payment #121)For investment property, you MUST take the amortized payment.
There is no prepayment penalty.
When the rate is the same, I recommend taking the I/O payment as your obligation, but pay the amortized payment if you wish.
One never knows when they might run into financial difficulty, and the obligation of the lower payment is a benefit.
Other lenders might offer different terms, but the prime lender rates require the above.
I am also seeing that GSE’s will no longer loan on non-owner condos, regardless of credit score or LTV (at the moment)
This is NOT a good thing with those that have condo rentals.
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