- This topic has 70 replies, 7 voices, and was last updated 16 years, 1 month ago by HLS.
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December 17, 2008 at 10:52 PM #317770December 18, 2008 at 10:39 AM #317813ScarlettParticipant
Thanks, HLS. Yes, that up front fee for FHA loan is quite a bit, and the rates are not usually competitive. I was surprised too, when the officer that did my first home loan suggested it (yes, I was a knife-catcher in 2004 -but he gave me the best deal in town at the time)…
I know I’d miss the lowest mortgage rates but we are still looking around at houses in PQ/CMR and haven’t yet decided to pull the trigger. A historically low rate is great, but a 15-20% drop in home values is better (for us)…if the rates don’t go up much!….if we don’t *have* to have 20% downpayment to get a decent loan!
I know, I know…If, if, if!!! Let me explain….I don’t care about being *that* close to the bottom, and I know the rates may go up significantly in the future, but I’d hate to be a knife-catcher again. Only by extremely fortunate timing we managed to get out with just a little loss at the end of summer 2007. It was nerve-wrecking, I can tell you…. that’s why we are still on the fence.
December 18, 2008 at 10:39 AM #317771ScarlettParticipantThanks, HLS. Yes, that up front fee for FHA loan is quite a bit, and the rates are not usually competitive. I was surprised too, when the officer that did my first home loan suggested it (yes, I was a knife-catcher in 2004 -but he gave me the best deal in town at the time)…
I know I’d miss the lowest mortgage rates but we are still looking around at houses in PQ/CMR and haven’t yet decided to pull the trigger. A historically low rate is great, but a 15-20% drop in home values is better (for us)…if the rates don’t go up much!….if we don’t *have* to have 20% downpayment to get a decent loan!
I know, I know…If, if, if!!! Let me explain….I don’t care about being *that* close to the bottom, and I know the rates may go up significantly in the future, but I’d hate to be a knife-catcher again. Only by extremely fortunate timing we managed to get out with just a little loss at the end of summer 2007. It was nerve-wrecking, I can tell you…. that’s why we are still on the fence.
December 18, 2008 at 10:39 AM #317834ScarlettParticipantThanks, HLS. Yes, that up front fee for FHA loan is quite a bit, and the rates are not usually competitive. I was surprised too, when the officer that did my first home loan suggested it (yes, I was a knife-catcher in 2004 -but he gave me the best deal in town at the time)…
I know I’d miss the lowest mortgage rates but we are still looking around at houses in PQ/CMR and haven’t yet decided to pull the trigger. A historically low rate is great, but a 15-20% drop in home values is better (for us)…if the rates don’t go up much!….if we don’t *have* to have 20% downpayment to get a decent loan!
I know, I know…If, if, if!!! Let me explain….I don’t care about being *that* close to the bottom, and I know the rates may go up significantly in the future, but I’d hate to be a knife-catcher again. Only by extremely fortunate timing we managed to get out with just a little loss at the end of summer 2007. It was nerve-wrecking, I can tell you…. that’s why we are still on the fence.
December 18, 2008 at 10:39 AM #317910ScarlettParticipantThanks, HLS. Yes, that up front fee for FHA loan is quite a bit, and the rates are not usually competitive. I was surprised too, when the officer that did my first home loan suggested it (yes, I was a knife-catcher in 2004 -but he gave me the best deal in town at the time)…
I know I’d miss the lowest mortgage rates but we are still looking around at houses in PQ/CMR and haven’t yet decided to pull the trigger. A historically low rate is great, but a 15-20% drop in home values is better (for us)…if the rates don’t go up much!….if we don’t *have* to have 20% downpayment to get a decent loan!
I know, I know…If, if, if!!! Let me explain….I don’t care about being *that* close to the bottom, and I know the rates may go up significantly in the future, but I’d hate to be a knife-catcher again. Only by extremely fortunate timing we managed to get out with just a little loss at the end of summer 2007. It was nerve-wrecking, I can tell you…. that’s why we are still on the fence.
December 18, 2008 at 10:39 AM #317418ScarlettParticipantThanks, HLS. Yes, that up front fee for FHA loan is quite a bit, and the rates are not usually competitive. I was surprised too, when the officer that did my first home loan suggested it (yes, I was a knife-catcher in 2004 -but he gave me the best deal in town at the time)…
I know I’d miss the lowest mortgage rates but we are still looking around at houses in PQ/CMR and haven’t yet decided to pull the trigger. A historically low rate is great, but a 15-20% drop in home values is better (for us)…if the rates don’t go up much!….if we don’t *have* to have 20% downpayment to get a decent loan!
I know, I know…If, if, if!!! Let me explain….I don’t care about being *that* close to the bottom, and I know the rates may go up significantly in the future, but I’d hate to be a knife-catcher again. Only by extremely fortunate timing we managed to get out with just a little loss at the end of summer 2007. It was nerve-wrecking, I can tell you…. that’s why we are still on the fence.
December 18, 2008 at 10:50 AM #317786ScarlettParticipantHLS, how is the PMI calculated for example for a 540K loan (600K purchase with 10% down)? FNMA for example.
thanks,
ScarlettDecember 18, 2008 at 10:50 AM #317828ScarlettParticipantHLS, how is the PMI calculated for example for a 540K loan (600K purchase with 10% down)? FNMA for example.
thanks,
ScarlettDecember 18, 2008 at 10:50 AM #317433ScarlettParticipantHLS, how is the PMI calculated for example for a 540K loan (600K purchase with 10% down)? FNMA for example.
thanks,
ScarlettDecember 18, 2008 at 10:50 AM #317849ScarlettParticipantHLS, how is the PMI calculated for example for a 540K loan (600K purchase with 10% down)? FNMA for example.
thanks,
ScarlettDecember 18, 2008 at 10:50 AM #317925ScarlettParticipantHLS, how is the PMI calculated for example for a 540K loan (600K purchase with 10% down)? FNMA for example.
thanks,
ScarlettDecember 18, 2008 at 6:20 PM #318095jParticipantI believe there is no PMI on FHA loans.
December 18, 2008 at 6:20 PM #317604jParticipantI believe there is no PMI on FHA loans.
December 18, 2008 at 6:20 PM #317956jParticipantI believe there is no PMI on FHA loans.
December 18, 2008 at 6:20 PM #318019jParticipantI believe there is no PMI on FHA loans.
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