| Author |
Message |
    
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23678
Registered: 03-2008
Posted From: 107.77.75.113
| | Posted on Thursday, March 23, 2017 - 11:43 am: |
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Yeah tingu baa and lot of startup ipo money is flowing here |
Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51986
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Thursday, March 23, 2017 - 10:45 am: |
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Jaffaa:
bay area lo adi chala pedda prob, not to discourage you. chinese mana guj lekka, money pool chesi cash offers |
Musicfan
Bewarse Legend
Username: Musicfan
Post Number: 61546
Registered: 05-2004
Posted From: 63.169.138.2
| | Posted on Thursday, March 23, 2017 - 10:42 am: |
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Jaffaa:evado full cash icchi konnadu anta eedekka...ninna bid esamu, agent mail pettindhi podhuna
varni,, too much gaa
Katamarayudu Audio Review
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23677
Registered: 03-2008
Posted From: 107.77.92.34
| | Posted on Thursday, March 23, 2017 - 10:19 am: |
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evado full cash icchi konnadu anta eedekka...ninna bid esamu, agent mail pettindhi podhuna |
Simha
Pilla Bewarse
Username: Simha
Post Number: 281
Registered: 01-2013
Posted From: 161.167.229.18
| | Posted on Tuesday, March 21, 2017 - 2:51 pm: |
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mail chesa chudu gmail ki.
Old ID: KEDI
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Simha
Pilla Bewarse
Username: Simha
Post Number: 280
Registered: 01-2013
Posted From: 161.168.251.108
| | Posted on Tuesday, March 21, 2017 - 2:32 pm: |
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aimloan.com lo antha transperant ga untundhi. based on your score, sale price and loan amount ememi options untayo isthadu with closing cost estimation. dhanni reference ga pettukoni shop cheyyi. ARM's always risky.but naaku endhuko risk theesukovatam better anipinchi theesukunna. oo paali kwal kottu kudhirinapuudu
Old ID: KEDI
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23675
Registered: 03-2008
Posted From: 204.14.239.58
| | Posted on Tuesday, March 21, 2017 - 2:31 pm: |
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Musicfan:shopping cheyyandi jaffesh
MF bro repu offer accept iithe ganuka adhee pani  |
Musicfan
Bewarse Legend
Username: Musicfan
Post Number: 61504
Registered: 05-2004
Posted From: 63.169.138.2
| | Posted on Tuesday, March 21, 2017 - 11:31 am: |
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Jaffaa:30 yr fixed ki 4.65 interest rate, apr eemo 5.15% antunnadu icchaadu with 10% down
Tingari_xx:ekkuva anipistundi rangesh. local credit union ki po
shopping cheyyandi jaffesh
Katamarayudu Audio Review
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Gladiator
Pilla Bewarse
Username: Gladiator
Post Number: 478
Registered: 12-2012
Posted From: 199.204.159.4
| | Posted on Tuesday, March 21, 2017 - 11:26 am: |
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15 year fixed will be a better choice. ARMs are always risky and not recommended. |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23674
Registered: 03-2008
Posted From: 66.234.192.42
| | Posted on Tuesday, March 21, 2017 - 10:20 am: |
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tingu baa ninna lender ni adigaa, nuvvetu closing costs antha upfront kabatti neenudhi apr and interest rate same vuntadhi annaduu...
Yeah pre-approval tho bid vesthunnanu. Will shop around definitely.
Satti ee nayallu ARM loans ki minimum 20% vundali antunnaru if the loan amount is greater then 424k....i will check on the site you provided below... |
Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51949
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Tuesday, March 21, 2017 - 9:38 am: |
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Jaffaa: 4.65 interest rate, apr eemo 5.15% antunnadu icchaadu with 10% down
ekkuva anipistundi rangesh. local credit union ki po |
Simha
Pilla Bewarse
Username: Simha
Post Number: 279
Registered: 01-2013
Posted From: 161.167.229.18
| | Posted on Tuesday, March 21, 2017 - 9:37 am: |
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last 2-3 weeks nunchi peruguthundhi interest rate. alage ARM plans kuda oo pali look eyyi. useual ga almost 1% difference vasthundhi 5/1 ki 30 years fixed ki.
BOA vaadikante local lenders tho vellatam better final ga.
Old ID: KEDI
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23673
Registered: 03-2008
Posted From: 204.14.239.107
| | Posted on Monday, March 20, 2017 - 4:33 pm: |
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reasonable eena? idhi considering recent increase in the rate hike? |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23672
Registered: 03-2008
Posted From: 204.14.239.107
| | Posted on Monday, March 20, 2017 - 4:32 pm: |
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30 yr fixed ki 4.65 interest rate, apr eemo 5.15% antunnadu icchaadu with 10% down |
Gochi
Censor Bewarse
Username: Gochi
Post Number: 88097
Registered: 07-2004
Posted From: 8.7.228.252
| | Posted on Monday, March 20, 2017 - 3:34 pm: |
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Jaffaa:so pre-approval big banks dhaggara thecchi, actual lending mortgage lenders dhaggaraku veelloccha iithe?
yes...even I did the same...I got preapproval from BOA..and final mortgage from one of the local mortgage guy (The mortgage company) |
Simha
Pilla Bewarse
Username: Simha
Post Number: 278
Registered: 01-2013
Posted From: 161.168.251.108
| | Posted on Monday, March 20, 2017 - 3:16 pm: |
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vakies
Old ID: KEDI
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23671
Registered: 03-2008
Posted From: 66.234.192.42
| | Posted on Monday, March 20, 2017 - 3:09 pm: |
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satthi evening call chesthaanu |
Simha
Pilla Bewarse
Username: Simha
Post Number: 276
Registered: 01-2013
Posted From: 161.165.196.109
| | Posted on Monday, March 20, 2017 - 2:55 pm: |
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Gomesh. nenu 5/1 lock chesa. 2 weeks back. aimloan.com ooditho with 5% down. 2.87 kichadu. oopali look eyyi
Old ID: KEDI
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23670
Registered: 03-2008
Posted From: 204.14.239.107
| | Posted on Monday, March 20, 2017 - 1:58 pm: |
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ippude pre-approval ki docs icchi vocchaanu  |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2559
Registered: 04-2015
Posted From: 68.93.142.53
| | Posted on Monday, March 20, 2017 - 10:54 am: |
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Jaffaa:o pre-approval big banks dhaggara thecchi, actual lending mortgage lenders dhaggaraku veelloccha iithe?
yeah. I did the same thing .
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23669
Registered: 03-2008
Posted From: 66.234.192.42
| | Posted on Monday, March 20, 2017 - 10:48 am: |
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Kalikaalam:Except for pre-approval, it is not worth to go individually with big banks.
so pre-approval big banks dhaggara thecchi, actual lending mortgage lenders dhaggaraku veelloccha iithe? |
Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51937
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Monday, March 20, 2017 - 10:40 am: |
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Kalikaalam:
thxes |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2557
Registered: 04-2015
Posted From: 171.161.160.10
| | Posted on Monday, March 20, 2017 - 10:36 am: |
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Esscuseme:My suggestion is that never ever approach big banks directly for a mortgage loan
yeah. Except for pre-approval, it is not worth to go individually with big banks. Go to a reliable mortgage agent.
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2556
Registered: 04-2015
Posted From: 171.161.160.10
| | Posted on Monday, March 20, 2017 - 10:35 am: |
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Tingari_xx:
sent the scanned copy to you.
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51932
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Sunday, March 19, 2017 - 2:43 pm: |
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Esscuseme:
sounds silly, but it took me a month to realize what i got into 
costed me big time, in many ways. |
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1254
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Sunday, March 19, 2017 - 2:38 pm: |
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Tingari_xx:the numbers shown by the loan agent - 10% down payment aina 3.5% aina same monthly PMI soopinchaadu. so whats the big deal ani fha loan tiskunna , in spite of having solid money then.
but the original doc at signing had correct numbers, my mistake to not pay attention on that moment.
always carry the proposal to the signing, and compare both- ani realize ainaanu :-(
Dang! I always make sure that I utilize "Closing Disclosure's Three-day Rule" so that I review docs at leisure at my own schedule before actually closing. |
Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51931
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Sunday, March 19, 2017 - 2:08 pm: |
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Esscuseme:
the numbers shown by the loan agent - 10% down payment aina 3.5% aina same monthly PMI soopinchaadu. so whats the big deal ani fha loan tiskunna , in spite of having solid money then.
but the original doc at signing had correct numbers, my mistake to not pay attention on that moment.
always carry the proposal to the signing, and compare both- ani realize ainaanu |
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1253
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Sunday, March 19, 2017 - 1:36 pm: |
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Tingari_xx:
Tingari_xx:nenu sesina biggest mistake agent gaadu ichina lender tho velli, bayata shop seyaledu. vaadu wrong numbers choopinchaadu, mistake or deliberate.
final signing apudu aa hadavidi lo numbers choodaledu. ipudu anubhavinching
check with local credit unions, always.
Tingari bro, sorry to hear this. Which state is this. if you don't mind can you elaborate on mess up that agent did, what sort of wrong numbers he showed. See if you still have recourse. |
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1252
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Sunday, March 19, 2017 - 1:24 pm: |
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Jaffaa:guruji kodhiga lenders details eemanna thelisthe cheppandi bay area loo
naaku major banks thappa eemi pedda idea leedhu....inka credit checks eemi run chepiyyaledhu, planning to go tomorrow and talk to wellsfargo as well
listing agent gaadu wed afternoon ki bids closing annaadu....neenu oka agent thooni matlaadi pettaanu
My suggestion is that never ever approach big banks directly for a mortgage loan - time waster, high interest rate and they care damn to direct consumer meeting their timelines. The same banks will work efficiently with brokers. Moreover, each bank you approach will do a separate credit check.
Instead go with a reputable broker or good credit union. The advantage with broker is that he will have access to easily 30-40 banks to up to hundreds. So, with one credit check he can shop for good rate based on your FICO score among the banks he has access to.
Credit unions usually give best rates and customer service is very accessible.
It's been a while since I worked with a broker so cannot recommend any. However, I've had butter smooth refinance experience with StarOne CU and PenFedCU (both easy to get membership). Usually they both have competitive rates. I have not checked lately their interest rates.
Another avenue is usually real estate agents have access to good mortgage brokers. if you are comfortable based on your confidence levels with your agent, talk to his brokers and see what they offer. The advantage is your is agent will push for you to make sure deal closes on time.
Couple of points to note whoever you go with
- Don't pay origination fee and points
- Usually brokers get 1.25% of loan amount as commission on top of everything. You can ask for some percentage out of it towards your closing costs. This does not work with credit unions though.
- make sure pre-payment penalty checkbox is checked inadvertently by clerical error. This becomes damn expensive. (This box should not be checked)
- Last but not least, see if you have an option to docusign the papers and store electronically. CA has tons paperwork to sign |
Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51930
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Sunday, March 19, 2017 - 11:23 am: |
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Jaffaa:naaku major banks thappa eemi pedda idea leedhu.
nenu sesina biggest mistake agent gaadu ichina lender tho velli, bayata shop seyaledu. vaadu wrong numbers choopinchaadu, mistake or deliberate.
final signing apudu aa hadavidi lo numbers choodaledu. ipudu anubhavinching
check with local credit unions, always. |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23668
Registered: 03-2008
Posted From: 66.234.192.42
| | Posted on Sunday, March 19, 2017 - 10:59 am: |
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Esscuseme:You don't need to go with BoA, you can shop around to find your own broker/agent but make sure the align with your contract dates (thats imp). X number of credit enquiries in a month period should not impact your credit history as they account all the enquiries as part of mortgage shopping. But don't go too overbaord, 5-6 is the norm.
guruji kodhiga lenders details eemanna thelisthe cheppandi bay area loo
naaku major banks thappa eemi pedda idea leedhu....inka credit checks eemi run chepiyyaledhu, planning to go tomorrow and talk to wellsfargo as well
listing agent gaadu wed afternoon ki bids closing annaadu....neenu oka agent thooni matlaadi pettaanu |
Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51926
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Friday, March 17, 2017 - 4:51 pm: |
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Kalikaalam:
thx. naadi FHA loan kakapothe, have to see if it works for me |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2554
Registered: 04-2015
Posted From: 68.93.142.53
| | Posted on Friday, March 17, 2017 - 4:48 pm: |
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But, mine is not from quicken loans, but he read line to line the same matter, but I'll scan and send it to you anyway.
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2553
Registered: 04-2015
Posted From: 68.93.142.53
| | Posted on Friday, March 17, 2017 - 4:47 pm: |
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Kalikaalam: I'll upload to any public share site and will post a calling thread
I think this is what exactly he told over phone-
One-Unit Primary Residence or Vacation Home
If the residence is your single-family primary home or second home, your mortgage insurance will be canceled automatically in either of the following scenarios, whichever happens first:
The LTV reaches 78% (and you didn’t make extra payments to get it there)
You reach the midpoint of your mortgage term (15 years on a 30-year mortgage, for example)
To give these numbers some context, if you had a 10% down payment at an interest rate of 4.0%, you’ll reach 78% LTV after 81 months. The same scenario with a 5% down payment would take 104 months. The auto cancellation occurs as long as you’re current on your payments.
If you don’t want to wait for it to auto cancel, you have some options. If your LTV reaches 80% through payments, you can request cancellation.
Fannie Mae and Freddie Mac both allow you to make extra payments on the balance in order to get down to 80% faster.
If you’ve made home improvements to increase your equity by increasing your property value, Fannie Mae requires that you have 75% or less LTV before they will take off mortgage insurance. Freddie Mac leaves the requirement at 80%. All improvements have to be called out specifically in a new appraisal.
If you’re requesting removal of your PMI based on natural increases in your property value between two and five years after your loan closes, both Fannie Mae and Freddie Mac require a new appraisal, and the LTV has to be 75% or less. If your removal request comes more than five years after your closing, the LTV can be 80% or less with a new appraisal. These requirements apply to insurance removal based on market value increases not related to home improvements.
Read more at https://www.quickenloans.com/blog/mortgage-insurance-when-you-can-get-rid-of-it# zRpq4RmFkToQYuYt.99
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51925
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Friday, March 17, 2017 - 4:46 pm: |
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Kalikaalam:pedalanka
mailed |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2552
Registered: 04-2015
Posted From: 68.93.142.53
| | Posted on Friday, March 17, 2017 - 4:43 pm: |
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Tingari_xx:edaina doc vunte name block chesi scan cheyandi. nenu maa vaadni demand seyachu
He told that he will send the physical copy of PMI disclose to me. I may get it today or tomorrow. please send your email (my id is pedalanka at gmail dot com)so that i'll send it to you.If that is not comfortable to you, I'll upload to any public share site and will post a calling thread
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
|
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23658
Registered: 03-2008
Posted From: 204.14.239.58
| | Posted on Friday, March 17, 2017 - 4:29 pm: |
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Esscuseme:If it is at 6%, seller agent and buyer agent share 3% each. The buyer agent representing you will share % to you. All for doing some paper work and walking thru with you till deal closes.
got it bro, thanks again for patiently answering all my questions to you, gochi, kk and kubang ji's in this thread |
Kubang
Celebrity Bewarse
Username: Kubang
Post Number: 33649
Registered: 09-2011
Posted From: 161.141.1.1
| | Posted on Friday, March 17, 2017 - 3:49 pm: |
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Musicfan:I got 15 years at 2.675% interest. I dont think the rates will go down beyond this..
Ignorance is bliss
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Musicfan
Bewarse Legend
Username: Musicfan
Post Number: 61471
Registered: 05-2004
Posted From: 63.169.138.2
| | Posted on Friday, March 17, 2017 - 3:47 pm: |
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Esscuseme:
yes nenu refinance chesina last two times I got money back each time around 2.5k.. after 0 closing.. Appraisal kooda vade chesadu. I didnt have to literally pay anything for my last two times.
I got 15 years at 2.675% interest. I dont think the rates will go down beyond this..
Winner Audio Review
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Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1251
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Friday, March 17, 2017 - 3:31 pm: |
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Musicfan:
bayarea is whole different ball game. Desis and chinkus dominate here like crazy, no choice for desi v/s non-desi agents here, it's all about GREEN. You would be surprised that non-desi agents know more Indian culture than some of the indians know - for eg they know if you are Tamil, you like south facing homes, if you are telugu, you like east facing etc etc. and some of them read vaastu books along with feng shui books. I guess it's all about market dominance. |
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1250
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Friday, March 17, 2017 - 3:27 pm: |
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Jaffaa:
nirmohammatam ga, don't even think twice. there are umpteen agents willing to work for you for business. It's win-win for them, they get business and they share commission with you. In this case with very minimal or no work for them because you already identified the property.
If it is at 6%, seller agent and buyer agent share 3% each. The buyer agent representing you will share % to you. All for doing some paper work and walking thru with you till deal closes.
If you go with seller agent, then you can give your offer at lower price + you get little more % from the agent. You might ask why would seller entertain you. There is advantage to seller too. Right off the bat he saves giving 1% commission (instead of 6% seller will give only 5%), thats why even though your price is lower he will entertain because he will save 1%. On top of it, as per papers he will be selling at lower price which will be beneficial for his taxes (thats a whole different subject). |
Musicfan
Bewarse Legend
Username: Musicfan
Post Number: 61469
Registered: 05-2004
Posted From: 63.169.138.2
| | Posted on Friday, March 17, 2017 - 3:24 pm: |
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Jaffaa:esscuseme bro, upfront adigeyyocchaa buyer/seller agent ni ilaa naaku 1 - 1.5% ivvali ani deal ok iithe?
detroit lo desi home lenders, real estate agents arachakam chesaru ..
Illu konte 3% lo sagam enakki ivvatam, loan teeskonte varying amount return ivvatam..
oka desi non-desi daggara illu konatam apesaru, loan teeskovatam apesaru..
monna oka non-desi realtor godavettadu you guys are messing up whole thing ani..
Winner Audio Review
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Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51920
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Friday, March 17, 2017 - 3:15 pm: |
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Esscuseme:
got it, thanks. will again check with them. monthly pmi kadtunte khaluk antundi |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23654
Registered: 03-2008
Posted From: 204.14.239.58
| | Posted on Friday, March 17, 2017 - 3:07 pm: |
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esscuseme bro, upfront adigeyyocchaa buyer/seller agent ni ilaa naaku 1 - 1.5% ivvali ani deal ok iithe? |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23653
Registered: 03-2008
Posted From: 204.14.239.58
| | Posted on Friday, March 17, 2017 - 3:03 pm: |
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Dobbey:WFH teeskoni FL vachi konukko .. mansion vsathadi ...
hd fulltime thesukundhi wfargo loo so unko 3 - 4 years ikkade ani decide iyyaanu |
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1249
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Friday, March 17, 2017 - 2:35 pm: |
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Tingari_xx:
Tingu bro, PMI removal LTV % depends on various factors. It is not flat 80 - 20% always. the factors include type of property (SF, TH, Condo, Multi Unit), type of loan FHA, Fannie Mae, Freddie Mac etc, how long have you been having this loan (for eg >5years or < 5years)
78% does not seem to be unreasonable. However, you should ask for manager and request on how they arrived at 78% instead of 80%. If they justify based on their reasoning, there is nothing much left for you but if you politely argue there is always a chance. btw, In some cases they don't need to do a full appraisal, they can just do online appraisal as well.HTH |
Dobbey
Mudiripoyina Bewarse
Username: Dobbey
Post Number: 22688
Registered: 12-2009
Posted From: 204.16.161.12
| | Posted on Friday, March 17, 2017 - 2:29 pm: |
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WFH teeskoni FL vachi konukko .. mansion vsathadi ...
•••••
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Dobbey
Mudiripoyina Bewarse
Username: Dobbey
Post Number: 22687
Registered: 12-2009
Posted From: 204.16.161.12
| | Posted on Friday, March 17, 2017 - 2:29 pm: |
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property vaadiki lenders untaru gaa.. aadu entha cheppaadu kanukoo
•••••
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Dobbey
Mudiripoyina Bewarse
Username: Dobbey
Post Number: 22686
Registered: 12-2009
Posted From: 204.16.161.12
| | Posted on Friday, March 17, 2017 - 2:25 pm: |
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Jaffaa:Gochi baa 3 bed 2 bath condo idhi...1350 sqft
529k pettadu listing neenu rent chesthunna community loone, property tax 1.2% and hoa 500 per month... so adhe aalocchisthunnaanu
•••••
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Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51919
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Friday, March 17, 2017 - 2:16 pm: |
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Kalikaalam:
edaina doc vunte name block chesi scan cheyandi. nenu maa vaadni demand seyachu  |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2551
Registered: 04-2015
Posted From: 171.161.160.10
| | Posted on Friday, March 17, 2017 - 1:46 pm: |
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Tingari_xx: avanni kudaradu ani seppadu
yendukante. nenu adigaanu?"Why 78%? is it not 80%" ani.Vaadu- "naaku theliyadu.Ikkada vunnadi chaduvuthunnaanu" ani cheppaadu
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51918
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Friday, March 17, 2017 - 1:44 pm: |
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Kalikaalam:
wlls fargo vadni adigithe avanni kudaradu ani seppadu. inko saari rayi estaa |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2550
Registered: 04-2015
Posted From: 171.161.160.10
| | Posted on Friday, March 17, 2017 - 1:43 pm: |
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Tingari_xx:which bank?
CENLAR mortgage
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51917
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Friday, March 17, 2017 - 1:28 pm: |
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Kalikaalam:"if you believe that your home value increased the loan is 78% of the value, please send us a home appraisal report or we will get done and you got to pay the home appraisal fee irrespective of the outcome" ani cheppaaru.
which bank? |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2549
Registered: 04-2015
Posted From: 171.161.160.10
| | Posted on Friday, March 17, 2017 - 1:24 pm: |
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Jaffaa:Ninna banker ni kanukkunte PMI poodhu mallaa refi chesthe thappa andhi mari
I called my mortgage company just few days back and was told by them "if you believe that your home value increased the loan is 78% of the value, please send us a home appraisal report or we will get done and you got to pay the home appraisal fee irrespective of the outcome" ani cheppaaru.
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1248
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Friday, March 17, 2017 - 1:20 pm: |
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Kubang:
kubang bro, 529k steal annattu. if you go into san jose sorroundings, 1.2mil for 3 bed 2.5 bath decent townhouse. that too if you get lucky with all the multiple offers. |
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1247
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Friday, March 17, 2017 - 1:17 pm: |
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Jaffaa:
Yes, usually banks ask to have reserves. Whether banks ask or not, it's always good idea to have 6-9 months of reserves for any untoward happenings or for rainy day.
You don't need to go with BoA, you can shop around to find your own broker/agent but make sure the align with your contract dates (thats imp). X number of credit enquiries in a month period should not impact your credit history as they account all the enquiries as part of mortgage shopping. But don't go too overbaord, 5-6 is the norm. |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23652
Registered: 03-2008
Posted From: 204.14.239.54
| | Posted on Friday, March 17, 2017 - 1:14 pm: |
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tingu baa and kubang bro
Bayarea market crazy gaa vuntadhii
I pay 2.1k rent for 1bed 1bath...vadevadiko samarpinchukune badulu idhi better gaa ani thought anthey
Gochi baa
Bofa tho vellali ani eem ledhu, but current banking antha bofa nee so anthukani vaadini kanukkunna ninnaa
I will look around wellsfargo gatra |
Tingari_xx
Bewarse Legend
Username: Tingari_xx
Post Number: 51916
Registered: 08-2006
Posted From: 76.109.163.196
| | Posted on Friday, March 17, 2017 - 12:10 pm: |
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Kubang: aa rates endi saami..
naak sound ledu, calm ga post seyaledu anduke.
sfo area is crazy. maa area lo 300k house akkada 2mil pettina raadu anta |
Kubang
Celebrity Bewarse
Username: Kubang
Post Number: 33648
Registered: 09-2011
Posted From: 161.141.1.1
| | Posted on Friday, March 17, 2017 - 12:08 pm: |
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Jaffaa:Gochi baa 3 bed 2 bath condo idhi...1350 sqft
529k pettadu listing neenu rent chesthunna community loone, property tax 1.2% and hoa 500 per month...
 aa rates endi saami..
Ignorance is bliss
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Gochi
Censor Bewarse
Username: Gochi
Post Number: 88095
Registered: 07-2004
Posted From: 8.7.228.252
| | Posted on Friday, March 17, 2017 - 11:09 am: |
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aina BOFA daggara deniki mortgage,vaadu manchi rates ivvadu...just preapproval ki vaadi daggariki poyi actual mortgage verey vaalla daggara theesukovaali...you can shop around even on zillow for mortgage rates... |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23651
Registered: 03-2008
Posted From: 66.234.192.42
| | Posted on Friday, March 17, 2017 - 11:04 am: |
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Kalikalam bro thanks for the info
Ninna banker ni kanukkunte PMI poodhu mallaa refi chesthe thappa andhi mari |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2548
Registered: 04-2015
Posted From: 171.161.160.10
| | Posted on Friday, March 17, 2017 - 7:45 am: |
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Jaffaa:7/1 thesukoni, 10% down katti....20% reach iyyaka refi chesdham ani
PMI ki, type of loan ki sambhandam ledu. yeppudu inti value 78% avuthundo( I am not sure why it is 78% and not 80%) appudu nuvvu home appraisal report isthe, PMI pothundi.Kaani, personal gaa I am not comfortable with ARM as I got bokka with my previous home.
But, if you are sure that you can repay most of your loan(If not fully), then you may be Okay..You are the best judge.
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Lovebewarsetalk
Kurra Bewarse
Username: Lovebewarsetalk
Post Number: 4435
Registered: 08-2014
Posted From: 125.99.159.178
| | Posted on Friday, March 17, 2017 - 7:43 am: |
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Jaffaa:
At what stage in the buying process, do they give house-warming party? I think it is now, the stage that you are in...come on, where is the party I say...
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23650
Registered: 03-2008
Posted From: 66.234.192.42
| | Posted on Friday, March 17, 2017 - 7:42 am: |
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Two more things
Property pent house
Bofa vaadu 6 months ki saripada reserves choopettali antunnadu...ee point negotiable. Eena??
Also multiple banks dhaggara prequalification try cheyyocchaa ...does it have effect on the credit history? |
Kalikaalam
Kurra Bewarse
Username: Kalikaalam
Post Number: 2547
Registered: 04-2015
Posted From: 171.161.160.10
| | Posted on Friday, March 17, 2017 - 7:40 am: |
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Jaffaa:4.75 APR which include PMI (because of 10% down) 4.25 APR + separate PMI
You have to pay PMI if your down payment is less than 20%. That is the law.
7 years arm depends up on how fast you are going to repay your loan. If you can not repay before that(most of them can not), nobody knows what is going to be the interest rate at that time.So, I'd prefer 30 year fixed. If at all you have the ability to repay, you can pay much before that period anyway.
"The first principle is that you must not fool yourself and you are the easiest person to fool.” —Richard Feynman
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23649
Registered: 03-2008
Posted From: 66.234.192.42
| | Posted on Friday, March 17, 2017 - 7:32 am: |
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Sure essvusme bro
Neenu rent chesthunna community loone ee condo...ninna office nunchi vosthaa velli choosamu....bane vundhi property...
Hoa expensive ee definite gaa...kakapothe earthquake insurance included annaadu...but not covering intlo belongings...
Regarding selling with in 2 years sure definite gaa kanukkuntaanu...mallaa weekend open house vundhi, kanukkuntaanu... |
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1246
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Friday, March 17, 2017 - 1:55 am: |
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Jaffaa:
Caps are important to note. For some idea watch this video https://www.youtube.com/watch?v=4Us6TjerX7s
Also, it's not mandatory to refinance after 5 years. After 5 years interest rate will change every year with in your loan cap rates. You can decide at that point of time whether to refinance or continue.
Home looks good and at that price point in bay area, I am sure there will be good interest from buyers. Usually by April/May bay area market heats up for summer and school year. What I've heard this year bay area market started showing signs of heat already in March. So, if all aligns and you like the property, you might better off locking in asap.
One thing though $500 HOA is steep. Did you find out how has it been over the YoY increase in HOA fees. that should give an idea what you should expect for next five years. FYI, HOA & PMI are not tax deductible.
I am sure you must be knowing but just in case, If you have realtor representing you, you can ask up to 1.5% money back towards your closing cost. If you are going with seller agent you can push upto 2 to 2.5%
not a red flag but the seller seems to be selling within 2 years, you might want to find out the reason why he is selling quick as he there is not a whole lot $$$ appreciation for him after realtor fees etc.} |
Gochi
Censor Bewarse
Username: Gochi
Post Number: 88094
Registered: 07-2004
Posted From: 64.121.67.210
| | Posted on Thursday, March 16, 2017 - 9:44 pm: |
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Jaffaa:
Illu baagundhi jaffesh..7/1 arm is good.. |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23648
Registered: 03-2008
Posted From: 107.77.75.124
| | Posted on Thursday, March 16, 2017 - 9:22 pm: |
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Here is what I am thinking
7/1 thesukoni, 10% down katti....20% reach iyyaka refi chesdham ani...appudu ee PMI gola pothundhi kadhaa
Eemantaro cheppandi |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23647
Registered: 03-2008
Posted From: 107.77.75.124
| | Posted on Thursday, March 16, 2017 - 9:20 pm: |
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Walnut creek enter bro
Gochi baa 3 bed 2 bath condo idhi...1350 sqft
529k pettadu listing neenu rent chesthunna community loone, property tax 1.2% and hoa 500 per month... so adhe aalocchisthunnaanu
I think I will go with 7/1 arm with 10% down |
Entrepreneur
Kurra Bewarse
Username: Entrepreneur
Post Number: 2398
Registered: 05-2011
Posted From: 75.115.125.99
| | Posted on Thursday, March 16, 2017 - 8:56 pm: |
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jaffa where in bayarea are u buying?
www.investormonk.com
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Kubang
Celebrity Bewarse
Username: Kubang
Post Number: 33647
Registered: 09-2011
Posted From: 50.66.0.62
| | Posted on Thursday, March 16, 2017 - 8:52 pm: |
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Gochi:
I agree with most of what you said with the exception of one thing. My guess is that interest rates would be somewhat (if not a lot) higher in 5 years than today. the current (what we have seen in the last 4 years) interest rates are lowest in history, don't expect them to last much longer.
Ignorance is bliss
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Gochi
Censor Bewarse
Username: Gochi
Post Number: 88093
Registered: 07-2004
Posted From: 64.121.67.210
| | Posted on Thursday, March 16, 2017 - 8:00 pm: |
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I would go with 5/1 arm jaffesh..bcos you are comparing 30 year fixed at 4.75 vs 3.25 for 5/1 arm. Mortgage rates just went up and in 5 years time they may come down. So appati daaka 4.75 kottinchukotam dhandaga. If you were at 3.5 for 30 year fixed vs 3.25 for 5/1 arm then i would go with 30 fixed.
Asalu if you can afford, better go with 15 yr fixed. But 550k is a huge amount and i am not sure if 15yr fixed is affordable..west coast lo unnaava, entaa rates deenemma condo ki... |
Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23646
Registered: 03-2008
Posted From: 204.14.239.58
| | Posted on Thursday, March 16, 2017 - 6:27 pm: |
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Kubang:If you decided to go on ARM type mortgage; what are the rates for a 5 year and 7 year terms? I mean fixed interest rate, am assuming that the lender will not be able to change the rate in that 5 or 7 year period.
guruji rough ga 3.25 to 3.5 andhi banker for 7/1 ARM
esccuseme bro:
"ARM or Fixed depends on how long you plan to stay in the home. If this is your first home or starter home, I am sure you will want to sell and buy next home in 5-7 years. If thats the case then 5/1 would make sense. "
yeah this is my thought process too
"If you plan to go with ARM, make sure what the + or - caps are and life time max, just in case you are stuck with 5/1 even after the five year period.
"
what are caps? and lifetime max eemiti, eedhanna links vunte padeyyandi chosthaanu....
5/1 iithe after 5 years definite gaa refinance cheyyali kadhaa....how are we stuck on it? |
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1245
Registered: 03-2005
Posted From: 104.183.243.230
| | Posted on Thursday, March 16, 2017 - 6:05 pm: |
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ARM or Fixed depends on how long you plan to stay in the home. If this is your first home or starter home, I am sure you will want to sell and buy next home in 5-7 years. If thats the case then 5/1 would make sense.
Given the recent interest hike, keep in mind they will be in upward trajectory from now on. Atleast there will be one more FOMC meeting this year with interest rake hike.
If you plan to go with ARM, make sure what the + or - caps are and life time max, just in case you are stuck with 5/1 even after the five year period.
HTH, hit me up with any further questions. good luck. |
Kubang
Celebrity Bewarse
Username: Kubang
Post Number: 33646
Registered: 09-2011
Posted From: 161.141.1.1
| | Posted on Thursday, March 16, 2017 - 5:46 pm: |
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Jaffaa:
If you decided to go on ARM type mortgage; what are the rates for a 5 year and 7 year terms? I mean fixed interest rate, am assuming that the lender will not be able to change the rate in that 5 or 7 year period.
Ignorance is bliss
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23645
Registered: 03-2008
Posted From: 204.14.239.58
| | Posted on Thursday, March 16, 2017 - 5:11 pm: |
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guruji
ARM ante idhi
https://en.wikipedia.org/wiki/Adjustable-rate_mortgage
basical gaa 7/1 ARM means, my understanding is 7 years varaku fixed interest vuntadhi (which is lower than the 30year or 15 year fixed) and then we have to refinance based on the interest rates at that time...
naaku ee ARM ee better option anipisthundhi....etu condominium ee kaabatti, 7 years tharuvatha upgrade avuthaamu...tharuvatha maaredhappudu idhi ammeesi, next veredhi chosukovatam better ani |
Kubang
Celebrity Bewarse
Username: Kubang
Post Number: 33644
Registered: 09-2011
Posted From: 161.141.1.1
| | Posted on Thursday, March 16, 2017 - 4:49 pm: |
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for example, I took 25 year amortization and 5 year fixed interest rate when we bought home 12 years ago. after 5 years when it was time for renewal, I opted for 15 year amortization and again 5 year fixed interest term. half way through that term, I renewed it with 5 year amortization and paid off the home in 10 years total. It was possible because I took the advantage of 20% extra payments both in principle and monthly payments every year.
again my advise to anyone in your situation: take the shortest amortization that you could afford. difference between 5 year fixed term or 7 year term would be a simple math. look at total outlay from your pocket and decide.
I think you guys have an advantage of interest write off from your taxes, which we don't have. I didn't take that into consideration.
Ignorance is bliss
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Kubang
Celebrity Bewarse
Username: Kubang
Post Number: 33643
Registered: 09-2011
Posted From: 161.141.1.1
| | Posted on Thursday, March 16, 2017 - 4:41 pm: |
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konchem options clear ga chepthe I can try to help you with the math. ee ARM language naaku ardham kaadu, its US specific.
bottom line in my view: take the lowest period for total amortization (of course with in your affordability) and pay off the loan sooner regardless of interest rates. that way total (principle + interest) amount out of your pocket is lesser compared to any other model.
Ignorance is bliss
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Jaffaa
Mudiripoyina Bewarse
Username: Jaffaa
Post Number: 23644
Registered: 03-2008
Posted From: 204.14.239.58
| | Posted on Thursday, March 16, 2017 - 4:25 pm: |
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Need help
ARM 5/1, 7/1
30, 15 year fixed
eedhi better
ippude bofa kelli vocchaanu
550k condo ki 10% kadithe ee numbers cheppindhi (still need to run the credit checks etc)...
4.75 APR which include PMI (because of 10% down)
4.25 APR + separate PMI
3.25 7/1 ARM
20% reach iyyaka malla refi cheyyocchu antundhi....
actual ga 10% kante ekkuva ante kastam avuthundhi, so anthukee alochisthunna eedhi better ani... |
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