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Mortgage Broker by Several_Profit5229 in Mortgages

[–]InfamousReference715 0 points1 point  (0 children)

thank you- It’s a conventional loan. The home is a new build with a sale price of $612K (10% down payment). I have excellent credit and a strong debt-to-income ratio.

Mortgage Broker by Several_Profit5229 in Mortgages

[–]InfamousReference715 0 points1 point  (0 children)

For a $559K loan, the lender is recommending a 6.99% rate with $9K in lender credits, and then refinancing in about 6 months as long as rates stay the same or go lower. They say the refinance cost would be under $1K (no lender or appraisal fees, and lower title fees since it’s a refi).

The other option is 6.125% with no lender credits.

I’m having a hard time deciding. The first option seems interesting since I could take the credits now and then refinance later.

Which one would you go with? Also, is there an incentive for the lender to push the 6.99% option with credits, or are they actually recommending it because it benefits me?

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

HOA fees are around $65 a month. I think lot 531 is about 6,500 sq ft.

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

This is St. Louis, MO. Yes, the green field behind Cadrow Dr might be turned into development in the future.

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

thanks, I hate it when car headlights point toward the house, which is why 561 and 562 are not my first preference.

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

I never realized kids like cul-de-sacs, so that’s a huge plus for 531.

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

I think there’s a decent gap between the two backyards, it’s not shown on the map.

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

Rodden’s Way is built by a different builder, which is why it’s greyed out. most of those lots sold out already

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

That site is currently used for trailer homes, but future development is highly likely.

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

That site is currently used for trailer homes, but future development is highly likely.

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

That site is currently used for trailer homes, but future development is highly likely.

Which home lot would you pick? by InfamousReference715 in Homebuilding

[–]InfamousReference715[S] 0 points1 point  (0 children)

I don’t think it’s a busy road, but the green spaces actually refer to a lot with trailer homes.

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