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- 14 Answers
- 5 First Answers
- 5 Useful Answers
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One suggestion I can give you is to talk with a couple mortgage professionals. It is good to have information for perspective buyers so they know that they "can" get financing on your home. There are several creative programs out there that with your pricing and a knowledgeable loan professional, you may want to put financing options on the back of your home listing flyer?
$2960 / 12 months = $246.67 per month
1.6% sounds like there are some bonds or mello roos in there, so I would look at the county tax website and figure out exactly how the taxes break down.
Hope this helps!
This is one of those questions like, "what are rates". There are so many things that go into rates and the type of program it is best to really "put it all on the table" and figure out what your options are.
Are you good at managing finances and budgeting?
Does your income fluctuate?
There are several factors that you should consider before making a final decision.
The safe option is to set up an escrow account for your taxes and insurance. This is safe because you just make your total payment each month and you know your taxes and insurance are going to get paid.
If you are good at budgeting and want to "control" the money yourself I advise not to do an escrow or impound account. This gives you control of the funds and you don’t have the pay extra money at closing to set up the impound account. You also don’t have to worry about changes to the account which frequently take place.
Another factor is the type of loan you are getting, you will sometimes pay a slightly higher rate if you don't do an impound account.
Hope that helps.
It sounds like you need to speak to a few loan professionals that can help you look at all of your options. Maybe there are some bond programs or other incentives that you can take advantage of.
I would recommend that you speak to a couple loan professionals you can trust and have them get more information from you and what you would like to do, and they can give you clear and direct answers.
Fill out a free no obligation infomation form on http://www.lendethics.com and be contacted by only "approved" loan professionals.
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