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Discussion in 'The Mainboard' started by Swim Cantore, May 4, 2015.
I'm trying to wrap my head around why that is a CMU wall
Hurricane building codes i guess?
Do they put a decorative brick facade on the outside of it?
I tipped 20% of thr total cost
Typically it’s stucco
For short trips, imo this.
I don’t have any of those things so
EFIS I don’t think is as prevalent down south. They use true stucco.
It's pretty prevalent in Texas
EFIS is at its worst in humid conditions with high temp deltas interior/exterior. Low breathability and complex weep/drainage substrates can make it a nightmare.
At our meeting with the low voltage contractor yesterday, we picked out a couple Sonance ceiling speakers for our kitchen. Their recommendation was to put the Amp in the basement along with a 2nd Amp for outdoor speakers, and then get a soundbar for the TV so that they could all connect. Their biggest recommendation is to basically have homerun connections for most of the data/speaker connections to go to a central hub in the basement. Then we'd also have a PVC pipe installed from the basement ceiling all the way up to the 2nd story attic so that we could add cables to the 2nd floor at any point in the future.
Those with sonos/wiring experience, do you agree or disagree with their assessment of how to do this?
Yeah I was a huge proponent of the PVC pipe, I just don't have much experience with Sonos, so I wasn't sure if people agreed the Amp should be in the basement.
Looking for advice regarding refinancing/buying in the future.
- Currently owe 340k, house is worth 395 (very confident in what it is worth)
- Rate of 5.25% at the present time.
- Looking at moving next spring/summer. We want to buy and then sell for several reasons. We can afford to carry two mortgages for a short time.
- Will have down payment money for the next mortgage without selling our current house, but I’m concerned about getting approved for a second mortgage due to the DTI.
- I can refi our house right now and drop our payment around 1/3 with no cash out (rate of around 3.0).
Should I refi right now even if it’s just for 10-months just to get our future DTI down?
5.25% sucks, but if you're looking at selling in 12 months or less, I don't see how you could get your money back out of the refi.
by my math, it would be close, but I am okay taking a small loss if it would ensure the second mortgage not being an issue in the future.
There's no reason you'll ever need to access it unless you have to reset it for some reason, so whether it's in the basement or a closet, just put it somewhere out of the way
you’ll have an Ethernet line dropping down the pipe to the amp right? Because that would seem like the biggest issue being in the basement
Calculate out what your DTI would be based on different circumstances and go from there. Know what DTI your lender is going to calculate themselves if you do or don't refi and use that to guide you. If it's higher than their threshold without refinancing then the decision is made for you. You're also likely going to be offered a higher rate on your new house since it'll be a second home at the time of purchase but there could be ways to avoid that with your specific lender.
The amp would be down by our home data hub which will include all cable/ethernet routers.
Ahh makes sense.
Pulled the trigger and decided to refi. Rate is locked at 3.125%, will save me $600/month. Closing costs were higher than I would like but it’s whatever, looking at 13.5 months to break even.
I think that’s a good move. Still don’t know what the market is going to do or how this shit impacts us all long term.
yeah, that was the other concern. If prices free fall, at least our rate in our current house will be fine.
I personally like having it in my kitchen so that I can press the start button if my phone isn’t available or my hands are slightly dirty/wet while cooking. Any other room I agree but it’s come in handy for me in the kitchen.
The thought process is correct & it makes sense based on your timeline, but closing costs of $8,100.00 are exorbitant... you are getting robbed
If he’s purchasing a new primary home, or secondary/vacation home, the rates are identical. There would be other considerations, but mainly regarding assets/reserve requirements.
This isn't true at the bank I used to work for. They had an adjustment unfortunately. Probably true most places though.
not for me either. 2nd home is basically treated as an investment property. Not as high of a rate but higher than primary. Easier to default on a non-primary residence.
What is the washer dryer combo that everyone recommends? We have front load Samsung washer/dryer and they have been ok. No problems in 5 years. Washer smells funky from time to time because of the front load I think.
looking for top load washer.
Switching to a top load washer has been so much better. Clothes seem to get cleaner and washer never smells. We have a middle of the road LG pair and we love it. Hated my old Samsung pair.
We also have LG’s that have been great.
it’s actually ~$8,800. It was cheaper than the closing costs we were quoted through our original broker when we were looking at refinancing through her. $5500 is the years property taxes. Here are the costs:
We will have two kids under 2.5 and really don’t want to move to a temporary spot. Buying with a contingency seems like a pain in the ass. I saw that bridge loans were an option but it seems that is advised against. Is there a better way to do it? We’ll have down payment plus 9-12 months of reserves.
Those closing costs (considering how much the prepaids [like property taxes and home owner's insurance]) are seem reasonable to me. You locked in 3.5% which is a lower rate than you could've got on a good day in most of the past 5 years so I'd consider it a win. You've done well IMO but that's just me.
Congratulations on the new house!
Same house, this is the refi at 3.125. The reference, which I’m still curious if there is a better way, is about hopefully moving in a year.
Reason #1 why you should deal with a local Broker, not a Bank: Overlays
Escrows ($5543) aren't closing costs... that's your money. You'll get a refund check within 45 days, from your current lender, with the balance of your current escrow account. That is, unless they roll your refund into the payoff.
Assuming they actually disclosed their fees in Section A correctly, my previous comment about "exorbitant fees" isn't valid
84 year old home purchase... dead upon inspection. Or, the sellers unwillingness to make about $7k worth of repairs or negotiate
Ugh. Sorry man
Sucks but better than moving into shit that will have you under water.
Stupid fucking fence is finally done. $550 total between my neighbor and I for 64’.
Jorts Sucks dude. Looked like a cool place. What was needed?
I bought a 156 year old house last year, it's smart to pass if the sellers won't take care of the stuff needed taken care of right now because there's sure to be more coming.
I’m a sucker for old homes and their history and would appreciate any pics, details etc you don’t mind sharing
My parents' house was built in the 1870s. They're the 3rd owners of it. Many of the nails in it are the square head type. It has a well beneath it and all of the fireplaces were converted to coal burning. When they bought it, the ceilings were 13 ft, they lowered them to 8 ft and rewired the house, so there's a big crawl space between floors.
Why would you get rid of 13 foot ceilings?