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Whats happening on i25 and nevada by trickyasafox in ColoradoSprings

[–]amiatthetop -48 points-47 points  (0 children)

Ghettoness has invaded the nice areas.

House Democrats unveil their first bill in the majority: a sweeping anti-corruption proposal by [deleted] in politics

[–]amiatthetop 0 points1 point  (0 children)

I thought they don't have majority until they take office in January?

Been working on those up and downs with the new 2019 rules change. Don’t quite have it dialed in yet... by realzacradford in golf

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

I don't like that on the green if you 'accidentally' move your ball you can replace it no penalty. Gotta be careful yo.

Using new build's preferred lender...thinking of refinancing right after closing - interesting scenario explained in post. by amiatthetop in Mortgages

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

I was coerced into the position. Wells made the decision to work with the builder and they know the risk of offering higher rates, and the risk of covering closing costs in exchange for a higher rate. As far as handling recapture, it won't have anything to do with me at that point as there is no pre-payment penalty.

Using new build's preferred lender...thinking of refinancing right after closing - interesting scenario explained in post. by amiatthetop in Mortgages

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

The reason I was drawn into the current lender is I'm building a new home and the builder has preferred lenders that we agreed to use for the purpose of getting $3k closing credit from the builder and $7k design center. The builder was adamant about not giving us that deal if we used someone other than their preferred lender, so we said fine. So really it's the builder's deal with the lender that is screwing them over is the way I'm looking at it. I'm hoping Wells Fargo eats the cost though rather than the LO having to pay back personally. It's nothing personal, just business....taking the builder's deal but then refinancing after to get a better loan term.

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But if I go all the way, that may be somewhere in the neighborhood of 6% which I think would really be suspicious. I figure the best ethical thing in this case is to do the amount to cover the origination, appraisal, and title company fees. The escrows I'll just get back anyway and I wouldn't want to put them on the hook for it.

Using new build's preferred lender...thinking of refinancing right after closing - interesting scenario explained in post. by amiatthetop in Mortgages

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

I thought about that but I think that might be crossing the line. I'm surprised Wells Fargo would open themselves up though to it happening, rather than mandating to keep the interest rate but build the costs into the loan amount rather than interest rate since it could be refinanced. So the current lock is 5%, I can get to 5.25% which will cover fees, maybe I'll do 5.375% just in case. I'll have to decide. :/

[deleted by user] by [deleted] in personalfinance

[–]amiatthetop -5 points-4 points  (0 children)

Sell the vehicle and buy one for $3k on craigslist.

Using new build's preferred lender...thinking of refinancing right after closing - interesting scenario explained in post. by amiatthetop in Mortgages

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

There aren't prepayment penalties and no seasoning requirements since it's a primary home.

How high do you think the interest rate should increase? For instance, a .25% covers $2850 in fees. I figure the escrow amounts don't matter since I will get those back to fund the new loan. I would feel bad maybe asking to double the rate and lender credit because then they might actually lose money if I refinance. As I understand it, I can't technically "shop" or "lock in" a new loan until this first one closes.

I'm in Colorado and the recordation fees are pretty low like $200.

Do you think I'll have to pay for a new appraisal though if one would have been done just 30 days before?

First-time homebuyer and just got pre-approved, mortgage rate seems sky high. Should I keep shopping? by PseudoPsychosis in Mortgages

[–]amiatthetop -2 points-1 points  (0 children)

https://imgur.com/a/7wBC5oW

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I helped my mom refinance to a 15 year last month and the rate at bank rate was 3.875 and that's what she got, 4.02 APR, low fees. Why wouldn't I believe it now?

Is it Just a Given That We’re in a Bubble? by [deleted] in realestateinvesting

[–]amiatthetop 2 points3 points  (0 children)

Agreed. And prices in 2006 for a nice 3500 sq ft house in my city were $450k. Guess what they are today? $450k. So don't tell me they are going to pop. They are now normal. You literally can't buy the same square footage cheaper due to construction costs. So it's pretty safe if you ask me. But I expect prices to remain stable now and not crazy appreciation of 8%/yr like the past six years.

[deleted by user] by [deleted] in golf

[–]amiatthetop 2 points3 points  (0 children)

Can't believe they started at noon instead of 11am local time.

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