Number of qualified house buyers is shrinking…

[HLS]

Murf..
At 5.50% NO fee is charged because the lender will pay…..
5.50% pays a commission. 5.00% does not
This weeks “average” rates were 5.50%
The point is that a lower rate is really available, but it comes with an upfront cost.
(Rates change daily)

Putting a borrower into the higher rate gets a commission from the lender. The higher the rate the higher the commission. It’s a reward from the lender for screwing a borrower. (Not what I do)
If kept for many years, the borrower will pay thousands of dollars more in the long run.

The alternative is paying a fee up front and getting a lower rate/lower payment. It’s a detailed explanation that most ppl don’t understand, including those pushing loans.

There is no such thing as a “no cost” loan. IF there is no cost up front, it will cost a fortune in the long run. Usually the break even point is 2-3 years. Depends on individual circumstances.

I hope this makes sense.

[Daniel]

Sheldon,

I sent you an e-mail at [email protected] earlier today.

Thanks for all your help,
Daniel

[Daniel]

Sheldon,

I sent you an e-mail at [email protected] earlier today.

Thanks for all your help,
Daniel

[Daniel]

Sheldon,

I sent you an e-mail at [email protected] earlier today.

Thanks for all your help,
Daniel

[Daniel]

Sheldon,

I sent you an e-mail at [email protected] earlier today.

Thanks for all your help,
Daniel

[Daniel]

Sheldon,

I sent you an e-mail at [email protected] earlier today.

Thanks for all your help,
Daniel

[blahblahblah]

VERY few ppl are buying second homes today.

Good. You can only live in one house after all. Well, at least until you get divorced!

[blahblahblah]

VERY few ppl are buying second homes today.

Good. You can only live in one house after all. Well, at least until you get divorced!

[blahblahblah]

VERY few ppl are buying second homes today.

Good. You can only live in one house after all. Well, at least until you get divorced!

[blahblahblah]

VERY few ppl are buying second homes today.

Good. You can only live in one house after all. Well, at least until you get divorced!

[blahblahblah]

VERY few ppl are buying second homes today.

Good. You can only live in one house after all. Well, at least until you get divorced!

[AK]

Perhaps fewer people can qualify for financing … but I’d argue that of the people who qualify, more of them can afford a house.

BTW, thanks for the back-of-the-envelope analysis of a 10/1 IO ARM you did a few months back. I ran the numbers in detail and found out the payments will nearly triple if the 1-year LIBOR goes back to anything near historical norms!

[AK]

Perhaps fewer people can qualify for financing … but I’d argue that of the people who qualify, more of them can afford a house.

BTW, thanks for the back-of-the-envelope analysis of a 10/1 IO ARM you did a few months back. I ran the numbers in detail and found out the payments will nearly triple if the 1-year LIBOR goes back to anything near historical norms!

[AK]

Perhaps fewer people can qualify for financing … but I’d argue that of the people who qualify, more of them can afford a house.

BTW, thanks for the back-of-the-envelope analysis of a 10/1 IO ARM you did a few months back. I ran the numbers in detail and found out the payments will nearly triple if the 1-year LIBOR goes back to anything near historical norms!

[AK]

Perhaps fewer people can qualify for financing … but I’d argue that of the people who qualify, more of them can afford a house.

BTW, thanks for the back-of-the-envelope analysis of a 10/1 IO ARM you did a few months back. I ran the numbers in detail and found out the payments will nearly triple if the 1-year LIBOR goes back to anything near historical norms!

[Author]

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