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TheLorax
LOVE
Member since 2/06 5581 total posts
Name:
Suzanne / SuzBride
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Follow Up Survey - For those who locked in within the last few months
DH said our rate was bad because we aren't putting down 20% and we don't have many assets (we are 1st time home owners) - so for those who have rates that are low 6s or 6 or in the 5s, my question is:
1) Is this your first home?
2) Are you putting down 20% or more?
This stinks.
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Posted 12/21/06 8:42 AM  |
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Prudential Douglas Elliman Real Estate
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Follow Up Survey - For those who locked in within the last few months
Yes - our first home
No - we arent putting 20% down. we arent paying PMI and we dont have a second mortgage - its 5.875% for one whole mortgage
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| Posted 12/21/06 8:44 AM |
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PotofLuck06
Our Baby Boy Is Here!!!
Member since 11/06 13241 total posts
Name:
Betsy
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Re: Follow Up Survey - For those who locked in within the last few months
Posted by TheLorax
DH said our rate was bad because we aren't putting down 20% and we don't have many assets (we are 1st time home owners) - so for those who have rates that are low 6s or 6 or in the 5s, my question is:
1) Is this your first home?
2) Are you putting down 20% or more?
This stinks.
1. Yes, first home
2. We're putting 20% down (thus no PMI or points)
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| Posted 12/21/06 9:11 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Follow Up Survey - For those who locked in within the last few months
those two factors shouldnt matter when given your interest rate anyway  because the first mortgage (usually) is only for the first 80% anyway...and if you pay pmi you'll have the same rate for the entire mortgage.
and points wouldnt matter either - points are only to buy down your rate.
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| Posted 12/21/06 9:18 AM |
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Smileyd17
kids
Member since 5/05 20997 total posts
Name:
Mommy
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Re: Follow Up Survey - For those who locked in within the last few months
Yes-1st home
and
-we put under 20%
I also know we dont have the best credit so that affected our rate of 6.75%
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| Posted 12/21/06 9:49 AM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Follow Up Survey - For those who locked in within the last few months
First home
We are putting around 38-40% down
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| Posted 12/21/06 9:59 AM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Follow Up Survey - For those who locked in within the last few months
Posted by Meaghan729
Yes - our first home
No - we arent putting 20% down. we arent paying PMI and we dont have a second mortgage - its 5.875% for one whole mortgage
Who did you go with?
We were recently pre-approved - we would be financing 100% with two mtgs. The 80% portion we were quoted a 6.375% - We both have a credit score of 750+.....
I think we'll have to do some more mortgage shopping!
ETS: Just rec'd pre-approval ltr...it's 6.375% not 6.5%
Message edited 12/21/2006 12:21:04 PM.
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| Posted 12/21/06 10:07 AM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Follow Up Survey - For those who locked in within the last few months
Yes, first home.
No, we did not put down 20%. If you would like more info, FM me!
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| Posted 12/21/06 10:09 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Follow Up Survey - For those who locked in within the last few months
Posted by lorich
Posted by Meaghan729
Yes - our first home
No - we arent putting 20% down. we arent paying PMI and we dont have a second mortgage - its 5.875% for one whole mortgage
Who did you go with?
We were recently pre-approved - we would be financing 100% with two mtgs. The 80% portion we were quoted a 6.5% - We both have a credit score of 750+.....
I think we'll have to do some more mortgage shopping!
you have FM!
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| Posted 12/21/06 10:21 AM |
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Bobfan24
LIF Infant
Member since 5/06 250 total posts
Name:
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Re: Follow Up Survey - For those who locked in within the last few months
Meaghan, can you FM me too? I am in a very similar situation as lorich and was not happy with my rate....
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| Posted 12/21/06 12:18 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Follow Up Survey - For those who locked in within the last few months
I went with Bank of America - we didnt have to pay PMI bc of a program they have for City Teachers.
But I shopped around, and If you have good credit, you should be getting 6% on the first mortgage.
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| Posted 12/21/06 12:25 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: Follow Up Survey - For those who locked in within the last few months
yes, first home. no, no 20%.
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| Posted 12/21/06 1:03 PM |
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