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HLS
ParticipantYou can get a loan!
Jumbo Loans (above $417k)
30 YR Fixed, 20% down are 7.625%.
(2nds are available up to 90-95%) with 680+ mid credit score. With a score above 720 or 780 it gets slightly better.
Money is still available. Jumbo rates are higher than they were a month ago, but still less than they were years ago.Below $417K 30 YR fixed are about 6.25%.
ParticipantYou can get a loan!
Jumbo Loans (above $417k)
30 YR Fixed, 20% down are 7.625%.
(2nds are available up to 90-95%) with 680+ mid credit score. With a score above 720 or 780 it gets slightly better.
Money is still available. Jumbo rates are higher than they were a month ago, but still less than they were years ago.Below $417K 30 YR fixed are about 6.25%.
ParticipantYou can get a loan!
Jumbo Loans (above $417k)
30 YR Fixed, 20% down are 7.625%.
(2nds are available up to 90-95%) with 680+ mid credit score. With a score above 720 or 780 it gets slightly better.
Money is still available. Jumbo rates are higher than they were a month ago, but still less than they were years ago.Below $417K 30 YR fixed are about 6.25%.
ParticipantARE YOU KIDDING ??? Millenium Bank Accounts are NOT FDIC insured.
I have been to St Vincent & the Grenadines. It’s a poor Caribbean Island nation with a small bit of tourism.
Countrywide Bank accounts ARE FDIC insured. I wouldn’t risk $100,000 in cash to MAYBE get a couple thousand dollars a year.
You are risking $100,000.00 to maybe get $2,000, MAYBE.
I see on their site they have a LOAN BACK program.If had a CD there, I would get 95% out and be safe. I don’t care what their past history is.
I’ll stick with Countrywide Bank or similar FDIC insured accts!
ParticipantARE YOU KIDDING ??? Millenium Bank Accounts are NOT FDIC insured.
I have been to St Vincent & the Grenadines. It’s a poor Caribbean Island nation with a small bit of tourism.
Countrywide Bank accounts ARE FDIC insured. I wouldn’t risk $100,000 in cash to MAYBE get a couple thousand dollars a year.
You are risking $100,000.00 to maybe get $2,000, MAYBE.
I see on their site they have a LOAN BACK program.If had a CD there, I would get 95% out and be safe. I don’t care what their past history is.
I’ll stick with Countrywide Bank or similar FDIC insured accts!
ParticipantARE YOU KIDDING ??? Millenium Bank Accounts are NOT FDIC insured.
I have been to St Vincent & the Grenadines. It’s a poor Caribbean Island nation with a small bit of tourism.
Countrywide Bank accounts ARE FDIC insured. I wouldn’t risk $100,000 in cash to MAYBE get a couple thousand dollars a year.
You are risking $100,000.00 to maybe get $2,000, MAYBE.
I see on their site they have a LOAN BACK program.If had a CD there, I would get 95% out and be safe. I don’t care what their past history is.
I’ll stick with Countrywide Bank or similar FDIC insured accts!
ParticipantThe FDIC insurance rules are a bit complicated.
Joint accounts are considered to be 50-50, so
$100,000 in a joint account is $50K per SSN.If spouse A has $100K in their name only and a second $100K account is joint with Spouse B, spouse B will only get $50K from the insurance and Spouse A will get zero from the 2nd account.
CD penalties are listed on CW’s website, depends on the length.
Certain retirement accounts are FDIC insured up to $250K.
As long as you know the rules, I wouldn’t worry about FDIC insured accounts at Countrywide Bank.
Read the following, especially the part about POD accounts.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
Payable-on-death (POD) accounts – also known as testamentary or Totten Trust accounts – are the most common form of revocable trust deposits. These informal revocable trusts are created when the account owner signs an agreement – usually part of the bank’s signature card – stating that the deposits will be payable to one or more named beneficiaries upon the owner’s death.
The beneficiary must be the owner’s spouse, child, grandchild, parent, or sibling. Adopted and stepchildren, grandchildren, parents, and siblings also qualify….
In-laws, grandparents, great-grandchildren, cousins, nieces and nephews, friends, organizations (including charities), and trusts DO NOT qualify.
ParticipantThe FDIC insurance rules are a bit complicated.
Joint accounts are considered to be 50-50, so
$100,000 in a joint account is $50K per SSN.If spouse A has $100K in their name only and a second $100K account is joint with Spouse B, spouse B will only get $50K from the insurance and Spouse A will get zero from the 2nd account.
CD penalties are listed on CW’s website, depends on the length.
Certain retirement accounts are FDIC insured up to $250K.
As long as you know the rules, I wouldn’t worry about FDIC insured accounts at Countrywide Bank.
Read the following, especially the part about POD accounts.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
Payable-on-death (POD) accounts – also known as testamentary or Totten Trust accounts – are the most common form of revocable trust deposits. These informal revocable trusts are created when the account owner signs an agreement – usually part of the bank’s signature card – stating that the deposits will be payable to one or more named beneficiaries upon the owner’s death.
The beneficiary must be the owner’s spouse, child, grandchild, parent, or sibling. Adopted and stepchildren, grandchildren, parents, and siblings also qualify….
In-laws, grandparents, great-grandchildren, cousins, nieces and nephews, friends, organizations (including charities), and trusts DO NOT qualify.
ParticipantThe FDIC insurance rules are a bit complicated.
Joint accounts are considered to be 50-50, so
$100,000 in a joint account is $50K per SSN.If spouse A has $100K in their name only and a second $100K account is joint with Spouse B, spouse B will only get $50K from the insurance and Spouse A will get zero from the 2nd account.
CD penalties are listed on CW’s website, depends on the length.
Certain retirement accounts are FDIC insured up to $250K.
As long as you know the rules, I wouldn’t worry about FDIC insured accounts at Countrywide Bank.
Read the following, especially the part about POD accounts.
http://www.fdic.gov/deposit/deposits/insuringdeposits/index.html
Payable-on-death (POD) accounts – also known as testamentary or Totten Trust accounts – are the most common form of revocable trust deposits. These informal revocable trusts are created when the account owner signs an agreement – usually part of the bank’s signature card – stating that the deposits will be payable to one or more named beneficiaries upon the owner’s death.
The beneficiary must be the owner’s spouse, child, grandchild, parent, or sibling. Adopted and stepchildren, grandchildren, parents, and siblings also qualify….
In-laws, grandparents, great-grandchildren, cousins, nieces and nephews, friends, organizations (including charities), and trusts DO NOT qualify.
ParticipantFLU says it well.. Builders don’t want to lower the actual selling price. The illusion is protected.
BUGS can address this better, but the upgrades will be viewed differently to lenders and IF the appraisal (with upgrades)doesn’t meet the agreed selling price, financing will become a problem. Paying HOA’s, property taxes or other things actually reduce the selling price.
The real problem arises when someone agrees to pay $XXX and the appraisal is less. The dance begins.
I can never guarantee anyone that I can get them better financing than what a builder will offer, but it’s worth checking out. They squirm when they know that you are shopping.
The builder also adds to their profits by having a finger in the financing, and they play games with incentives.If you want upgrades, it’s kind of crazy to buy the builder base model at a cheap price, and then start making chenges on your own. You can probably save some cash, but may void some builder warranties etc.
Years ago in Florida there were stories of a new Cadillac in the garage when you bought a condo. That doesn’t work anymore. Lenders don’t lend that way.
Builders have some influence with “their” appraisers.
It’s not a bad idea for a buyer to get an appraisal from an independent to confirm current value.ParticipantFLU says it well.. Builders don’t want to lower the actual selling price. The illusion is protected.
BUGS can address this better, but the upgrades will be viewed differently to lenders and IF the appraisal (with upgrades)doesn’t meet the agreed selling price, financing will become a problem. Paying HOA’s, property taxes or other things actually reduce the selling price.
The real problem arises when someone agrees to pay $XXX and the appraisal is less. The dance begins.
I can never guarantee anyone that I can get them better financing than what a builder will offer, but it’s worth checking out. They squirm when they know that you are shopping.
The builder also adds to their profits by having a finger in the financing, and they play games with incentives.If you want upgrades, it’s kind of crazy to buy the builder base model at a cheap price, and then start making chenges on your own. You can probably save some cash, but may void some builder warranties etc.
Years ago in Florida there were stories of a new Cadillac in the garage when you bought a condo. That doesn’t work anymore. Lenders don’t lend that way.
Builders have some influence with “their” appraisers.
It’s not a bad idea for a buyer to get an appraisal from an independent to confirm current value.ParticipantFLU says it well.. Builders don’t want to lower the actual selling price. The illusion is protected.
BUGS can address this better, but the upgrades will be viewed differently to lenders and IF the appraisal (with upgrades)doesn’t meet the agreed selling price, financing will become a problem. Paying HOA’s, property taxes or other things actually reduce the selling price.
The real problem arises when someone agrees to pay $XXX and the appraisal is less. The dance begins.
I can never guarantee anyone that I can get them better financing than what a builder will offer, but it’s worth checking out. They squirm when they know that you are shopping.
The builder also adds to their profits by having a finger in the financing, and they play games with incentives.If you want upgrades, it’s kind of crazy to buy the builder base model at a cheap price, and then start making chenges on your own. You can probably save some cash, but may void some builder warranties etc.
Years ago in Florida there were stories of a new Cadillac in the garage when you bought a condo. That doesn’t work anymore. Lenders don’t lend that way.
Builders have some influence with “their” appraisers.
It’s not a bad idea for a buyer to get an appraisal from an independent to confirm current value.ParticipantBigT..
I’m talking about the BIG picture…
If the end is chemical/nuclear, it doesn’t matter what cabin you are in or your isolated island.JWM,, explain the macro/micro view for him please, I gotta go. Lobster is calling.
ParticipantBigT..
I’m talking about the BIG picture…
If the end is chemical/nuclear, it doesn’t matter what cabin you are in or your isolated island.JWM,, explain the macro/micro view for him please, I gotta go. Lobster is calling.
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