Some people tell me i am paying way to much and that the bank can discount them and or eliminate some of them. Is this to much? Can someone tell me?
2007-11-24 05:17:49 · 5 answers · asked by Todd B 1 in Business & Finance ➔ Renting & Real Estate
i am paying 138,000. borrowing 137,000 my annual taxes aee 1800. homeowners is 800 and i am paying no points.
2007-11-24 05:36:49 · update #1
yes, I think that is too much ! I live in upstate Ny also,and my closing costs were only $3,200.
Talk to the bank about it, even ask the seller to pay part or all of them.
2007-11-24 05:27:02 · answer #1 · answered by country_girl 5 · 0⤊ 1⤋
That might be high or it might be low or it might be just about right. Without knowing all of the particulars on the deal it's impossible to say.
Would need to know the purchase price, amount of down payment, the total amount being borrowed, the annual property taxes and homeowners insurance costs, how many points you're paying on your loan, etc. to evaluate whether you're getting a good deal or are getting the shaft.
Just becase someone else paid only "X" dollars is meaningless. Depending upon the numbers, you may be getting a good deal and they may have gotten the shaft. If you're buying a $350,000 home, $6,500 would be an excellent deal. If you were buying a $50,000 property, $3,200 would be a ripoff.
2007-11-24 05:32:13 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Yes, that seems VERY high. Get a second opinion from a trusted lender, or use a pricing service such as Mortgage Zapper.
2007-11-24 10:37:56 · answer #3 · answered by Anthony 3 · 0⤊ 0⤋
thats about right unless you get something called sellers assist
2007-11-24 06:13:05 · answer #4 · answered by andyjtaylor2000 3 · 0⤊ 0⤋
yes you do
2007-11-24 05:27:05 · answer #5 · answered by Jon H 1 · 0⤊ 2⤋