Mortgage experts

roybean · 06-10-2006, 05:57 PM

So do we have any mortgage experts on board? This is one of the things I want to take care of very soon.

Hedwig · 06-10-2006, 10:56 PM

Do you know who any are at DB or who were at AoC? Maybe we could invite them to join.

roybean · 06-11-2006, 12:43 AM

Quote:

Originally Posted by Hedwig

Do you know who any are at DB or who were at AoC? Maybe we could invite them to join.

I know one, now that you mention it. I will ask him and see if he can spare some time.

William Tygart · 06-12-2006, 11:39 PM

Sombody lookign for a mortgage guy?

Okinawa? You know I lived in Machimanato (near Naha) when I was a kid and the second time around I was a student at Kubasaki........Love the island, miss it dearly.

roybean · 06-13-2006, 12:16 AM

Quote:

Originally Posted by William Tygart

Sombody lookign for a mortgage guy?

Okinawa? You know I lived in Machimanato (near Naha) when I was a kid and the second time around I was a student at Kubasaki........Love the island, miss it dearly.

We kill bills here in Okinawa.....ROFLMAO!

Glad you dropped by!

Qtip · 06-13-2006, 12:18 AM

Welcome to our humble site bill!

kwimberl · 06-13-2006, 12:39 AM

hmm...450 fico eh? YUCK!

Hedwig · 06-13-2006, 04:15 AM

Welcome, Will and kwimberl. Good to have some mortgage folks here.

Now we need to find people to ask them questions.

roybean · 06-13-2006, 09:57 AM

As I said, this is my next challenge and I used the calculator at 6.5%, but I see all over the web offers of 200,000 mortgage for 650.00 a month or the like, but I guess that's for people with excellent credit. I want a house damn it!
Kinda makes me mad, because I had one bad spell and my credit was fine and it's like people are so unethical that they do anything to get money. Lawyers, bill collectors, the court system, ....

The things that I have learned since I started doing this and think about the people who still don't or may never know???

Qtip · 06-13-2006, 10:31 AM

Quote:

Originally Posted by roybean

As I said, this is my next challenge and I used the calculator at 6.5%, but I see all over the web offers of 200,000 mortgage for 650.00 a month or the like, but I guess that's for people with excellent credit. I want a house damn it!
Kinda makes me mad, because I had one bad spell and my credit was fine and it's like people are so unethical that they do anything to get money. Lawyers, bill collectors, the court system, ....

The things that I have learned since I started doing this and think about the people who still don't or may never know???

There are tons of programs, It took me a year with a good mortgage broker to find the one for me. Usually the low ones are promotional rates to hook you and then they throw the sink at you

This is what I was able to do and considering it was not to bad and got me in the house I wanted.

Fico 720 trough 735 on all the big three.

House cost 450k

10 percent down

80 percent loan interest only "NO income No job verrification" 6.75 percent

I needed the loan likes this because I would have not qualified for a conventional loan due to the Income/expense ratio. Altough I pay every month towards the principal, I wanted interest only . This allows me the flexibility of paying more on the months that I can and paying less on the months that I cant. Also when I did this loan I planned on and have been apliying my entire incometax return towards the principal every year.

10 percent seccond loan at 12.0 percent for 15 years "I refinanced 2 weeks after closing into a 6 percent 10 year loan!".

I would have never been able to do that if it was not for the help I received in numerous boards. I am certain that the experts here will lead you on the right dirrection. I am looking for investment properties myself now that the market is soft and will definetelly benefit from their expertise!

roybean · 06-13-2006, 12:10 PM

Quote:

Originally Posted by Qtip

There are tons of programs, It took me a year with a good mortgage broker to find the one for me. Usually the low ones are promotional rates to hook you and then they throw the sink at you

This is what I was able to do and considering it was not to bad and got me in the house I wanted.

Fico 720 trough 735 on all the big three.

House cost 450k

10 percent down

80 percent loan interest only "NO income No job verrification" 6.75 percent

I needed the loan likes this because I would have not qualified for a conventional loan due to the Income/expense ratio. Altough I pay every month towards the principal, I wanted interest only . This allows me the flexibility of paying more on the months that I can and paying less on the months that I cant. Also when I did this loan I planned on and have been apliying my entire incometax return towards the principal every year.

10 percent seccond loan at 12.0 percent for 15 years "I refinanced 2 weeks after closing into a 6 percent 10 year loan!".

I would have never been able to do that if it was not for the help I received in numerous boards. I am certain that the experts here will lead you on the right dirrection. I am looking for investment properties myself now that the market is soft and will definetelly benefit from their expertise!

That's what I would need where I can pay more or less because that's what I do with my bills anyway. That way when I'm a little short folks don't sweat me cause I am usually ahead.

DallasLoanGuy · 06-13-2006, 02:56 PM

450 fico?

Hedwig · 06-14-2006, 12:30 AM

450 FICO is a rank. This board uses FICO and cards like many boards use things like New Member, Sr. Member, Veteran or whatever.

Keep posting and you'll rise quickly.

Hedwig · 06-14-2006, 12:31 AM

I appreciate your support of veterans, DallasLoanGuy.

kwimberl · 06-14-2006, 04:13 PM

How come this board does not notify me of a reply?

kwimberl · 06-14-2006, 04:15 PM

Quote:

Originally Posted by roybean

As I said, this is my next challenge and I used the calculator at 6.5%, but I see all over the web offers of 200,000 mortgage for 650.00 a month or the like, but I guess that's for people with excellent credit. I want a house damn it!

That is a bit deceptive. They are using an option arm for that scenario. However, if you make that minimum payment, the loan will neg am on you!

roybean · 06-14-2006, 04:51 PM

Quote:

Originally Posted by kwimberl

How come this board does not notify me of a reply?

Email notication is something that you set up when you sign on or are you saying that you DID do this and it's not working?

roybean · 06-14-2006, 04:52 PM

Quote:

Originally Posted by kwimberl

That is a bit deceptive. They are using an option arm for that scenario. However, if you make that minimum payment, the loan will neg am on you!

Well, please school me because I am looking at plans and persuing buying options.