JDMCQ's Garage

Dont you have some glass to look at?

 

Good one! Most people look through it and I in fact look at it.

Just shipped out our first big order to NYC today..... need to land another one now.

Was supposed to be in your shitty this week, but due to production delays I couldn't make it...had to see off today's glass.

Maybe next week.

 

Best rate here is around 3% for a 5 year term

 

yikes.... seems high for such a short term loan.

I'm sure I can get better than 3.75% if I act now and my little amount of time at my job is considered to be acceptable. My credit is otherwise spotless.

Worst case I keep the same length of loan and get my payments decreased from a lower finance rate. That would allow me to make the same payment with the extra going towards the principal.

 

You love DC you told me so! Oh and next week I will be lost in Canada.

 

Woot! Kick a Frenchy in the balls for me!!


I just talked to my HR manager yesterday.... I'm allowed to roll over my vacation time so Ill have about 3-4 weeks paid days available next year

 

Sweet I will start looking at some options for whaqt we were talking aboot.

 

Im so ready




Mars here we come !!!!!!!!!!

 

Just looked 2.69% for a 5 year fixed

Mortgages work differently here , you don't get a fixed rate for the entire amortization period of the mortgage like you do in the US

You get ( generally ) a 25 year amortization , then you choose the term length you want to fix your rate at , usually 1 - 5 years with some banks offering up to a 7 year term

The interest rates tend to climb with the length of term

You can also opt for a variable rate term where the rate is based on a fixed amount over the prime rate also known as a floating rate

 

why does it take so damn long for the bank to tell me if i'm approved or not for the loan. They have all the info they need and more.

 

How does this builder loan work ?

The builder is carrying all costs associated with construction of the home during the build , you pay nothing to him till it's done and appraised ?

 

Pretty much I told them what I wanted for a house. They agreed to build it for said price and we signed a document stating that. They build the house and finance everything and then sell me the house when it is done. They control the timelines and the sub contractors that are used. In my case i got them to agree to let me do certain things. If I wanted to do more or pick specific subs, then i would have to carry the construction loan while it is under construction.

 

So how does that work with the stuff you did yourself ? Was that work discounted off the price you pay at the end ?

 

Essentially yes, the work I am doing is discounted in the final price.

 

and you were qualified for a mortgage for the agreed selling price with a bank , but that has changed due to your wife's employment situation ?