Thanks MOrtgage Experts..

Discussion in 'Credit Talk' started by roni, Mar 14, 2001.

  1. roni

    roni Well-Known Member

    I telephoned the real estate office today and spoke with the manager. This is what she said about their program. I can put 3% down and they pay closing cost. They have a special program in that I have 5 % interest rate the first year, 6% the second year and then 7% fixed rate. They sounded good to me but what do I know.

    My mortgage, taxes and insurance etc. will run me a little over $1,200/mo. I thought that was reasonable.

    I can get up the down payment somehow, one way or the other. Thank you for talking me out of the more expensive choice. I am very happy with this one.

    I dont have time off work so I have to swing by there Saturday and put this project in the working.

    This board really came thru for me this time. I knew the right questions to ask this lady today. Thanks again.

  2. Nave

    Nave Well-Known Member

    Good luck! Roni, It's a great feeling! Let us know how things go.

  3. Newcomer

    Newcomer Well-Known Member

    Hey Roni,

    That's a 2/1 Buydown which is really popular right now. Sounds like they are going to pay the money to buy down the rate for the first two years which is really good. I hope it works out for you.

    Good Luck!!!!!!
  4. mother2

    mother2 Well-Known Member

    Good Luck Roni

    You'll do just fine! :eek:)

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