If so, are you happy with the deal?
2006-10-28 09:00:35 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Not this time. I paid cash for this one. I have been screwed on enough mortgages & re-fi's to last me a lifetime.
2006-10-28 10:11:20 · answer #1 · answered by Sharingan 6 · 0⤊ 0⤋
This are the things you have to consider
1-Do you need the money to buy your next house?
2-Are you getting a good down payment?
3_Are you going to escrow the Real Estate taxes (very important)
4-You have to check the credit of the buyer
5-Get a good lawyer (he can give you more points to look for)
If everything is ok. then is a good deal because the interest rate will be higher than regular savings vehicles
2006-11-05 15:12:35 · answer #2 · answered by lm050254 5 · 0⤊ 0⤋
Yes! Our situation was hard to get approved anyway with a discharged bankruptcy in March of this year. (We bought our home in May of this year). We did a 75% LTV with a 25% seller 2nd and came to closing with only $400. The seller only wanted so much out of the deal, so the 2nd mortgage was cancelled after 5 months. So the over $20,000 worth of equity is now ours and our note is very, very low and affordable! So yes, we are pleased, especially with this being our first home and the arrival of our first baby in July! God worked everything out perfectly!
2006-11-05 12:05:38 · answer #3 · answered by New Mom35 2 · 0⤊ 0⤋
Happiness is a state of mind. That being said, if you have done your homework, asked questions of your broker or lender, understood that EVERYTHING is negotiable, you will be an educated customer.
Educated customers tend to be happier because they don't have to think if they got the best deal possible. They in fact did.
2006-11-02 20:56:04 · answer #4 · answered by ga_rei_guy 3 · 0⤊ 0⤋
I did last year in August for 5.8175%, and about 3000 in closing costs...i bet if i had looked harder i could have found a better deal, but i don't think i got screwed.
2006-10-28 16:23:08 · answer #5 · answered by Anonymous · 1⤊ 0⤋