Norcal Spotted and BS Thread

Everything I've seen for the range I'm looking for is $300 a month for PMI. Which is ridiculous IMO. I need to sit down with someone and ask what I qualify for and see what I can get without PMI.

 

We bought our house with 10% down and no PMI, but we had to pay a higher interest rate.

We were about to refi last week, but when the closing summary arrived, PMI was added! It wasn't on the original estimate.

My brother-in-law, and mortgage consultant, said I needed to pay $2500 into principal to get to 20% equity. We are in the high 19%'s....

New deal, as of 3 hours ago:
I pay $2500 to principal, PMI goes away, interest goes down 0.5%, and we save $230/ month on a 30-year fixed.
Minimal closing costs... Brother in law co- owns the brokerage firm.

 

That's great Phil! I'm sure I can get a load without PMI and then possibly refi if it's right timing and maybe have no PMI or like what you did and pay an amount towards the principal and be ok. Before I get too discouraged with this whole house buying ordeal.

 

We got our first house with an FHA loan in 2008. Bought a short- sale with an FHA loan... was a nightmare back then. Paid 3% down and about 5% total with closing costs. I don't think those deals are around, and sellers will pass in this competitive market.

My advice: don't buy a house now. Before you have kids, use that down payment money to take 6 months off and circumnavigate South America, if that's your thing.

That was our plan...then we bought a house.

 

F, I need to refi I think. I've got a VA loan at 4.25%. I've seen a few offers for as low as 2.75%, and apparently the guy that controls my loan can do me a deal of 3.75% and they eat the closing costs...halfway considering it, it lowers my payments by $180 a month...but kinda holding out for better. What do you guys think? Barely been in the house for a year and a half...

 

I have about a year before other debts are paid completely off so it'll be a year or two anyway. At this rate I'll be priced out of my own market with how it's been going. I'm in a one bedroom apartment which is great and it's safe and i love my neighbors but you've seen me, I'm a giraffe and I'm contained in a 800sf apt. We went bike riding last night and I knocked about 6 thinks over getting my bike out.
But our rent is cheap since we got in 4 years ago compared to going rate. Would kill me to give up cheap rent to renting a house or larger apartment because we would have to pay going rate. Which is a lot more than we pay now.

 

Sorry, made that last post before reading about you being discouraged...
It's a tough market, but it will probably drop again. It always does, depending on where you're buying.

 

No, I'm on my second house and have never had to carry PMI on either, and I just did a refi last year. But the industry is a racket, and I feel for those who are just trying to get a start and get the extra layer of BS. The banks basically have no risk in any of this. The get your money or your property.

 

I eat tacos so often, they speak to me in Spanish...

 

I thankfully can eat some things I couldn't before but I can't do anything spicy or I'll pay for it later.

Srs don't drink energy drinks.

 

Those things are nasty. But then Camarones a la diabla aren't exactly easy on the tummy either I love that...

 

Just wait it out. Housing is always been an up and down market. Right now its climbing up and has been for the last few yrs. It will peak in the next few yrs and tank again. If you have cash saved then you jump, now is not the time. With the new minimum wage increase and the way we are going we will see a huge drop the next time. Maybe bigger then the last one.

 

That scares me being anchored in the construction/commercial business but it makes sense especially with the new min wage hike. We got saved by a bubble pop with the oil prices tanking and then balancing out. We were growing way too fast.

 

Anyone with a NON TRD OFF-ROAD interested in my complete third w ARB locker and stock 3.73 gears?!? One year old, diff fluid changed twice, professionally installed ring and pinion at Shaffers Offroad in Alameda.
Im regearing soon and wouldn't mind just getting a complete third from ECGS but don't wanna rebuy locker. I'll need your stock complete as a core. I'll drop mine and can come help drop yours and install new arb same day.
@CalTacoma09 has priority but just throwing it out as a feeler.

$875 plus your stock third...

 

I sold my house in Oakland last year thinking it was at the peak. Had I held out another year I could've gotten another 100k for it

 

I'm in the same boat. Thats why I went to the state for work. Steady work and no travel. Less pay but better benifets.

 

Son of a B, If I hadn't just bought a 9" axle I'd have jumped on this shit in a heartbeat

 

If you have to pay a little more in interest so that you don't have to pay PMi, do it. Interest is tax deductible, PMI isn't and doesn't do shit for you

 

Sis in San Diego just sent me this! New taco in the family!!


(damn 4x2)

Told her to stay away from 3rd gen forums

 

Definitely a girl car.