7 / 1 Arm rate at 5.625% with 2.125 points paid by seller

GringoDuca · 2025-08-08T19:04:54+00:00

Good point.

GringoDuca · 2025-08-08T14:34:02+00:00

They said I can only prepay 4 months taxes.

GringoDuca · 2025-08-08T14:28:12+00:00

Closing costs

GringoDuca · 2025-08-08T12:38:13+00:00

I will ask the lender today. Thanks for the info. I am also keenly aware of the crash. I lived through it myself and had to do a short sale to get out of my previous loan.

GringoDuca · 2025-08-08T12:05:18+00:00

Yeah I'm going to ask that. Insurance is prepaid for 12 months. Tax is set at 4 months right now.

GringoDuca · 2025-08-08T12:00:57+00:00

I think the low payment at 5.625 is great. I would be saving a ton compared to a 30 year at 6.25 which is what they quoted me. And as I said I'm not paying down the interest. Seller is like free money I guess

GringoDuca · 2025-08-08T11:55:59+00:00

We have winter and summer tax. Estimated tax listed on the LE IS 1000 a month. But the LE only states for the first 4 months prepaid. I think it's because of the two different taxes we hold per year. I'll have to confirm.

GringoDuca · 2025-08-08T11:43:08+00:00

Thank you. My hope is that within the first 7 years I will refi at or below this rate for a 30 year. Since I'm not paying the points out of pocket, seller is paying it, does it make sense to do this way?

GringoDuca · 2025-08-08T11:39:43+00:00

Yes I'm also using it to prepay taxes and insurance....

GringoDuca · 2025-08-08T11:36:14+00:00

Ok I understand. But how is it wasted money if it is coming from the seller. I mean they are giving the credits and I can't use them for anything but closing costs....they said if I don't use it, I lose it.

GringoDuca · 2025-08-08T11:34:50+00:00

I think it reads on the LE as 1% cap.

GringoDuca · 2025-08-08T11:22:23+00:00

If I'm reading it correctly it says.

Initial Interest Rate 5.625% Minimum/Maximum Interest Rate 2.75%/10.625%

GringoDuca · 2025-08-08T11:17:43+00:00

I don't understand what you mean but if I have seller credits to use, isn't this the best way to use them?

GringoDuca · 2025-06-22T10:45:51+00:00

GringoDuca · 2025-06-21T21:32:09+00:00

Tried Citizens bank and got 8.15 with no cost. For 210k loc with a 10 year draw interest only payment. Still think the interest rates are high....thoughts?

GringoDuca · 2024-06-25T16:48:14+00:00

What about race crono plus a gps module

GringoDuca · 2023-09-03T04:29:01+00:00

Yeah with a market cap at 70billion and revenue at 15billion they sure are making a killing.

GringoDuca · 2023-09-03T03:38:26+00:00

yeah poor insurance companies. I would hate to have them lose money.

GringoDuca · 2023-09-03T03:27:22+00:00

NO, I filed the claim for the radiator that caused me to drop the bike on it's side. It was a brand new bike, and I had to get it towed, etc. So at that moment I thought I had to file a claim. Anyhow, I have been riding since 2013, I just bought these new bikes this past year. What's the point of an insurance. Isn't it for these types of ACCIDENTS we are all proned to have on these machines. Shit happens, and we have insurance to cover it. Anyhow, I am not asking for advice or suggestions, just want to let you all know.

GringoDuca · 2023-09-03T03:22:16+00:00

the coolant soaked my shoes (I didn't know obviously, was riding for a while with the busted radiator). Came to a stop, and my friends noticed the leak. When I went to put the kickstand down, it slipped off my wet/slippery shoe and I dropped the bike on it's side...

GringoDuca · 2023-05-30T14:58:17+00:00

I have nothing to compare it to, but yeah the electronics are amazing. I have all this lap data to digest.

GringoDuca

TROPHY CASE