| Author | Message | ||
Caone Junior Artist Username: Caone Post Number: 44 Registered: 12-2011 Posted From: 24.4.27.253 Rating: N/A |
Luckily this is a no cost loan. My current loan officer works gets me good amount as lender credit, but the rates are little higher than market. But then he recommends doing refi as many times as possible to maximize the credit. I'm thinking this is not good for longer term and settle with one jumbo. I will check amortization schedule too...thanks bro! | ||
Caone Junior Artist Username: Caone Post Number: 43 Registered: 12-2011 Posted From: 24.4.27.253 Rating: N/A |
I have 20% equity, so 80% loan and the term is 30 year fixed. | ||
Rgb Comedian Username: Rgb Post Number: 1818 Registered: 06-2014 Posted From: 162.115.236.104 Rating: N/A |
Basically Amortization schedule choosthe you will know how much you are paying. You ahve to add closing costs to both and compare http://www.bankrate.com/calculators/mortgages/amortization-c alculator.aspx | ||
Rgb Comedian Username: Rgb Post Number: 1817 Registered: 06-2014 Posted From: 162.115.236.104 Rating: N/A |
Jumbo rate is on whole loan amount not the difference from max conforming loan. Apparently the fees being charged by the Government Sponsored Enterprise (Fammi May, Freddie Mac) is responsible for the Jumbo rates being lower than 2 confoirming loans. Jumbo loans dont have limits. But Loan amount as percentage will go down as the value of the home to be mortgaged goes up | ||
Suyodhan Side Hero Username: Suyodhan Post Number: 2807 Registered: 01-2013 Posted From: 173.226.168.130 Rating: N/A |
down payment entha? Term entha? | ||
Caone Junior Artist Username: Caone Post Number: 42 Registered: 12-2011 Posted From: 24.4.27.253 Rating: N/A |
Interesting! What I got from BoA is just flat rate of 3.75% (Jumbo starts at 625K for the county I live). Whereas Super confirming I'm getting at 4.125%, which is very strange. I will be able to save $$ a month even if I go with Jumbo rather than first+second. But then I wanted to understand what my costs are at the end of the day. | ||
Suyodhan Side Hero Username: Suyodhan Post Number: 2806 Registered: 01-2013 Posted From: 173.226.168.130 Rating: N/A |
as per my discussion with lender is this: Jumbo loan - 417K varaku oka interest rate adi exceed ayithe aa remaining amount meeda inko rate... also depends on how much down payment etc etc adds PMI + EMI So, jumbo loan avg chesi chepthe cheap gaa kanipisthundi kaani, pocket hole ekkuva. | ||
Gandhiguevara Legend Username: Gandhiguevara Post Number: 54577 Registered: 10-2009 Posted From: 204.61.207.7 Rating: N/A |
fafa rao...neeku thelusemo anukuni notebook lo raaskunna...theleeka pothe gammunundochu kadhaa...piss thagithe cancer taggudhi ani cheppinatlu chepthunnav gaa | ||
Starc Comedian Username: Starc Post Number: 1091 Registered: 03-2015 Posted From: 170.63.120.116 Rating: N/A |
i am chorry.. naku teldu | ||
Caone Junior Artist Username: Caone Post Number: 41 Registered: 12-2011 Posted From: 24.4.27.253 Rating: N/A |
Sorry you are mistaken, here is the breakup (depending on cost of living): Confirming upto 417K Super Confirming upto 625K Jumbo 625K and above My question was about whether one jumbo loan vs first and second (Super confirming and HELOC) any better given that jumbo rates are little lower then Super Confirming and HELOC. | ||
Starc Comedian Username: Starc Post Number: 1090 Registered: 03-2015 Posted From: 170.63.120.116 Rating: N/A |
jumbo loan ki loan limit 417k.. anything more than that either you have to pay or go for another type of loan. | ||
Gandhiguevara Legend Username: Gandhiguevara Post Number: 54571 Registered: 10-2009 Posted From: 204.61.207.7 Rating: N/A |
so ippudu 500k chese illu ki 83k manam katti 417k ki jumbo loan theeskovachaa? | ||
Starc Comedian Username: Starc Post Number: 1089 Registered: 03-2015 Posted From: 170.63.120.116 Rating: N/A |
Jumbo loans are limited to 417k.. if your amount is more than that then you would put money from your pocket. | ||
Caone Junior Artist Username: Caone Post Number: 40 Registered: 12-2011 Posted From: 24.4.27.253 Rating: N/A |
Looks like Jumbo loan rates are slightly lower than conventional first and second. Do you guys know any gotchas with Jumbos other than difficulty in refinancing. |