Advice needed on mortgage
Question: d not expect >that and was not warned about it. They offered me a 7.5 % interest with >zero points (they added a quarter % for origination fee) or 7.25% with >$2900 origination fee. Is this a good deal or can i get a better rate? >I also asked what would be the apr rate and they told me that they >can’t tell me until I apply with them, is this true? Is it difficult >for them to tell me what would the apr rate will be?
Answer: Rate quote from Mortgage co in central FL 2/3 AM is 6.75 and 0 pts and 0 originaion, rates still falling. Refinaces are starting again here in FL. Buyers here from upnorth from season are starting to buy the 2nd homes again. May change market fast as it looks like a sellers market is begining. Prices starting to go up on homes and the sellers seem not to be nogiating as much. WE have 6 contracts in our office this week, usually 6 in a month is average. I am very pleased to see this activity here in Florida.
Florida is the best re deals in the US and the most appreciation in the future, don’t listen to the those jerks trying to sell vertical property in the ice and snow. I’m a first time buyer of a new house. It is a new venture for me! I have a few questions. Is it possible to get “no assumable” with a fixed rate? I just bought a house for $156,705 with 5% down. The house will be ready in 7 months. What hit me when I visited a mortgage company is the closing costs ($4500) and the prepaid Items ($2500), I did not expect that and was not warned about it. They offered me a 7.5 % interest with zero points (they added a quarter % for origination fee) or 7.25% with $2900 origination fee. Is this a good deal or can i get a better rate? I also asked what would be the apr rate and they told me that they can’t tell me until I apply with them, is this true? Is it difficult for them to tell me what would the apr rate will be? Is it possible to include the closing cost in the loan or at least reduce the closing costs some how? is it possible to get a locked loan for 6 months with no fee?
I would appreciate any feedback on these questions! I know I asked a lot of questions, but I’m sure many people would be interested in the responses to these questions
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