Happy Monday

Guy Incognito said:
The worst experience we had was with an agency that had a lender in-house with the realtor. Once the realtor knew what we were approved for, he wouldn't show us anything below a certain price point, because he was intent on maximizing his commission and didn't care what we could actually afford. Wound up changing realtors after about a month. Dude acted surprised when we told him where we bought a house, like the town we told him was tops on our list was somehow completely out of the blue for us to buy in.
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We had a sit down with our realtor yesterday. She seemed pretty nice and helpful, but I'm sure they all do at first. Its their job. But the way she made it seem is she would push us to look at houses atleast 10-20k under what our pre-approval is. Because with the market and the way things are getting driven up quickly, we would probably find ourselves outbid a lot.

But i also have a meeting with our lender today because I wanted to ask her about getting approved for a little more. It was strange. She didn't pre-approve us for what she thought the max amount we could afford. Instead she pre-approved us for what we asked for. But when i saw what the monthly payments will be and that we could afford a little more per month, I want to see if she will pre-approve us for a little more. In case we absolutely love a house and need to up our bid a little.
 
RobBase (c) said:
Fees (and the way they are explained) can vary from bank to back but I’ll guess that one has to do w setting up his escrow. Getting his home taxes sorted out for him before close.

@RubinRock you planning to pay your taxes and insurance w your loan each month?
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I honestly don't know. I admit I'm pretty unaware about some things. Which is why someone recommended this realtor. She's someone that works a lot with first time home buyers. We sat down yesterday and she gave us a course on the whole process. She had mentioned something about it and that we'll go over all our options once i start actually looking at houses. I've researched a lot of stuff on my own, but she's definitely been a ot more helpful.
 
RobBase (c) said:
Fees (and the way they are explained) can vary from bank to back but I’ll guess that one has to do w setting up his escrow. Getting his home taxes sorted out for him before close.

@RubinRock you planning to pay your taxes and insurance w your loan each month?
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Yeah it's basically a blanket statement that really should read, "Fuk you fee"
 
RubinRock said:
I honestly don't know. I admit I'm pretty unaware about some things. Which is why someone recommended this realtor. She's someone that works a lot with first time home buyers. We sat down yesterday and she gave us a course on the whole process. She had mentioned something about it and that we'll go over all our options once i start actually looking at houses. I've researched a lot of stuff on my own, but she's definitely been a ot more helpful.
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It is always best to contact a realtor when looking for a house. You want to know if there are any unseen problems that exist. My sales team has excellent ratings from customers.
 
RobBase (c) said:
Fees (and the way they are explained) can vary from bank to back but I’ll guess that one has to do w setting up his escrow. Getting his home taxes sorted out for him before close.

@RubinRock you planning to pay your taxes and insurance w your loan each month?
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Probably the 4506C.
 
RubinRock said:
I honestly don't know. I admit I'm pretty unaware about some things. Which is why someone recommended this realtor. She's someone that works a lot with first time home buyers. We sat down yesterday and she gave us a course on the whole process. She had mentioned something about it and that we'll go over all our options once i start actually looking at houses. I've researched a lot of stuff on my own, but she's definitely been a ot more helpful.
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So you may have two options (you may also be forced to include them with your payment depending on how much your down payment is or isn’t). One is to include your taxes and insurance with your monthly payment. This is called principle, interest, taxes and insurance. Your payment would cover all of that.

Sometimes people prefer to pay them separately from their loan. This gives you a much lower monthly payment, but a large yearly (sometimes bi-annually) tax payment. Could be like 6k for example. Some people prefer to spread that out annually.

Typically your rate will be a bit cheaper when you waive escrow. Usually a half point or so.

Do you understand how rates and points work? Has your realtor discussed that w you? Points are money you pay up front to secure a lower rate over the life of the loan. For example, if you’re planning to stay in the home for 5+ years, you may want to invest now into a lower rate that will save you money in the long run. All about how soon you break even and how many months after that you are in the home.
 
RobBase (c) said:
So you may have two options (you may also be forced to include them with your payment depending on how much your down payment is or isn’t). One is to include your taxes and insurance with your monthly payment. This is called principle, interest, taxes and insurance. Your payment would cover all of that.

Sometimes people prefer to pay them separately from their loan. This gives you a much lower monthly payment, but a large yearly (sometimes bi-annually) tax payment. Could be like 6k for example. Some people prefer to spread that out annually.

Typically your rate will be a bit cheaper when you waive escrow. Usually a half point or so.

Do you understand how rates and points work? Has your realtor discussed that w you? Points are money you pay up front to secure a lower rate over the life of the loan. For example, if you’re planning to stay in the home for 5+ years, you may want to invest now into a lower rate that will save you money in the long run. All about how soon you break even and how many months after that you are in the home.
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yeah we discussed that. For us, we're not planning on staying in this house for long. A few years. So we were caring more about saving more up front.
 
basement bias said:
Trying to tough it out at work. Think the stomach bug is hitting. My aunt & cousins came over last night. Guess one of my cousins just got over it.
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What did you eat last night?
 
ill said:
I was expecting this this morning after eating salmon I had cooked earlier in the week

was not the case and I feel great
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79DBE9EA-9A14-4BA0-80B3-2684A3E98E9F.gif
 
gonna make this tonight...so if I didn't loosen it all up with that salmon, this will do it

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ThePeoplesChicken said:
chimichangas
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Its Always Sunny Film Noir GIF by It's Always Sunny in Philadelphia
 
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