[Doooh]

Here’s the Mortgage options that I’m debating.

I’ve narrowed it down to 2 different loans. The REO bank is giving me $16k for closing/loan cost so it was relatively easy to narrow the loan down to these two below. I have to use the $16k or loose it, the other loan options leave $ on the table.

$2800to$3000 in rent + $2500to3000 payment = $5500to6k Monthly payment

So I’ll be paying it off in $6k monthly chunks if there isn’t anything unforeseeable happening. The minimum payment is $1600 on the ARM or $2100 for the fixed, but those figures don’t matter because I’ll be paying 3 to 4x the minimum payment. The payment on the ARM caps out at $2800 if all hell breaks loose in 5 yrs and all the caps are maxed out.

SO
2.5% apr on a 5yr ARM caped at 7.5% max for 30 yrs
OR
4.5% apr on a 30yr fixed

I’m even debating on paying the minimum on the 5yr ARM, saving the $4600 a month I’d otherwise be paying monthly. I’d be hoping for a interest rate increase and invest the $4600 in CD’s or a Savings account (Read super save insured) until year 5, and paying a couple hundred thousand $ lump payment before the interest adjusts on year 5. Here’s crossing my fingers for the EmigrantDirect savings to jump above 2.5% in a year again… How I loved my 5% intrest rates on my savings years ago.

$417 is the mortgage amount.

[Doooh]

Here’s the Mortgage options that I’m debating.

I’ve narrowed it down to 2 different loans. The REO bank is giving me $16k for closing/loan cost so it was relatively easy to narrow the loan down to these two below. I have to use the $16k or loose it, the other loan options leave $ on the table.

$2800to$3000 in rent + $2500to3000 payment = $5500to6k Monthly payment

So I’ll be paying it off in $6k monthly chunks if there isn’t anything unforeseeable happening. The minimum payment is $1600 on the ARM or $2100 for the fixed, but those figures don’t matter because I’ll be paying 3 to 4x the minimum payment. The payment on the ARM caps out at $2800 if all hell breaks loose in 5 yrs and all the caps are maxed out.

SO
2.5% apr on a 5yr ARM caped at 7.5% max for 30 yrs
OR
4.5% apr on a 30yr fixed

I’m even debating on paying the minimum on the 5yr ARM, saving the $4600 a month I’d otherwise be paying monthly. I’d be hoping for a interest rate increase and invest the $4600 in CD’s or a Savings account (Read super save insured) until year 5, and paying a couple hundred thousand $ lump payment before the interest adjusts on year 5. Here’s crossing my fingers for the EmigrantDirect savings to jump above 2.5% in a year again… How I loved my 5% intrest rates on my savings years ago.

$417 is the mortgage amount.

[Doooh]

Here’s the Mortgage options that I’m debating.

I’ve narrowed it down to 2 different loans. The REO bank is giving me $16k for closing/loan cost so it was relatively easy to narrow the loan down to these two below. I have to use the $16k or loose it, the other loan options leave $ on the table.

$2800to$3000 in rent + $2500to3000 payment = $5500to6k Monthly payment

So I’ll be paying it off in $6k monthly chunks if there isn’t anything unforeseeable happening. The minimum payment is $1600 on the ARM or $2100 for the fixed, but those figures don’t matter because I’ll be paying 3 to 4x the minimum payment. The payment on the ARM caps out at $2800 if all hell breaks loose in 5 yrs and all the caps are maxed out.

SO
2.5% apr on a 5yr ARM caped at 7.5% max for 30 yrs
OR
4.5% apr on a 30yr fixed

I’m even debating on paying the minimum on the 5yr ARM, saving the $4600 a month I’d otherwise be paying monthly. I’d be hoping for a interest rate increase and invest the $4600 in CD’s or a Savings account (Read super save insured) until year 5, and paying a couple hundred thousand $ lump payment before the interest adjusts on year 5. Here’s crossing my fingers for the EmigrantDirect savings to jump above 2.5% in a year again… How I loved my 5% intrest rates on my savings years ago.

$417 is the mortgage amount.

[Doooh]

Here’s the Mortgage options that I’m debating.

I’ve narrowed it down to 2 different loans. The REO bank is giving me $16k for closing/loan cost so it was relatively easy to narrow the loan down to these two below. I have to use the $16k or loose it, the other loan options leave $ on the table.

$2800to$3000 in rent + $2500to3000 payment = $5500to6k Monthly payment

So I’ll be paying it off in $6k monthly chunks if there isn’t anything unforeseeable happening. The minimum payment is $1600 on the ARM or $2100 for the fixed, but those figures don’t matter because I’ll be paying 3 to 4x the minimum payment. The payment on the ARM caps out at $2800 if all hell breaks loose in 5 yrs and all the caps are maxed out.

SO
2.5% apr on a 5yr ARM caped at 7.5% max for 30 yrs
OR
4.5% apr on a 30yr fixed

I’m even debating on paying the minimum on the 5yr ARM, saving the $4600 a month I’d otherwise be paying monthly. I’d be hoping for a interest rate increase and invest the $4600 in CD’s or a Savings account (Read super save insured) until year 5, and paying a couple hundred thousand $ lump payment before the interest adjusts on year 5. Here’s crossing my fingers for the EmigrantDirect savings to jump above 2.5% in a year again… How I loved my 5% intrest rates on my savings years ago.

$417 is the mortgage amount.

[Doooh]

Walter can you clarify that math for me? I’m a hard learn’ed.

[Doooh]

Walter can you clarify that math for me? I’m a hard learn’ed.

[Doooh]

Walter can you clarify that math for me? I’m a hard learn’ed.

[Doooh]

Walter can you clarify that math for me? I’m a hard learn’ed.

[Doooh]

Walter can you clarify that math for me? I’m a hard learn’ed.

[Doooh]

opps forgot the link.

http://www.zillow.com/homedetails/13674-Somerset-Rd-Poway-CA-92064/72108623_zpid/#{scid=hdp-site-map-bubble-address}

[Doooh]

opps forgot the link.

http://www.zillow.com/homedetails/13674-Somerset-Rd-Poway-CA-92064/72108623_zpid/#{scid=hdp-site-map-bubble-address}

[Doooh]

opps forgot the link.

http://www.zillow.com/homedetails/13674-Somerset-Rd-Poway-CA-92064/72108623_zpid/#{scid=hdp-site-map-bubble-address}

[Doooh]

opps forgot the link.

http://www.zillow.com/homedetails/13674-Somerset-Rd-Poway-CA-92064/72108623_zpid/#{scid=hdp-site-map-bubble-address}

[Doooh]

opps forgot the link.

http://www.zillow.com/homedetails/13674-Somerset-Rd-Poway-CA-92064/72108623_zpid/#{scid=hdp-site-map-bubble-address}

[Doooh]

Here’s the property in question. I’ve moved on. I was going to throw in an offer of $300k with the price drop on 2-14-2011. I found out there was already an offer in when I was debating mine. The news of the existing offer just before mine made me pass on submitting mine.

Obviously the Bank didn’t think the $350 offer was good enough and rejected it? It’s now re-listed at $465k, and will not cash flow now as a rental.

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