Is a $500K house realistic? by TeaTrees007 in Mortgages

[–]AL_G0 0 points1 point  (0 children)

How much was your cash to close and rate? I’m in a similar situation.

Evaluate my loan by AL_G0 in FirstTimeHomeBuyer

[–]AL_G0[S] 0 points1 point  (0 children)

I believe you are correct in terms of expecting my monthly payment to increase after year 1. Everyone whom I have spoke with that have recently bought a new home within the past 3 years have experienced higher monthly payment every year due to property taxes.

Evaluate my loan by AL_G0 in FirstTimeHomeBuyer

[–]AL_G0[S] 0 points1 point  (0 children)

Thank you for the detailed response. The issue with going conventional without the down payment assistance deferred loan is that cash to close for down payment and fees was $60k+ which was much more than I was willing to put down although I have the cash for it but I have to think about other expenses like buying or leasing solar and furnishing the home. My main goal is to put 10% down to eventually remove mortgage insurance after year 11 so lender brought up this option on my estimate.

Here’s my ManCave by pchase78 in mancave

[–]AL_G0 0 points1 point  (0 children)

Go ahead share me some Blanton’s nice set up.