[Doooh]

He gave me all that. I want the breakdowns at different years to better judge my early pay off and best ways to keep my $ working for me. Read his reply again.

[Doooh]

He gave me all that. I want the breakdowns at different years to better judge my early pay off and best ways to keep my $ working for me. Read his reply again.

[Doooh]

He gave me all that. I want the breakdowns at different years to better judge my early pay off and best ways to keep my $ working for me. Read his reply again.

[Doooh]

He gave me all that. I want the breakdowns at different years to better judge my early pay off and best ways to keep my $ working for me. Read his reply again.

[Doooh]

The 5 yr ARM is a principal and intrest payment, not an optional interest only.

Here’s what has me frazled, my mortgage guy says nobody has ever asked for the info that I’m asking for.

Here’s his synopsis of the charts that I had him pull for me comparing both loans.

“Check the two attached spread sheets. I am still working on how to figure out what happens when the ARM were to go to 7.50% after 5 yrs. Nonetheless this shows after 5yrs, in addition to the monthly savings, your loan balance will be about 13k lower further kicking out that breakeven. Safe to say it’s around 9.5 yrs at this point.
 
The chart shows all 360 payment so just look at payment #60 for 5 yr analysis.”

So, I would have saved $28,000 in payments in the first 5 years AND my principal would be $13,000 less by taking the lower 2.5% loan. That’s a freaking boat load of money.

$41,000 is more than the average yearly take home pay in San Diego after taxes!

[Doooh]

The 5 yr ARM is a principal and intrest payment, not an optional interest only.

Here’s what has me frazled, my mortgage guy says nobody has ever asked for the info that I’m asking for.

Here’s his synopsis of the charts that I had him pull for me comparing both loans.

“Check the two attached spread sheets. I am still working on how to figure out what happens when the ARM were to go to 7.50% after 5 yrs. Nonetheless this shows after 5yrs, in addition to the monthly savings, your loan balance will be about 13k lower further kicking out that breakeven. Safe to say it’s around 9.5 yrs at this point.
 
The chart shows all 360 payment so just look at payment #60 for 5 yr analysis.”

So, I would have saved $28,000 in payments in the first 5 years AND my principal would be $13,000 less by taking the lower 2.5% loan. That’s a freaking boat load of money.

$41,000 is more than the average yearly take home pay in San Diego after taxes!

[Doooh]

The 5 yr ARM is a principal and intrest payment, not an optional interest only.

Here’s what has me frazled, my mortgage guy says nobody has ever asked for the info that I’m asking for.

Here’s his synopsis of the charts that I had him pull for me comparing both loans.

“Check the two attached spread sheets. I am still working on how to figure out what happens when the ARM were to go to 7.50% after 5 yrs. Nonetheless this shows after 5yrs, in addition to the monthly savings, your loan balance will be about 13k lower further kicking out that breakeven. Safe to say it’s around 9.5 yrs at this point.
 
The chart shows all 360 payment so just look at payment #60 for 5 yr analysis.”

So, I would have saved $28,000 in payments in the first 5 years AND my principal would be $13,000 less by taking the lower 2.5% loan. That’s a freaking boat load of money.

$41,000 is more than the average yearly take home pay in San Diego after taxes!

[Doooh]

The 5 yr ARM is a principal and intrest payment, not an optional interest only.

Here’s what has me frazled, my mortgage guy says nobody has ever asked for the info that I’m asking for.

Here’s his synopsis of the charts that I had him pull for me comparing both loans.

“Check the two attached spread sheets. I am still working on how to figure out what happens when the ARM were to go to 7.50% after 5 yrs. Nonetheless this shows after 5yrs, in addition to the monthly savings, your loan balance will be about 13k lower further kicking out that breakeven. Safe to say it’s around 9.5 yrs at this point.
 
The chart shows all 360 payment so just look at payment #60 for 5 yr analysis.”

So, I would have saved $28,000 in payments in the first 5 years AND my principal would be $13,000 less by taking the lower 2.5% loan. That’s a freaking boat load of money.

$41,000 is more than the average yearly take home pay in San Diego after taxes!

[Doooh]

The 5 yr ARM is a principal and intrest payment, not an optional interest only.

Here’s what has me frazled, my mortgage guy says nobody has ever asked for the info that I’m asking for.

Here’s his synopsis of the charts that I had him pull for me comparing both loans.

“Check the two attached spread sheets. I am still working on how to figure out what happens when the ARM were to go to 7.50% after 5 yrs. Nonetheless this shows after 5yrs, in addition to the monthly savings, your loan balance will be about 13k lower further kicking out that breakeven. Safe to say it’s around 9.5 yrs at this point.
 
The chart shows all 360 payment so just look at payment #60 for 5 yr analysis.”

So, I would have saved $28,000 in payments in the first 5 years AND my principal would be $13,000 less by taking the lower 2.5% loan. That’s a freaking boat load of money.

$41,000 is more than the average yearly take home pay in San Diego after taxes!

[Doooh]

[quote=bearishgurl][quote=Doooh][quote=bearishgurl][quote=Doooh]…So spill it. Edjumicate me.[/quote]

Still need the margin. READ YOUR DOCS, Doooh!![/quote]

Index is 1 yr Libor and margin is 2.25%[/quote]

Sorry, I forgot to ask if the REO lender is asking you to pay any up-front points or origination fee to obtain either of these two mortgages and if so, what is the percentage of the fee(s) or point(s)?[/quote]

The bank is crediting 3% back to the closing costs on the deal. I have to burn $16k or I loose it.
So yes, the loan is being bought down, but that realy doesn’t matter to the equation because it’s not my $. It was pretty easy to narrow down the loan type to choose from when accounting for the kick back. I’d leave $ on the table if I didn’t use one of these loans. The 7.5 yr ARM option didn’t make much sense but it was a contender. I also came up with more than 20% down to take full advantage of the loan limits. $417k was a juicy limit in order to get a better rate, but was more than the standard 20%.

[Doooh]

[quote=bearishgurl][quote=Doooh][quote=bearishgurl][quote=Doooh]…So spill it. Edjumicate me.[/quote]

Still need the margin. READ YOUR DOCS, Doooh!![/quote]

Index is 1 yr Libor and margin is 2.25%[/quote]

Sorry, I forgot to ask if the REO lender is asking you to pay any up-front points or origination fee to obtain either of these two mortgages and if so, what is the percentage of the fee(s) or point(s)?[/quote]

The bank is crediting 3% back to the closing costs on the deal. I have to burn $16k or I loose it.
So yes, the loan is being bought down, but that realy doesn’t matter to the equation because it’s not my $. It was pretty easy to narrow down the loan type to choose from when accounting for the kick back. I’d leave $ on the table if I didn’t use one of these loans. The 7.5 yr ARM option didn’t make much sense but it was a contender. I also came up with more than 20% down to take full advantage of the loan limits. $417k was a juicy limit in order to get a better rate, but was more than the standard 20%.

[Doooh]

[quote=bearishgurl][quote=Doooh][quote=bearishgurl][quote=Doooh]…So spill it. Edjumicate me.[/quote]

Still need the margin. READ YOUR DOCS, Doooh!![/quote]

Index is 1 yr Libor and margin is 2.25%[/quote]

Sorry, I forgot to ask if the REO lender is asking you to pay any up-front points or origination fee to obtain either of these two mortgages and if so, what is the percentage of the fee(s) or point(s)?[/quote]

The bank is crediting 3% back to the closing costs on the deal. I have to burn $16k or I loose it.
So yes, the loan is being bought down, but that realy doesn’t matter to the equation because it’s not my $. It was pretty easy to narrow down the loan type to choose from when accounting for the kick back. I’d leave $ on the table if I didn’t use one of these loans. The 7.5 yr ARM option didn’t make much sense but it was a contender. I also came up with more than 20% down to take full advantage of the loan limits. $417k was a juicy limit in order to get a better rate, but was more than the standard 20%.

[Doooh]

[quote=bearishgurl][quote=Doooh][quote=bearishgurl][quote=Doooh]…So spill it. Edjumicate me.[/quote]

Still need the margin. READ YOUR DOCS, Doooh!![/quote]

Index is 1 yr Libor and margin is 2.25%[/quote]

Sorry, I forgot to ask if the REO lender is asking you to pay any up-front points or origination fee to obtain either of these two mortgages and if so, what is the percentage of the fee(s) or point(s)?[/quote]

The bank is crediting 3% back to the closing costs on the deal. I have to burn $16k or I loose it.
So yes, the loan is being bought down, but that realy doesn’t matter to the equation because it’s not my $. It was pretty easy to narrow down the loan type to choose from when accounting for the kick back. I’d leave $ on the table if I didn’t use one of these loans. The 7.5 yr ARM option didn’t make much sense but it was a contender. I also came up with more than 20% down to take full advantage of the loan limits. $417k was a juicy limit in order to get a better rate, but was more than the standard 20%.

[Doooh]

[quote=bearishgurl][quote=Doooh][quote=bearishgurl][quote=Doooh]…So spill it. Edjumicate me.[/quote]

Still need the margin. READ YOUR DOCS, Doooh!![/quote]

Index is 1 yr Libor and margin is 2.25%[/quote]

Sorry, I forgot to ask if the REO lender is asking you to pay any up-front points or origination fee to obtain either of these two mortgages and if so, what is the percentage of the fee(s) or point(s)?[/quote]

The bank is crediting 3% back to the closing costs on the deal. I have to burn $16k or I loose it.
So yes, the loan is being bought down, but that realy doesn’t matter to the equation because it’s not my $. It was pretty easy to narrow down the loan type to choose from when accounting for the kick back. I’d leave $ on the table if I didn’t use one of these loans. The 7.5 yr ARM option didn’t make much sense but it was a contender. I also came up with more than 20% down to take full advantage of the loan limits. $417k was a juicy limit in order to get a better rate, but was more than the standard 20%.

[Doooh]

[quote=bearishgurl][quote=Doooh]…So spill it. Edjumicate me.[/quote]

Still need the margin. READ YOUR DOCS, Doooh!![/quote]

Index is 1 yr Libor and margin is 2.25%

[Author]

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