- This topic has 30 replies, 6 voices, and was last updated 16 years, 5 months ago by
Sandi Egan.
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April 1, 2008 at 4:42 PM #179417April 1, 2008 at 6:13 PM #179820
Arty
ParticipantIs it kind of late for…
April 1, 2008 at 6:13 PM #179823Arty
ParticipantIs it kind of late for…
April 1, 2008 at 6:13 PM #179834Arty
ParticipantIs it kind of late for…
April 1, 2008 at 6:13 PM #179911Arty
ParticipantIs it kind of late for…
April 1, 2008 at 6:13 PM #179452Arty
ParticipantIs it kind of late for…
April 1, 2008 at 8:56 PM #179873Sandi Egan
ParticipantFirst I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.
The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.
She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.
Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.
Too bad Jim the Realtor has sold his Mesa Norte listing already…
April 1, 2008 at 8:56 PM #179961Sandi Egan
ParticipantFirst I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.
The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.
She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.
Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.
Too bad Jim the Realtor has sold his Mesa Norte listing already…
April 1, 2008 at 8:56 PM #179885Sandi Egan
ParticipantFirst I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.
The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.
She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.
Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.
Too bad Jim the Realtor has sold his Mesa Norte listing already…
April 1, 2008 at 8:56 PM #179870Sandi Egan
ParticipantFirst I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.
The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.
She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.
Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.
Too bad Jim the Realtor has sold his Mesa Norte listing already…
April 1, 2008 at 8:56 PM #179502Sandi Egan
ParticipantFirst I didn’t believe it, but I called my local BofA branch, and they confirmed all the information in OP.
The friendly clerk explained that they are able to borrow unlimited money from the fed at about 2%, so 4.something% is good return.
She also volunteered to explain why are they looking for low credit score/high debt types. The fact is, you have to be unable to pay your full mortgage to qualify for future govt bailout (of course, banks do know what exactly that bailout is going to look like and when does it kick in). And if you don’t qualify for the bailout, the bank will have to assume the risk itself.
Unfortunately, my credit score is too high to qualify for this particular offer. But luckily she found something suitable for me. So now I am pre-approved for 116% LTV loan at 4.78%, as long as the price is above $1.12M. It’s hard to find a home like that anymore, but I’ll do my best.
Too bad Jim the Realtor has sold his Mesa Norte listing already…
April 1, 2008 at 9:01 PM #179875Sandi Egan
ParticipantForgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.
Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.
April 1, 2008 at 9:01 PM #179878Sandi Egan
ParticipantForgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.
Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.
April 1, 2008 at 9:01 PM #179890Sandi Egan
ParticipantForgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.
Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.
April 1, 2008 at 9:01 PM #179507Sandi Egan
ParticipantForgot to mention that the 4.78% apr requires 3/4 points if the price is less than $1.3M.
Also, if I buy one of BofA REOs in 4S ranch they will pay my HOA fees for 3 years.
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