Home Buyin/Maintenance Thread - Where most of us are 30ish but act 47. Oh, and fuck home inspectors

Discussion in 'The Mainboard' started by Swim Cantore, May 4, 2015.

  1. One Two

    One Two Hot Dog Vibes
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    Anyone else considering refi’ing their mortgage? I’m at 4.5% (2017 yolo) and it looks like at 3.25% quote I just got back I could save $300 a month


    But rates are done dropping after fed cut today...
     
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  2. pez

    pez Competent
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    well I am now....
     
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  3. PAHokie

    PAHokie Can't a bitch living say I bought her Michael Kors
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    I was going to look into I, but not sure if it will be of a big enough save for me. 9/2017 3.875%
     
  4. CF3234

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    we got 3.5 last april and the wife wants to look into it to see if we can lower our rate further.
     
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  5. stangd

    stangd I love scotch. Scotchy, scotch, scotch
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    Damn gotta check that VA rate out, it might be worth it for me.
     
  6. stangd

    stangd I love scotch. Scotchy, scotch, scotch
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    That’s what I’m currently at, but I wouldn’t mind getting a little cash this time.
     
  7. CF3234

    CF3234 Fan of: Bandwagons
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    that was part of her thinking. take equity out and invest/use to finish the rest of the house.
     
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  8. comrade static

    comrade static i love french fries
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    If looking to refi, how long are you going to be in your house for? If 1-5 years, it might not make financial sense to refi because of the closing costs. Depends on what your current rate is. If you’ll be there for more than 5 years, it probably makes sense to do it.

    I know Jorts can help with the refi in a lot of states.

    I’m with Quicken’s Rocket Mortgage, but only licensed in Oklahoma.

    happy to answer any questions or help you’re House is in oklahoma.
     
  9. gowolverines8

    gowolverines8 Well-Known Member

    Anyone ever had experience or heard about legal actions that can be taken with HOAs for suppressing property values through increased dues? My brother bought a condo in Denver about 2 and 1/2 years ago and since hes been there the HOA board has elected to increase HOA fees from around 450 to 950 a month. This is despite there being no real added services or anything, basically beyond general maintenance of the building the hoa pays for a doorman a common area and gym(theres no pool, car service etc. that generally drives hoa fees like this so high in building a like this). The hoa board is basically full of a bunch of seniors who have their units paid off or bought in the downturn for 50% or less what the proprieties go for now, so these increases do not hit them nearly as bad they do for recent buyers. Therefore they just keep on passing frivolous dues increases. Anyway my brother purchased the property for 435k and due to the increase of the hoa fees he listed his property for sale about year ago and has yet to sell it. This is despite him listing it slightly below what he purchased the property for in a an area that property values have increased on average 17% in the 2 and 1/2 years hes moved there. Its clearly the increased hoa fees just killing the property values down. Listing agents and buyers have all said its 100% the hoa fees. Just wondering if its even worthwhile to pursue something against the hoa or if hes just fucked.
     
  10. Baron

    Baron Well-Known Member
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    I'd pose the same question in the Lawyer thread. I'm sure one of TMB's finest may know the answer.
     
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  11. pez

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    what are closing costs, generically?
     
  12. Sub-Zero

    Sub-Zero ALL THE TOSTITOS!!!
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    2017/4.4% checking in.

    Sooooo...maybe? I've never done it ... Who should I contact first? The people collecting my mortgage payments now (Mr. Cooper) or someone in mortgage financing I know? Not sure where to start.
     
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  13. Bruce Bowen

    Bruce Bowen Well-Known Member
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    I reached out this AM and was told "The Feds cut rates today which is bad for mortgage rates so we could see some mid-day changes. Just an FYI."

    I don't understand this stuff at all but I'm at 4.75 and the first quote she sent has me down to a 3.125 so fuck yeah.
     
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  14. Duck70

    Duck70 Let's just do it and be legends, man
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    Just talked to my wife about it this morning. I'm at 4.7% from 2015 and I think I can get 3% now and save upwards of $350 per month
     
  15. One Two

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    eventually back end rate curves should adjust to fed cut (rates go up on long term yields) but key word is “eventually.”
     
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  16. kentucky_dawg

    kentucky_dawg Fan of: Georgia
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    Is there a consensus company to go through for refis?
     
  17. yesman

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    I use zillow and bankrate to get instant quotes to start. just did it a couple weeks ago actually (wish I had waited until this week). guy I worked with was from zillow's database and had the best rates with over 2k lender credit which offset almost all closing costs.
     
    #21967 yesman, Mar 3, 2020
    Last edited: Mar 3, 2020
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  18. comrade static

    comrade static i love french fries
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    Depends on a few things but I normally see them in the 5k to 8k range.
     
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  19. stangd

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    Anyone here deal with Wyndham cap mortgage before? If so can I get a review... please and a big thanks.
     
  20. Where Eagles Dare

    Where Eagles Dare The Specialist Show On Earth
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    House goes on market and apparently someone smelled gas. Discovered leaks in furnace and apparently some door isn't vented right where my water heater is. So now I have no Gas now

    Also all the houses I liked are now under contract too, so that's cool.

    Being an adult is stupid
     
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  21. NineteenNine

    NineteenNine Divers are, in fact, wankers. It's science.
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    That sucks. I’d guess he’s probably fucked.
     
  22. Jorts

    Jorts "Ask about my Mortgage Services"
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    That is terrible advice
     
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  23. Jorts

    Jorts "Ask about my Mortgage Services"
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    The Fed cuts have virtually no direct impact on mortgage rates... today, or any day.
     
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  24. kentucky_dawg

    kentucky_dawg Fan of: Georgia
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  25. Jorts

    Jorts "Ask about my Mortgage Services"
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    kentucky_dawg If you are in FL or GA, which I suspect you are, me.

    If not, I have someone I can recommend... shoot me a PM
     
  26. Jorts

    Jorts "Ask about my Mortgage Services"
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    You'll just find another $30k laying around somewhere, I'm sure
     
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  27. gocams

    gocams Well-Known Member
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    The two people who were thinking about buying a second house but wanted to do construction on your first house...

    Yall should get an equity line on your primary residence while it is still your primary residence. Then you would have money to fix it up or for a downpayment on your new house. Equity lines go to 90% LTV (or more) on primaries. Once you buy a new house, that new house would be your new primary residence. Hard to get an equity line on an "investment" or 2nd home.

    You can have mortgage on home 1 and equity line on home 1 and then get mortgage on home 2.

    You cant have mortgage on home 1 then get mortgage on home 2 then get equity line on home 1. Needs to be the other sequence.
     
  28. One Two

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    kentucky_dawg and everyone else, check with current mortgage company on what a refi will look like and at least two more. Rates aren’t going to differ much but closing costs will, which matters if you’re looking to roll a cash out into your refi. Guild mortgage has been friendly to me closing cost wise despite the fact they are based out of San Diego and I’m in Bham (they have an office here).
     
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  29. Rabid

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    But the 10-year treasury does and that went below 1% today.
     
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  30. CF3234

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    go on...
     
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  31. CF3234

    CF3234 Fan of: Bandwagons
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    Can highly recommend Jorts kentucky_dawg
     
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  32. One Two

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    Yep this. Rates have been so weird on the long end I doubt the fed rate cut impacts that long end yield curve any time soon especially considering this.
     
  33. Jorts

    Jorts "Ask about my Mortgage Services"
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    My comment was in regard to another lender insinuating the Fed cut today had any impact on rates, which it didn't.
     
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  34. Jorts

    Jorts "Ask about my Mortgage Services"
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    It is highly unlikely any large national banks will be competitive with regard to rate, or service, in the coming weeks. They tend to raise & lower rates based on their pipeline & capacity, not necessarily following the market. We are all fucking slammed

    That said, One Two gave sound advice... start at your bank or a local credit union, a direct lender (Quicken/Loan Depot /Guildtypes) & a local mortgage broker. The deal will go to he that cuts their margins the most.
     
    #21984 Jorts, Mar 3, 2020
    Last edited: Mar 3, 2020
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  35. Rabid

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    People in general like to believe that the Fed rather than markets determine rates. The truth is the Fed just puts a thumb on the scale. That and it makes a lot more noise when the media can report a definitive decision by a committee rather than emergent order. But the general idea is accurate that rates across the yield curve (every maturity) are going lower. It was just the wrong term to maturity (Fed Funds = Overnight rate which is much different than a 30-year rate).
     
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  36. Jorts

    Jorts "Ask about my Mortgage Services"
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    I could have saved you 95% of that paragraph. Today was miserable for me, just like every previous Fed decision to lower rates. I think I answered the same question 30-40 times today... all having to do with the assumption that mortgage rates dropped 0.50%. Fortunately it was mostly just past clients, who I'm happy to help. I probably would have slit my wrists if I worked in a call-center
     
    #21986 Jorts, Mar 3, 2020
    Last edited: Mar 3, 2020
  37. yesman

    yesman Well-Known Member
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    Well at least elaborate dude, cmon.
     
  38. Jorts

    Jorts "Ask about my Mortgage Services"
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    I did. Scroll up 5 posts, or so
     
  39. yesman

    yesman Well-Known Member
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    I mean, was it the bankrate/zillow lender market part that you didn't like? By all means if someone has a pro that they know and trust locally that is a great option but for people that are on their own it's worked out great for me more than just this past time.
     
  40. Jorts

    Jorts "Ask about my Mortgage Services"
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    Bankrate is just bad in general. I've seen many people hurt by the credit pulls driven through that site... hurt enough that it took months to repair the damage.

    Zillow Lender market is something I utilize & where I spend a large portion of my advertising dollars. I benefit due to large number of 5-star review from clients, but mostly because I spend a lot within the platform. The least savvy of my clients are drawn from this pool & I'd love to get away from it, but it's a necessary evil for me as that is where my Realtor partners want to advertise.

    Local isn't as important for refinances, as purchase transactions, but there is always someone. Ask your family, neighbor co-worker, someone from your kids school or church... then go to Zillow Lender Market to check them out
     
  41. Sub-Zero

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    Called a mortgage contact I have and he quoted me 3.125 this morning :ths:
     
    #21991 Sub-Zero, Mar 4, 2020
    Last edited: Mar 4, 2020
  42. jrmy

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    We were offered 3.5 when we put our offer in at the beginning of February. They called us back when we got the approval done last week letting us know they were dropping and we just changed it up and locked in 3.25 with almost $1000 less due at closing than initially estimated.
     
  43. jbr

    jbr Well-Hung Member
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    Interested to hear what the final APR is on these sub-3.5 loans.
     
  44. Baron

    Baron Well-Known Member
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    Anyone ever had to use root killer? Have some roots going into my main drain pipe between house and street (got it unclogged for now) but would like to get some. Didn't know if some were better than others?
     
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  45. WillySaliba

    WillySaliba Well-Known Member
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    Can you post a pic?
     
  46. Baron

    Baron Well-Known Member
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    I don't. It's all underground. My friend is a plumber and rain his drain cleaner machine from the yard into the house and pulled out a bunch of crap including small roots. I've read it's good to get some root killer to flush down the toilet closest to the drain exit of your house. I didn't know if there are some better than others if anyone had used before or if they are all pretty much the same...
     
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  47. texasraider

    texasraider thanks
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    so roots have penetrated your drain pipe and you think killing the roots will make the drain pipe ok?
     
  48. bigred77

    bigred77 Well-Known Member
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    on my septic, I was told to use a flush down the toilet additive that has copper sulfate in it. Within a week, I could see in the leaves of the tree that it was affecting the roots. It apparently kills and dissolves any roots that absorb it.
    im not 100% sure on a drain pipe vs septic, but it may be worth a shot
     
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  49. Imurhuckleberry

    Imurhuckleberry Avid spectator of windmill warriors
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    I did. When I first moved in. Was a very gross thing the inspector missed. Probably had been clogged for years and the cleanout was uncapped but covered over by a boardwalk. Disassembled the boardwalk, spent a whole day digging up literal shit. Rotorootered and cleared two clogs with roots. Now I drop rootkiller every other month. Haven't had a problem in about 4 months now.
     
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  50. Baron

    Baron Well-Known Member
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    Idk what it's called but it's where everything comes out, shit, piss, toilet paper, etc.

    What did you use?