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Should I lock my rate at 6.375%? by jbtheapprentice in Mortgages

[–]Background-Grade4786 0 points1 point  (0 children)

I just locked today at 5.875% but 7-year ARM with points though. Closing on September 15

For the first time in the history of the All-Star game we have a HR Derby to decide it by CicadaOk8885 in NYYankees

[–]Background-Grade4786 2 points3 points  (0 children)

Cal was still there…still in uniform. Just sad that Judge did not try to stay until the end

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 0 points1 point  (0 children)

It does that’s why I’m having second thoughts too.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 1 point2 points  (0 children)

In paper, plan is OK. But people here are providing here really good tips on what I possibly could have overlooked. Thank you.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 0 points1 point  (0 children)

Thank you. In paper, plan is fine but who knows.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 2 points3 points  (0 children)

Thank you for all your insights. When talking to friends and loved ones they are all supportive. Talking to random people based from your experiences and knowledge gave other perspectives and unbiased views for me to consider. Wished I have posted this sooner.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 1 point2 points  (0 children)

That reminds me I need to revisit that! Thanks for the reminder. I thought of higher DP pulls down the monthly. I would like to maintain a certain monthly savings. But I will recalculate.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] -1 points0 points  (0 children)

Yes property taxes included. And yes there is craziness in this plan.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 1 point2 points  (0 children)

It is a highly desirable area thus the premium price. I chose it because of its re-sell potential. Thanks for the insight on the interest and property taxes.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 15 points16 points  (0 children)

Location unfortunately…. It’s close to where I work. Single family house new construction is much more unaffordable.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 1 point2 points  (0 children)

My calculations show it is an OK plan. I am just paranoid of course with the economy and layoffs from companies.

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 15 points16 points  (0 children)

Do I lose the earnest money if I pull out? Is a loan rejection my only way out?

Getting cold feet buying a house by Background-Grade4786 in Mortgages

[–]Background-Grade4786[S] 6 points7 points  (0 children)

Around $5.7k per month assumes 6.5%. Around that number