Please PM me the lender info
@Martis wrote:So after the last couple of months of building credit score up after paying down debt I got my median mortgage score to 754.
The lender that I want to work because of no closing cost and many good referals from friends pre-approved me for 295k loan with 10% down at 3.875% interest + 90.71$ Mortgage Insurance for 30 years conventional loan.
At pre -approval they provided me with a clarity statement with estimated monthly payment and all the closing cost and 3rd party fees.
The lender is covering 2,400 in closing cost (appraisal, Owner title insurance, etc). There is no origination fee.
I am responsible for city/county tax/stamps for deed and deed of trust - 471 and state tax/stamps for deed and deed of trust of 1,413.
I also need to make escrow deposits for: real estate tax 675 (3 months), Insurance 195 (3 months), Prepaid Interest 428,67 and Insurance, Taxes and Other items 780.
I guess the city and state taxes are what they are they cant foul me whit those right? How about the escrow deposits what is the prepaid interst for and the other items of 780$?
I am overall happy with this pre-approval, you think I can get a better deal should I keep shopping or is not worth the extra inquiries and per today market this what I would get? The lender told me that once I am over 740 median score I am in the best bracket for them and I not get a better deal even if I go over 800. They even told me that even if I get more balance on credit cards (not that I want to) but my score is 740+ nothing will change in terms.
Let me know what you think, any input is trully appeciated.
Thank You
@mmmlive1999 wrote:Please PM me the lender info
@Martis wrote:So after the last couple of months of building credit score up after paying down debt I got my median mortgage score to 754.
The lender that I want to work because of no closing cost and many good referals from friends pre-approved me for 295k loan with 10% down at 3.875% interest + 90.71$ Mortgage Insurance for 30 years conventional loan.
At pre -approval they provided me with a clarity statement with estimated monthly payment and all the closing cost and 3rd party fees.
The lender is covering 2,400 in closing cost (appraisal, Owner title insurance, etc). There is no origination fee.
I am responsible for city/county tax/stamps for deed and deed of trust - 471 and state tax/stamps for deed and deed of trust of 1,413.
I also need to make escrow deposits for: real estate tax 675 (3 months), Insurance 195 (3 months), Prepaid Interest 428,67 and Insurance, Taxes and Other items 780.
I guess the city and state taxes are what they are they cant foul me whit those right? How about the escrow deposits what is the prepaid interst for and the other items of 780$?
I am overall happy with this pre-approval, you think I can get a better deal should I keep shopping or is not worth the extra inquiries and per today market this what I would get? The lender told me that once I am over 740 median score I am in the best bracket for them and I not get a better deal even if I go over 800. They even told me that even if I get more balance on credit cards (not that I want to) but my score is 740+ nothing will change in terms.
Let me know what you think, any input is trully appeciated.
Thank You
Same here please and thank you in advance