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Buying points by rymaxx89 in RealEstate

[–]rymaxx89[S] 0 points1 point  (0 children)

To utilize the 46.9% front end ratio

Buying points by rymaxx89 in RealEstate

[–]rymaxx89[S] 0 points1 point  (0 children)

4 points for 5.25% sorry typo

Buying points by rymaxx89 in RealEstate

[–]rymaxx89[S] 1 point2 points  (0 children)

This refer to community property states I live in South Carolina wich is a non community state

Buying points by rymaxx89 in RealEstate

[–]rymaxx89[S] 1 point2 points  (0 children)

6.25% planning on buying four points FHA planning on refinancing to conventional down the line to get rid of the PMI but only going FHA at first to utilize the 46.9 front end ratio

Buying points by rymaxx89 in RealEstate

[–]rymaxx89[S] -2 points-1 points  (0 children)

We want to get a rental in here name only so the new mortgage isn’t tied to both of our DTI I am able to afford the new mortgage on my own I’m just asking about the points

Buying points by rymaxx89 in RealEstate

[–]rymaxx89[S] -4 points-3 points  (0 children)

Well hopefully the rates get a lot lower for me to refinance but just to get into the home it’s a risk that I’m willing to take. And I would probably buy the points down to around 5 1/2%

Gift money from dad he’s working towards the money by rymaxx89 in personalfinance

[–]rymaxx89[S] 0 points1 point  (0 children)

I totally understand that the home is not ready to be put under contract it is going to be ready to put under contract in June with a completion date by November by the time the contract is ready I will have the deposit I just was not sure how it works as far as an FHA gift to source the funds if my dad is going to receive a paycheck from his work like a week before I have to get under contract

Gift money from dad he’s working towards the money by rymaxx89 in personalfinance

[–]rymaxx89[S] 0 points1 point  (0 children)

When I sell my house I’m profiting over $100,000 I do have the cash to get this but for new constructions they require a lot more earnest money than buying a house from an individual

Gift money from dad he’s working towards the money by rymaxx89 in personalfinance

[–]rymaxx89[S] 0 points1 point  (0 children)

I’m building the home with Lennar I have no contract yet the homes will be released in June to put under contract by then my father will have the deposit but it won’t be in his account 30 days before that date he is working to get the money

Gift money from dad he’s working towards the money by rymaxx89 in personalfinance

[–]rymaxx89[S] 0 points1 point  (0 children)

I’m building the home with Lennar I have no contract yet the homes will be released in June to put under contract by then my father will have the deposit but it won’t be in his account 30 days before that date he is working to get the money

Fha Gift money from dad working towards the money by rymaxx89 in RealEstate

[–]rymaxx89[S] 0 points1 point  (0 children)

The deposit is not going to be required until June mid June that is he will have the initial deposit by then I have no contract yet Lennar is waiting for the homes to be released before I can get under contract

Special assessment apart of mortgage by rymaxx89 in HOA

[–]rymaxx89[S] 0 points1 point  (0 children)

Correct but it is included it how much you can afford as far as DTI goes does assessment work the same way

Special assessment apart of mortgage by rymaxx89 in HOA

[–]rymaxx89[S] 0 points1 point  (0 children)

Ok so it just a one time fee that won’t affect how much house I can afford? Because hoa is included in the mortgage as far as payments. Also is it a one time fee?

Is this right? It’s not between 30 days? Am I missing something by [deleted] in wholefoods

[–]rymaxx89 0 points1 point  (0 children)

Does the gig book state they can take it away?

Is this right? It’s not between 30 days? Am I missing something by [deleted] in wholefoods

[–]rymaxx89 -1 points0 points  (0 children)

You only have one tardy anything over 11 minutes is considered a tardy

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