Forum Replies Created
-
AuthorPosts
-
(former)FormerSanDiegan
ParticipantI have another idea.
Spend the money instead on a new gas dryer.
It’ll cost you in the same ballpark as the electrical work and will save you a couple hundred bucks a year in utility bills. (A load in gas dryer is about half the cost as electric).edit …
Same thing happened to me 10 years ago. I don;t regret selling my almost new dryer on craiglist for $200 and eating the costs of the new dryer. It has paid for itself twice over the 10 years.ParticipantForgot to add… If you are willing to pay some closing costs you can probably get down in the mid to low 4% rates and the best assumptions (high FICO, low LTV, meet income guidelines, etc).
Another factor that may make things work is if you can meet the lenders’ debt-to-income ratios assuming you receive zero rent. (since this is a newly converted rental).
ParticipantForgot to add… If you are willing to pay some closing costs you can probably get down in the mid to low 4% rates and the best assumptions (high FICO, low LTV, meet income guidelines, etc).
Another factor that may make things work is if you can meet the lenders’ debt-to-income ratios assuming you receive zero rent. (since this is a newly converted rental).
ParticipantForgot to add… If you are willing to pay some closing costs you can probably get down in the mid to low 4% rates and the best assumptions (high FICO, low LTV, meet income guidelines, etc).
Another factor that may make things work is if you can meet the lenders’ debt-to-income ratios assuming you receive zero rent. (since this is a newly converted rental).
ParticipantForgot to add… If you are willing to pay some closing costs you can probably get down in the mid to low 4% rates and the best assumptions (high FICO, low LTV, meet income guidelines, etc).
Another factor that may make things work is if you can meet the lenders’ debt-to-income ratios assuming you receive zero rent. (since this is a newly converted rental).
ParticipantForgot to add… If you are willing to pay some closing costs you can probably get down in the mid to low 4% rates and the best assumptions (high FICO, low LTV, meet income guidelines, etc).
Another factor that may make things work is if you can meet the lenders’ debt-to-income ratios assuming you receive zero rent. (since this is a newly converted rental).
ParticipantDon;t know about specifics for condos, but I refinanced my long-time rental property (SFH) last year to a rate below 5%. To get the best rates you needed (at that time) 70% LTV (30% equity). I am unsure whether the current rates merit the costs of refinancing from 5.25. Get a quote from HLS and see.
Since it is only recently a rental and you have no rental history or tax returns reflecting the rental there may be other underwriting issues. But those rules tend to vary among lenders and loan programs and change over time. Best approach would be to refinance while living there (which I guess they did).
ParticipantDon;t know about specifics for condos, but I refinanced my long-time rental property (SFH) last year to a rate below 5%. To get the best rates you needed (at that time) 70% LTV (30% equity). I am unsure whether the current rates merit the costs of refinancing from 5.25. Get a quote from HLS and see.
Since it is only recently a rental and you have no rental history or tax returns reflecting the rental there may be other underwriting issues. But those rules tend to vary among lenders and loan programs and change over time. Best approach would be to refinance while living there (which I guess they did).
ParticipantDon;t know about specifics for condos, but I refinanced my long-time rental property (SFH) last year to a rate below 5%. To get the best rates you needed (at that time) 70% LTV (30% equity). I am unsure whether the current rates merit the costs of refinancing from 5.25. Get a quote from HLS and see.
Since it is only recently a rental and you have no rental history or tax returns reflecting the rental there may be other underwriting issues. But those rules tend to vary among lenders and loan programs and change over time. Best approach would be to refinance while living there (which I guess they did).
ParticipantDon;t know about specifics for condos, but I refinanced my long-time rental property (SFH) last year to a rate below 5%. To get the best rates you needed (at that time) 70% LTV (30% equity). I am unsure whether the current rates merit the costs of refinancing from 5.25. Get a quote from HLS and see.
Since it is only recently a rental and you have no rental history or tax returns reflecting the rental there may be other underwriting issues. But those rules tend to vary among lenders and loan programs and change over time. Best approach would be to refinance while living there (which I guess they did).
ParticipantDon;t know about specifics for condos, but I refinanced my long-time rental property (SFH) last year to a rate below 5%. To get the best rates you needed (at that time) 70% LTV (30% equity). I am unsure whether the current rates merit the costs of refinancing from 5.25. Get a quote from HLS and see.
Since it is only recently a rental and you have no rental history or tax returns reflecting the rental there may be other underwriting issues. But those rules tend to vary among lenders and loan programs and change over time. Best approach would be to refinance while living there (which I guess they did).
Participant[quote=investor][quote=FormerSanDiegan]I don’t have time to write a response to this very interesting topic, so this is a post to tell people that I would have a very well-thought out reponse, if only I had the time two do so, but I don’t and I have a PhD too so don’t think I am stupid or something, so if I had more time I would read the 237 word (or so) post further up that has no paragraph breaks and try to decipher something that is debatable in it because surely there is something to it that I could either agree with or disagree with and provide links to supporting third party opinions or facts to back up my position as to whether or not the post has merit.[/quote]
I don’t know how to highlight parts of quotes so that is why it reads like a run on sentence. But, is that the only response you have to the topic? You point out typos as intelligent responses? Same stupid method as Allen from Fallbrook and davelj.Why don’t you get back to the topic?[/quote]I don’t know what you are talking about. I was not pointing out any typos, simply just typing what came to mind after reading through (well, skimming through) this thread. I made a post about … well… about posting nothing, but you still seemed to find fault with it and put me into a category of people who according to you use “stupid methods.” As far as I can tell the topic here is how people respond to other people on this blog, their qualifications and degrees and their personal beliefs on how one should or should not respond to post with or without cogent thought. In that vein I am simply trying to post thoughts in those same areas and trying to fit in with this thread since it is the hottest thread on the board the last couple of days.
Anyway, I think the motivation for creating a conspiracy that is ultamately hatched long after you are dead (like the Federal Reserve in 1913) is so that you can create mystery and aura about yourself and give nutty authors stuff to write about.
In that vein, so far I have no offers from anyone to join my club in which club members will conspire to rule the universe. The plan will take some time and the expected fruition will be in 2108 or 2109.
We lay the ground work now to destroy the economy of the entire universe (not just Earth, we have to think big here because it’s in the future), while enriching our members. The plan will take some time to hatch, but in the end our members will rule the financial universe. If all goes well the plan will run its course by 2107 or 2109 at the latest.
Who’s with me ?Participant[quote=investor][quote=FormerSanDiegan]I don’t have time to write a response to this very interesting topic, so this is a post to tell people that I would have a very well-thought out reponse, if only I had the time two do so, but I don’t and I have a PhD too so don’t think I am stupid or something, so if I had more time I would read the 237 word (or so) post further up that has no paragraph breaks and try to decipher something that is debatable in it because surely there is something to it that I could either agree with or disagree with and provide links to supporting third party opinions or facts to back up my position as to whether or not the post has merit.[/quote]
I don’t know how to highlight parts of quotes so that is why it reads like a run on sentence. But, is that the only response you have to the topic? You point out typos as intelligent responses? Same stupid method as Allen from Fallbrook and davelj.Why don’t you get back to the topic?[/quote]I don’t know what you are talking about. I was not pointing out any typos, simply just typing what came to mind after reading through (well, skimming through) this thread. I made a post about … well… about posting nothing, but you still seemed to find fault with it and put me into a category of people who according to you use “stupid methods.” As far as I can tell the topic here is how people respond to other people on this blog, their qualifications and degrees and their personal beliefs on how one should or should not respond to post with or without cogent thought. In that vein I am simply trying to post thoughts in those same areas and trying to fit in with this thread since it is the hottest thread on the board the last couple of days.
Anyway, I think the motivation for creating a conspiracy that is ultamately hatched long after you are dead (like the Federal Reserve in 1913) is so that you can create mystery and aura about yourself and give nutty authors stuff to write about.
In that vein, so far I have no offers from anyone to join my club in which club members will conspire to rule the universe. The plan will take some time and the expected fruition will be in 2108 or 2109.
We lay the ground work now to destroy the economy of the entire universe (not just Earth, we have to think big here because it’s in the future), while enriching our members. The plan will take some time to hatch, but in the end our members will rule the financial universe. If all goes well the plan will run its course by 2107 or 2109 at the latest.
Who’s with me ?Participant[quote=investor][quote=FormerSanDiegan]I don’t have time to write a response to this very interesting topic, so this is a post to tell people that I would have a very well-thought out reponse, if only I had the time two do so, but I don’t and I have a PhD too so don’t think I am stupid or something, so if I had more time I would read the 237 word (or so) post further up that has no paragraph breaks and try to decipher something that is debatable in it because surely there is something to it that I could either agree with or disagree with and provide links to supporting third party opinions or facts to back up my position as to whether or not the post has merit.[/quote]
I don’t know how to highlight parts of quotes so that is why it reads like a run on sentence. But, is that the only response you have to the topic? You point out typos as intelligent responses? Same stupid method as Allen from Fallbrook and davelj.Why don’t you get back to the topic?[/quote]I don’t know what you are talking about. I was not pointing out any typos, simply just typing what came to mind after reading through (well, skimming through) this thread. I made a post about … well… about posting nothing, but you still seemed to find fault with it and put me into a category of people who according to you use “stupid methods.” As far as I can tell the topic here is how people respond to other people on this blog, their qualifications and degrees and their personal beliefs on how one should or should not respond to post with or without cogent thought. In that vein I am simply trying to post thoughts in those same areas and trying to fit in with this thread since it is the hottest thread on the board the last couple of days.
Anyway, I think the motivation for creating a conspiracy that is ultamately hatched long after you are dead (like the Federal Reserve in 1913) is so that you can create mystery and aura about yourself and give nutty authors stuff to write about.
In that vein, so far I have no offers from anyone to join my club in which club members will conspire to rule the universe. The plan will take some time and the expected fruition will be in 2108 or 2109.
We lay the ground work now to destroy the economy of the entire universe (not just Earth, we have to think big here because it’s in the future), while enriching our members. The plan will take some time to hatch, but in the end our members will rule the financial universe. If all goes well the plan will run its course by 2107 or 2109 at the latest.
Who’s with me ? -
AuthorPosts
