2006-10-04 02:51:04 · 6 answers · asked by Dmitriy B 1 in Business & Finance ➔ Renting & Real Estate
We just purchased a home last month. We included the closing cost on our 30 year loan also. It did not change the interest rate at all. It only added about $2.00 to the monthly payment. It is definitely the way to go. Takes alot less money out of your pocket while trying to get settled into your new home.
2006-10-04 02:56:11 · answer #1 · answered by girlajeepin 2 · 0⤊ 1⤋
Definitely. It will not effect the interest rate, and it will only increase the payment about 4 or 5 dollars per month. Take the money you were going to spend on closing costs and buy some furniture or some upgrades.
2006-10-04 03:01:15 · answer #2 · answered by kidd 4 · 0⤊ 1⤋
NO!!!
Why include such a minimum amount of $$$...For a 30 year period!!!
Don't know ya' closing cost...Generally between $2,000.00 - $4,000.00...BUT when ya' multiply that by say, 6.8% for 30 years, OMG!!!...As ya' know the closing cost, do ya' math wisely!!!
NEVER include ya' property taxes or, home owners insurance in with ya' monthly mortgage, either!!!
I have my home owners insurance on same account as my auto etc. insurance...Hence: BIG discount...Hence: $$$ in ya' pocket!!!
As a homeowner for many years...I NEVER escrow for taxes and, insurance!!!
I've also taught many other ppl NOT to as well!!!
Why should ya' $$$ sit in ya' mortgage company's bank account???...When it can sit in ya' own bank account and, grow interest!!!!
2006-10-04 03:12:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I didn't, but if you can't afford it up front then go ahead. the best thing to do is to pay an extra 100.00 per month or more toward the principal on the loan. I have literally saved thousands and my house is almost payed for by doing this. good luck
2006-10-04 02:54:35 · answer #4 · answered by Anonymous · 0⤊ 1⤋
you could attempt to get the seller to comply with pay the final fees or your lender pays them with top type pricing. the two way, you are the guy who will pay. If the seller will pay, you pay greater for the domicile. If the lender will pay you get a greater physically powerful value.
2016-12-12 20:21:55 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Absolutely, it will not affect you rate at all, for an addition $5k for seller's concession, it an additional $35 on the monthly note. Do it.
2006-10-04 02:57:57 · answer #6 · answered by asajous 2 · 0⤊ 1⤋