- This topic has 435 replies, 33 voices, and was last updated 17 years, 1 month ago by
Coronita.
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December 24, 2007 at 3:40 PM #123875December 24, 2007 at 3:50 PM #123640
The OC Scam
ParticipantWell Mate
If you want to buy right now you better have 20 percent, FICO in the high 700s and making around 100k plus a year in order to maybe have a chance…..Oooh and by the way do not forget you may have to pay some of the closing costs if not maybe all since most sellers are banks…. I wonder if you can even get what you want?? I don’t believe currently it is about a purchase offer agreement but actually closing escrow since Country Wide is one of the only lenders offering any stated income programs to date??
December 24, 2007 at 3:50 PM #123785The OC Scam
ParticipantWell Mate
If you want to buy right now you better have 20 percent, FICO in the high 700s and making around 100k plus a year in order to maybe have a chance…..Oooh and by the way do not forget you may have to pay some of the closing costs if not maybe all since most sellers are banks…. I wonder if you can even get what you want?? I don’t believe currently it is about a purchase offer agreement but actually closing escrow since Country Wide is one of the only lenders offering any stated income programs to date??
December 24, 2007 at 3:50 PM #123810The OC Scam
ParticipantWell Mate
If you want to buy right now you better have 20 percent, FICO in the high 700s and making around 100k plus a year in order to maybe have a chance…..Oooh and by the way do not forget you may have to pay some of the closing costs if not maybe all since most sellers are banks…. I wonder if you can even get what you want?? I don’t believe currently it is about a purchase offer agreement but actually closing escrow since Country Wide is one of the only lenders offering any stated income programs to date??
December 24, 2007 at 3:50 PM #123864The OC Scam
ParticipantWell Mate
If you want to buy right now you better have 20 percent, FICO in the high 700s and making around 100k plus a year in order to maybe have a chance…..Oooh and by the way do not forget you may have to pay some of the closing costs if not maybe all since most sellers are banks…. I wonder if you can even get what you want?? I don’t believe currently it is about a purchase offer agreement but actually closing escrow since Country Wide is one of the only lenders offering any stated income programs to date??
December 24, 2007 at 3:50 PM #123885The OC Scam
ParticipantWell Mate
If you want to buy right now you better have 20 percent, FICO in the high 700s and making around 100k plus a year in order to maybe have a chance…..Oooh and by the way do not forget you may have to pay some of the closing costs if not maybe all since most sellers are banks…. I wonder if you can even get what you want?? I don’t believe currently it is about a purchase offer agreement but actually closing escrow since Country Wide is one of the only lenders offering any stated income programs to date??
December 24, 2007 at 3:54 PM #123634Eugene
ParticipantWhere’s a good place to look for a rental?
http://sandiego.craigslist.org
wouldn’t it be wiser to put that money in the mortgage rather than pay someone else’s mortgage. But maybe it will make sense for the right rental.
letting someone else absorb house price decline on the order of 10%/year far outweighs any other possible financial reasons.
Consider a house that’s worth 500K today. Renting it will cost $2000-2500/month. Buying it will cost you at least $2500/month in interest on your loan, plus possibly $5000/month in depreciation.
December 24, 2007 at 3:54 PM #123783Eugene
ParticipantWhere’s a good place to look for a rental?
http://sandiego.craigslist.org
wouldn’t it be wiser to put that money in the mortgage rather than pay someone else’s mortgage. But maybe it will make sense for the right rental.
letting someone else absorb house price decline on the order of 10%/year far outweighs any other possible financial reasons.
Consider a house that’s worth 500K today. Renting it will cost $2000-2500/month. Buying it will cost you at least $2500/month in interest on your loan, plus possibly $5000/month in depreciation.
December 24, 2007 at 3:54 PM #123806Eugene
ParticipantWhere’s a good place to look for a rental?
http://sandiego.craigslist.org
wouldn’t it be wiser to put that money in the mortgage rather than pay someone else’s mortgage. But maybe it will make sense for the right rental.
letting someone else absorb house price decline on the order of 10%/year far outweighs any other possible financial reasons.
Consider a house that’s worth 500K today. Renting it will cost $2000-2500/month. Buying it will cost you at least $2500/month in interest on your loan, plus possibly $5000/month in depreciation.
December 24, 2007 at 3:54 PM #123859Eugene
ParticipantWhere’s a good place to look for a rental?
http://sandiego.craigslist.org
wouldn’t it be wiser to put that money in the mortgage rather than pay someone else’s mortgage. But maybe it will make sense for the right rental.
letting someone else absorb house price decline on the order of 10%/year far outweighs any other possible financial reasons.
Consider a house that’s worth 500K today. Renting it will cost $2000-2500/month. Buying it will cost you at least $2500/month in interest on your loan, plus possibly $5000/month in depreciation.
December 24, 2007 at 3:54 PM #123880Eugene
ParticipantWhere’s a good place to look for a rental?
http://sandiego.craigslist.org
wouldn’t it be wiser to put that money in the mortgage rather than pay someone else’s mortgage. But maybe it will make sense for the right rental.
letting someone else absorb house price decline on the order of 10%/year far outweighs any other possible financial reasons.
Consider a house that’s worth 500K today. Renting it will cost $2000-2500/month. Buying it will cost you at least $2500/month in interest on your loan, plus possibly $5000/month in depreciation.
December 24, 2007 at 3:55 PM #123653125mph
ParticipantWell to be honest OCScam,
I only have 10% down. I do 160k annual income with long history, and fico is around 780. The loan officer said he could qualify me for 630k house (assumin 10% down) without problems and no jumbo loan, or higher with jumbo at higher rates. I’m also only interestd in buying with seller paying for full closing.
December 24, 2007 at 3:55 PM #123794125mph
ParticipantWell to be honest OCScam,
I only have 10% down. I do 160k annual income with long history, and fico is around 780. The loan officer said he could qualify me for 630k house (assumin 10% down) without problems and no jumbo loan, or higher with jumbo at higher rates. I’m also only interestd in buying with seller paying for full closing.
December 24, 2007 at 3:55 PM #123819125mph
ParticipantWell to be honest OCScam,
I only have 10% down. I do 160k annual income with long history, and fico is around 780. The loan officer said he could qualify me for 630k house (assumin 10% down) without problems and no jumbo loan, or higher with jumbo at higher rates. I’m also only interestd in buying with seller paying for full closing.
December 24, 2007 at 3:55 PM #123874125mph
ParticipantWell to be honest OCScam,
I only have 10% down. I do 160k annual income with long history, and fico is around 780. The loan officer said he could qualify me for 630k house (assumin 10% down) without problems and no jumbo loan, or higher with jumbo at higher rates. I’m also only interestd in buying with seller paying for full closing.
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