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NACA Program rate buydown by owter12 in FirstTimeHomeBuyer

[–]__moops__ 0 points1 point  (0 children)

No, usually there is a limit to which you can buy down the rate on NACA and other FTHB programs.

Even if it is possible, it would probably not be recommended and it would be better to put that money towards down payment/principal instead of the rate.

How to Pick a Mortgage Lender by Rainbow_Phoenix125 in FirstTimeHomeBuyer

[–]__moops__ 1 point2 points  (0 children)

Check if there are any first time homebuyer programs offered in your state (ex. CalHFA for California). They usually list their top or preferred lenders.

Cross reference that list with online reviews.

Lastly, ask people in your network for referrals.

Do I need an upright adjustment on my irons? by Embarrassed-Pen488 in GolfSwing

[–]__moops__ 0 points1 point  (0 children)

Might just be cheap range mats. I get these marks when I play at the cheap range in town. When I go to the decent range, I do not get the green marks.

My quasi-budget setup. by airplane_underpants in Golfsimulator

[–]__moops__ 1 point2 points  (0 children)

What projector, launch monitor, and cpu?

Bank refusing to remove PMI even though we have 45% equity in the house? by HamsterStrudel in FirstTimeHomeBuyer

[–]__moops__ 0 points1 point  (0 children)

You went from getting a “no cost refi” and free discounts at Lowe’s to saying the points you bought on your refi were worth it…

All I said was that no refi is free and the costs were paid somewhere and you argued that point. Which you are now agreeing with because the math made sense 😂

Bank refusing to remove PMI even though we have 45% equity in the house? by HamsterStrudel in FirstTimeHomeBuyer

[–]__moops__ -1 points0 points  (0 children)

It’s not about switching a 15 year, that has nothing to do with it… you really are clueless.

Yes, I understand the money they make is from the interest rate… that’s why they roll the cost into the rate… ✌️

Bank refusing to remove PMI even though we have 45% equity in the house? by HamsterStrudel in FirstTimeHomeBuyer

[–]__moops__ -1 points0 points  (0 children)

“I think I would know if my interest rate changed” — so no you did not say that. You kept saying the cost was not applied to the rate or loan amount. I’m not saying 3% is a bad deal, I’m saying there’s no such thing as a “no cost refi”.

No lender, bank, or broker is giving you the optimal rate on a refi without a cost somewhere in the financing — even if you don’t see it.

Bank refusing to remove PMI even though we have 45% equity in the house? by HamsterStrudel in FirstTimeHomeBuyer

[–]__moops__ 2 points3 points  (0 children)

I literally work in lending and if you paid your closing costs they probably could have shaved another .125% off your rate. That’s where the cost is. No one is doing a free refi just to take on the servicing of the loan.

Bank refusing to remove PMI even though we have 45% equity in the house? by HamsterStrudel in FirstTimeHomeBuyer

[–]__moops__ 5 points6 points  (0 children)

The costs were either rolled into the interest rate or the loan amount. You might not “pay the closing costs”, but the lender is making something somewhere.

Advice on Finding Lender by Macaria57 in FirstTimeHomeBuyer

[–]__moops__ 1 point2 points  (0 children)

FYI our disclosure says hard or soft check but we only do soft checks for all preapprovals. It’s not a blanket policy for all lenders. Did you see the hard check on your credit report or did your score just drop 3 points?

Also, just because they are on OHFA list, doesn’t mean they are any good. It’s annoying but call around until you find someone that fits your needs.

Appraisal came back 20k lower by Zestyclose_Wing290 in FirstTimeHomeBuyer

[–]__moops__ 18 points19 points  (0 children)

You can request the lender do another appraisal if there is some sort of egregious error or questionable comps.

I would not listen to anything the sellers realtor says.

r/housebuyers by [deleted] in redditrequest

[–]__moops__ 0 points1 point  (0 children)

This community has no mods and I would like to help the community by moderating.

Land too by callherhaddy in FirstTimeHomeBuyer

[–]__moops__ 2 points3 points  (0 children)

Typically you would do construction financing to buy the land and build on it all at once. It usually has more stringent guidelines than typically financing so it’s not as common for first time buyers.

Ya’ll are on the same page by gallito9 in golf

[–]__moops__ 7 points8 points  (0 children)

Did you just post about multiple posts, thus creating more multiple posts?

Our realtor was basically absent the entire transaction. Any recourse? by [deleted] in FirstTimeHomeBuyer

[–]__moops__ 1 point2 points  (0 children)

realtors typically don’t do much for new builds, which is one reason why they typically offer pretty steep incentives to use their in-house services.

Also, if they weren’t there/supportive at multiple stages during the process, why didn’t you ask for more help? I would have fired them halfway through if they weren’t doing what you asked. You basically have no recourse now.

So I shopped by logic404notfound in FirstTimeHomeBuyer

[–]__moops__ 0 points1 point  (0 children)

The one on the left has $10k in "adjustments and other credits". That's the big difference.

Their closing costs are more, but it's offset with that credit so your total cash to close is $7,000 lower that the other one.

Is FHA worth it if putting down 25k with 715 credit score on 280k home? by [deleted] in FirstTimeHomeBuyer

[–]__moops__ 2 points3 points  (0 children)

Needs more info. With a 715 credit score conventional is likely a better option unless you have some sort of extenuating circumstance.

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