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re: VA loan
Posted on 10/28/15 at 9:17 pm to Ace Midnight
Posted on 10/28/15 at 9:17 pm to Ace Midnight
quote:
Y'all are straddlin' the line - if they go with her score as primary, you might get Tier 2 - I'm not sure how that works, exactly, but you still shouldn't be paying 7% on the principal. I would get clarification on what your P&I is going to be, your rate, and your estimated escrow - just so you don't get sticker shock at the closing. I wouldn't think you would even pay 5% if you qualify - I think you should be between 3 1/2 or 3 5/8 at the bottom, up to, at most 4 3/8 or 4 1/2.
Not 7 by a long shot, unless you're borrowing from a guy with the same first name as a city or lots of vowels in his last name.
haha yeah i didn't think it was 7. according to my buddy's mom who's worked with this lender before, they should be estimating taxes and insurance into that $1200.
1
Posted on 10/28/15 at 9:21 pm to IPlayedGreatTonight
quote:
They should be estimating taxes and insurance into that $1200.
If so, that should be a rate of about 4 1/2, as someone else said - not ideal, but it is what it is.
You know you're signing up for 360 payments of $1200, right, petty officer IPGT (or have I read you wrong and you're a lieutenant)?
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