Home Buying in 33172>Question Details

Rootical60, Home Buyer in Miami, FL

if you are buying a house that is being sold $850,000,and you are paying $4,269 a month,is this good or bad?

Asked by Rootical60, Miami, FL Mon Oct 21, 2013

Help the community by answering this question:

Answers

5
Congratulations on buying a new home!
I will assume you did go through with it...

Check out current rates and programs in different banks, not just the one you purchased through.
Then, refinance, if it makes sense financially.

When comparing rates, make sure you are comparing apples to apples:
1) Ask for the note rate (rate you'll be paying)
2) APR - Annual Percent Rate - that rate includes your closing costs.
When choosing by rate - APR should be the lowest you can get.
3) Ask what your closing costs would be - and get them in writing
4) Ask what the process is to lock your rate (until it's locked, it could change)

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
IrinaKaran@gmail.com
0 votes Thank Flag Link Tue May 20, 2014
The truth is, we cannot answer your question without additional information.

I understand that the sales price is $850,000, but to answer your question specifically with meaningful answers and numbers, we need to know HOW MUCH THE LOAN IS FOR and WHAT TERM ( 30yrs, 15 yrs,etc.)

ALSO

Does that payment include taxes and insurance? If it does we would need to know how much of that payment is taxes and insurance.

Without that information, we can only guess or try to promote other programs that may not have any bearing on what it is that you are trying to do.

I would be happy to discuss with you right away.

Andrew Kashella
727-331-8400
akashella@TLTLoans.com
0 votes Thank Flag Link Tue Oct 22, 2013
-
-
I say, given the info you wrote, not good. See the below programs and call me after 1:00 today

97% LTV- NO PMI
97% LTV- CONDO- NO PMI
90% LTV- 2nd Home- NO PMI
90% LTV- JUMBO- NO PMI
85% LTV- Super Jumbo- NO PMI

85% LTV- Invest. /Rental
80% LTV- Foreign Nationals
70% LTV- Manf. Homes over 90k

STATED INCOME ALT-up to Super Jumbo

90% LTV- Short Sale, BK, Foreclosure Forgiveness
80% LTV- FIX n’ FLIP Invest. Prop.
75% LTV- Foreign Nationals
70% LTV- Soft and Hard Money

COMMERCIAL PROGRAMS-nationwide

Steve McRory
Pro Option Mortgage/ Florida
steve@pro-option.com
http://WWW.PRO-OPTION.COM
Ph: 888 662 4404
#204296

Prior Service: U.S. MARINE CORPS
====
0 votes Thank Flag Link Tue Oct 22, 2013
It all depends on the neighborhood. The best person to talk to first is a Mortgage Broker. Then ask a realtor to prepare comparables for the neighborhood. If you don't have access to either, please contact me at jmay@Metro1Properties.com

Have a great Evening.

Jenny Arias May
0 votes Thank Flag Link Mon Oct 21, 2013
-
-
I'm going to read other responses before responding

Stand by .

--
0 votes Thank Flag Link Mon Oct 21, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer