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hellorhih2o
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no points, reasonable closing costs. how full of myself am i?
money for nothing and chicks for free...
money for nothing and chicks for free...
4.375% mortgage. f'k yeah!
- Thread starter hellorhih2o
- Start date
Good for you. I just got one and you did better. Of course mine is a 2nd, at 6%. To give you an idea how bad my credit is, I nearly had to get a fucking cosigner and I have 100% equity in this place. I told them either giving me the fucking money or im closing out both my accounts and going down the damn road. Fucking assholes. I am full of it with banks, lawyers, and fucking accountants. I have been non stop for a week and a half now dealing with legal shit. It's soon at an end. To long a story. Anyways, good for you again. And dont fuck your credit up!
hellorhih2o
New member
rnch said:
It's a 30 year mortgage with a five year "arm" which means that the rate can (and i'm sure will) change after five years. but i don't think i'll ever live in one place more than five years, so why would i care? if you truly want a 30 year fixed morgage, you'll definitely pay more.
rsnoble said:
thanks. I head ya about banks, lawyers and all that. they sure know how to take your time and make you jump through hoops. fortunately my credit is flawless so they can't get me there. i was also lucky to get it through one of the world's largest banks (HSBC) that's trying to break into the US market so they're willing to do almost anything to get customers.
hellorhih2o
New member
Re: Re: 4.375% mortgage. f'k yeah!
it's an arm (see my previous reply) and it's for a new property.
bignate73 said:
it's an arm (see my previous reply) and it's for a new property.
hellorhih2o
New member
vixenbabe said:
call a broker that's working with HSBC. I'm telling ya, they're willing to do ANYTHING for good customers.
FreakMonster
New member
hellorhih2o said:
Pretty good for a 5 yr ARM. After the 5th year the rate adjusts every year. You should have gone with a 5/25. It's less risky than the 5/1 ARM. After the 5th yr. on the 5/25 the rate adjusts to a fixed rate for 25 yrs. If you want the lowest rate I'd go with a 6 month LIBOR ARM Interest only. You can probably get 3% on this product. It's awesome because it provides you with much lower monthly payments while letting you build equity in your property at the same time. You elect how much you want to go into principal each month. It's greast for people who have a variable income of month to month. Also the LIBOR rate has always been lower than the conventional 30 yr. rate so you never have to worry about your rate going sky high. Let's say you were to borrow $240,000 at a 3% rate, your payment would be $600/month. You could take that extra money you save and put it towards principal.
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