09-10-2007 10:53 AM
40yr, 7.375%, 225k, $0 down
6.375% on a 30 year fixed one point in cost. These would have PMI
6.75% No Point
Lender Paid MI
7% NO MI cost of one point
6.875% (if we can get a 680 mid score) NO MI cost of one point
7.5% NO MI no points
7.375% No MI (assume 680 score) No Points
The house he wants to buy has been on and off of the market since 2005 and is currently in short sale.
Initially went on the market in 2005 at $330k. House is listed now as $219k. He was going to offer $209k, however it was recommended he offer $215k and ask for 3% seller credit. Taxable value is $236k.
09-12-2007 05:26 PM
Fannie Mae level one.
On a loan amount of 227,000 total payment would be 2014.00 this includes everything. Based on a interest rate of 7.25%
I also have it approved FHA now keep in mind that approval is based on your current assets and if we can get the overtime approved.
Total payment would be 1805.26 including everything. Based on a interest rate of 6.75% and of course this is with putting 3% down $ 6800"
09-13-2007 10:19 AM
09-13-2007 10:24 AM
09-13-2007 01:34 PM
"There are no economic reports set for release today, but the market could react to speeches from several different Fed members. Stock and Bond market Traders will be listening for any hints about rate cuts or what the Fed may do at the upcoming Fed Meeting on September 18th.
Fed rate cuts will help lower rates on Home Equity Lines of Credit, personal loans, auto loans and commercial paper, but a rate cut by the Fed may actually cause fixed rate mortgage rates to worsen. So we will pay close attention to the Fed comments at the next meeting.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.