Mr D
I'm wanting to buy a house come february 2012. And I've been doing a lot of research. I have no debt and I have a 730 credit score and a long history of employment. For the home I want, I can come up with about 4% down. Everywhere tells me that all you need is 3.5% down for an FHA loan... as long as you pay PMI... etc etc. What I'm wondering is, is this true or are there other costs that I'll have to consider before buying a home? Can I roll closing costs into the cost of the loan? How much does the real estate agent cost in all this, and do they get paid in the loan amount? How much do I REALLY need to put down on a house? Thanks
Answer
In my area we have lots of people buying homes with scores lower than yours on FHA loans with 3.5% down. Several of them have negotiated the seller to help pay some or all of the buyers closing costs (that effectively rolls the costs into your loan because of course a seller negotiates harder when they have those additional costs to pay).
A good local loan officer can line this all out for you. In their estimate they give you they have to estimate how much your home owners insurance will costs because they have no idea what type of policy you will go with, they have to estimate the costs of property taxes until you pick out a house, they do not require you to get a home inspection (this is totally different from a home appraisal that they do require) so they don't include that in your estimate- an inspection costs $325 to $425 around here. They also don't include any guess as to how much it will cost you to move your furniture or buy a lawn mower or whatever- but they do a great job at estimating very closely the cost of closing on the home.
The interest rates are at a ridiculously low point- I would think pretty seriously about buying now so that you can get these low prices and low interest rates!
In my area we have lots of people buying homes with scores lower than yours on FHA loans with 3.5% down. Several of them have negotiated the seller to help pay some or all of the buyers closing costs (that effectively rolls the costs into your loan because of course a seller negotiates harder when they have those additional costs to pay).
A good local loan officer can line this all out for you. In their estimate they give you they have to estimate how much your home owners insurance will costs because they have no idea what type of policy you will go with, they have to estimate the costs of property taxes until you pick out a house, they do not require you to get a home inspection (this is totally different from a home appraisal that they do require) so they don't include that in your estimate- an inspection costs $325 to $425 around here. They also don't include any guess as to how much it will cost you to move your furniture or buy a lawn mower or whatever- but they do a great job at estimating very closely the cost of closing on the home.
The interest rates are at a ridiculously low point- I would think pretty seriously about buying now so that you can get these low prices and low interest rates!
Why is the Obama admin refusing to perform their constitutionally mandated role of protecting our borders?
Memyselfan
And is instead taking new powers onto themselves that are not constitutionally mandated such as forcing citizens to buy heath care?
Does this meant that the contract between the federal government and the states is null and void?
Answer
Why are Republicans such Gawd awful hypocrites when it come to illegal immigration >
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The top 5 Republican hypocrites on immigration | The Raw Story
With the 2012 election on the horizon and Republicans scrambling to prove their ... on illegal immigration and emphasized penalties for employers who hire illegal immigrants.
www.rawstory.com/rs/2011/09/09/the-top-5-republican... - Cached
Texas immigration bill has big exception - CNN
... filed in Texas that address the issue of illegal immigration, one, proposed by Republican ... for hiring lawn care companies who hire unauthorized immigrants, he ...
articles.cnn.com/2011-03-01/politics/texas.immigration... - Cached
Romney hires illegal lawn mowers, blames government | Redstate
... which would have Massachusetts State troopers arrest illegal immigrants and ... He did not hire illegals. That Republicans and conservatives are keeping this non-story ...
archive.redstate.com/.../republicans/romney_hires_illegal... - Cached
Tennessee Republicans Vow To Fight Illegal Immigration - ALIPAC
The court will hear arguments in December about the law that allows business licenses to be suspended or revoked when employers hire illegal immigrants. Republicans may ...
www.alipac.us/...republicans...illegal-immigration-207171 - Cached
Why are Republicans such Gawd awful hypocrites when it come to illegal immigration >
-------------------------------
The top 5 Republican hypocrites on immigration | The Raw Story
With the 2012 election on the horizon and Republicans scrambling to prove their ... on illegal immigration and emphasized penalties for employers who hire illegal immigrants.
www.rawstory.com/rs/2011/09/09/the-top-5-republican... - Cached
Texas immigration bill has big exception - CNN
... filed in Texas that address the issue of illegal immigration, one, proposed by Republican ... for hiring lawn care companies who hire unauthorized immigrants, he ...
articles.cnn.com/2011-03-01/politics/texas.immigration... - Cached
Romney hires illegal lawn mowers, blames government | Redstate
... which would have Massachusetts State troopers arrest illegal immigrants and ... He did not hire illegals. That Republicans and conservatives are keeping this non-story ...
archive.redstate.com/.../republicans/romney_hires_illegal... - Cached
Tennessee Republicans Vow To Fight Illegal Immigration - ALIPAC
The court will hear arguments in December about the law that allows business licenses to be suspended or revoked when employers hire illegal immigrants. Republicans may ...
www.alipac.us/...republicans...illegal-immigration-207171 - Cached
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