redsox9547

If you have a VA loan now, and are trying to do a VA IRRL (streamline), Freedom Mortgage (retail side) will do it without an appraisal..they are doing mine now NOO and no appraisal..

Without being an expert, I can assure you that's too high....that's essentially 2% points/origination fee (including junk fees) for 5.25%...Navy Federal Credit Union for example you can get 4.75% at 1.25% points/origination for FHA....your Loan Officer will be making a lot off you IMO. As far as the 3.5%, that's a separate amount. If the purchase price is really $130k (I am not sure what it is). You will really be paying: $130,000 - 3.5% ($4550) = $125450. So, you'd need to bring the following to closing: $4550 - $3900 (3% of selling price) + closing costs (not including MIP as that can be financed). So, IMO, based upon this GFE, you'd need to bring about $5300 to closing bottom line. Note this finances your funding fee. If you want to pay the FHA MIP funding fee in cash, you'd bring about $7500 to closing and your principle will be a little lower. I know you can save $1300 or so by getting a better deal on the lender (800 series) charges. Stay far away from all those junk fees..you can do better than that!

Just so you know..everywhere in the USA, the government ONLY offers flood insurance policies through FEMA...no conventional insurance company offers flood insurance...some companies like USAA sell it onbehalf of FEMA as their agent, but at the end of the day FEMA is the insurance company.

This is for my step sister. Note: It is for a condominium and rates as of 16 October 2009 Scores: all 3 barely over 620 Purchase Price: $155,000 Base Loan Amount: $139,500 Loan Amount with MIP and prepaid interest: $141,941 10% Down Interest rate 5.25% FHA Condominium 30 year fixed in Los Angeles County, California Discount points: 1.375 or $1951.68 Appraisal: $495 Credit Report Fee: $35 Origination Fee: $965 FHA MIP: $2441.25 Prepaid Interest: $612.60 EntitleDirect will do her title and settlement work (I recommended them) My main concern is lender charges and points. How does this look for a condo in Los Angeles? Thanks, redsox9547

$499 processing fee? Wow...that's a lot of profit for a little bit of work...

I'm guessing a recurring cost would be: 1. Daily Prepaid Interest (since it occurs everyday) Nonrecurring cost: 1. Escrow Fee 2. Documentation Fee 3. Search Fee 4. Survey Fee 5. Flood Certification Fee Charges of this nature. Thoughts?

Three things could happen (I am guessing, the pros can clearify): 1. You pay the difference in cash. 2. You walk away 3. Seller reduces price.

Bump

Type: 15 year VA Loan, refinance Date of GFE: 19 May 2009 Rate: 4.75% (fixed) Value $425,000 Loan: $415,000 State: California Origination Fee: $0 Discount Points: 0 814 Flood determination Fee $7 905 VA (IRRL) Fee $2075 1101 Settlement Fee: $500 (actual price) 1108 Title Insurance (Lender) $378.50 (actual price) 1201 Recording Deed: $90 901 Prepaid Interest: $1026.13 1001 Hazard Insurance Escrow: $228.26 1004 County Property Tax Escrow: $2213.55 Total: $6018.44

Also try PENFED...3.99% same difference! GAP insurance if you need it will be cheaper through them then a dealer.

Easy fix: Pay your monthly payment on time... It amazes me how people that pay their bills late or don't pay it at all complain when the bank tries to get their property, don't understand it... Lets say you gave me $1000 and I said I will pay you back in a month, then 57 days later I guess I'll pay, how would you feel? I understand everyone has life issues, but if I had a life issue I couldn't make a payment, I'd call my lender, work it out and move on with life, and not let it get to the point where I have to worry about this. Also, almost every lender has direct debit payments available...Do that, nothing will ever be lost... Instead of complaining on the board about how the bank and repo man is evil, wouldn't it be better suited to ask for advice on budget issues and how to ensure the payment is made every month on time per the promissary note YOU SIGNED and help others in the same boat so we can work together to help everyone achieve financial independence and financial maturity? These kinds of posts make me explode, and I am sure others too, but I'm willing to post my feelings....Most people are saying the same thing in their mind, pay your bill on time that you promised to pay, and there will be nothing to talk about..or call the lender and make an arrangement!

My somewhat limited experience is you can buy any rate available the day the rate was locked...they keep those on file...Call the lender and ask... But lets say 5% was .5 points the day you locked and today it is .125 points you still have to pay the .5 points... the experts will be able to clearify.

You want a house assessed at almost 800k...what are the property taxes going to be like on that? wow...

Easy question, who are you making payments too? Let me guess, nobody...you know the car isn't free....So if you aren't paying for it, you know it's not yours...right? How many payments have you made? None of course..... Come on, you know you have to return it then...

And she never thought paying your mortgage bill each month would solve the problem? So she can live for free, gee what a great world...