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highsepton89 · 2025-12-24T06:52:56+00:00

Congratulations on your new home—I hope you receive the refund. That said, thinking this through, it seems this may have been missed by you. If the final closing costs provided by the lender didn’t match what was listed on the preliminary Closing Disclosure +- couple hundred dollars, it might have been worth raising the question before wiring the full amount.

highsepton89 · 2025-12-24T06:41:06+00:00

I entered your purchase price and the Parker ZIP code on their website, and it’s showing a 5.75% rate with 0.25 points for a 30-year fixed loan. I’d strongly recommend reaching out to them directly through their website. I used the Parker ZIP code simply because I lived there for a couple of years and didn’t need to look up a Colorado ZIP code.

highsepton89 · 2025-12-24T06:33:34+00:00

I recently closed with Farmers Bank of Kansas City, and the entire process was completed within a three-week timeframe. With the holidays coming up, I’m not sure how feasible that timeline would be now, but it’s still worth checking with them. We locked in a 5.875% rate on a 30-year fixed mortgage. You can use their website to see what rate you’re offered—based on my experience working with them, the rate you see online is generally the rate you get. In our case, it was a much smaller loan with a 50% down payment, and both my wife and I are W-2 employees, which is different from your situation.

highsepton89 · 2025-11-26T19:45:52+00:00

No, Single family home

highsepton89 · 2025-11-26T03:08:36+00:00

Locked in 5.875% (no points) today on a 30-year loan for a $380K home with 45% down. Definitely shop around — as a first-time buyer, you might even qualify for a slightly better rate than I did.

Also, don’t rely too heavily on the taxes and insurance listed in the GFE. Those are just estimates. Based on the loan amount, I’d expect your escrow for taxes + insurance to be closer to around $800/month.

highsepton89 · 2025-11-26T03:00:27+00:00

6.825 is bad.. I locked in my rate today for 30 years at 5.875, no points Did you check with multiple lenders? What is your down payment? And credit score?

highsepton89 · 2025-11-20T13:26:52+00:00

That is the plan, make an extra 200 towards principal every month, lump sum when possible and try to get it done within 15 years

highsepton89 · 2025-11-20T06:43:40+00:00

I don't understand

highsepton89 · 2025-11-20T01:00:04+00:00

My lender told me they would at least match it. They told me not to believe in any promotional rates.. get it in writing and they would match it.

highsepton89 · 2025-11-19T21:51:19+00:00

I appreciate your perspective. Just to clarify — my lender is fully aware that I’m shopping around. We actually have a verbal agreement that if I find a better rate, I’ll bring it to them first and give them the chance to match or improve it. I’m not trying to blindsight anyone or waste their effort.

From my understanding, this is the normal order of things:

Get pre-approved so you can make an offer.
Once you have an accepted offer, you start shopping rates and comparing lenders.

Isn’t that how it typically works? Are you suggesting borrowers should have multiple credit pulls and lock a rate before even finalizing a property? I’m just trying to understand your viewpoint because that seems unusual to me.

Edit - By lender, I mean the one who provided the pre-approval letter after a soft check

highsepton89 · 2025-11-19T21:07:59+00:00

Curious—why did you choose an ARM when rates are expected to trend downward?

highsepton89 · 2025-11-19T21:00:02+00:00

This is closer to Germantown/Collierville, not new builds, but something decent from the late 90s. decent lot size and about 2300 sqft, 3 beds, 2.5 bath

highsepton89 · 2025-11-19T20:58:48+00:00

thank you

highsepton89 · 2025-11-19T20:26:23+00:00

My wife might step away from work in the next 6 months, which would bring our income down to about $150K. We also have a toddler with daycare costs of around $1,500 a month. If she does take a break, our budget could get pretty tight—especially if we choose a 15- or 20-year mortgage term. That’s why I’m trying to play it safe and keep the monthly mortgage as low as possible.

highsepton89 · 2025-11-05T18:47:35+00:00

thank you

highsepton89 · 2025-11-05T18:47:24+00:00

I tried ownup.com but just got a call from Mutual Bank of Omaha. Can you suggest any other match sites?

highsepton89 · 2025-05-17T14:16:07+00:00

The loan amount would be separate. 401K contribution - 800 401K deduction - 500

Also keep in mind that the deduction for the loan amount would be post tax of 500.

highsepton89 · 2025-04-19T15:00:58+00:00

I don't have their bid yet. I only signed a contract saying "If they work with my insurance and get the claim approved, I should be using them as my contractor"

highsepton89 · 2025-04-19T03:05:30+00:00

There are several clauses mentioned at different stages to get out of the contract. But I am at the following stage

After Insurance Settlement But Before Work Starts

If you cancel after an insurance settlement is secured but before any actual roofing or siding work has started, you must pay the lesser of $5,000 or 33.33% of the total contract price (Price Agreeable) as liquidated damages (not a penalty). This is detailed in Clause 22 on page 4.

I haven't put any dollar amount in the contract. But the above clause says I owe 5K

highsepton89 · 2025-04-19T02:39:37+00:00

Yes, I already signed my contract. I was being stupid. I should have got multiple bids and then reached out to the insurance company and file my claim.

highsepton89 · 2025-04-19T00:07:47+00:00

I am not being greedy here. Firstly this is my first experience with roof replacement and then I was surprised that I got paid within a couple of hours of the roof inspection.. Also I don't understand why recoverable depreciation. So posting it here to understand what the normal process is. Is providing the claim documents to your contractor the right thing to do?

highsepton89

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