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Thanks CIC - and Merry Christmas from the new Homeowners!


ybrew
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I came here in Nov 2005 with a mid-score of 570, and hoping to get an 80/20 arm with 7.5 on the 80 and 10% on the 20.

13 months later, I've got a midscore of around 695-700 and a VA mortgage with a 5.875% 100% fixed.

I could not have done it without this place. I'm probably saving $500 a month on my mortgage because of this place.

We closed at 2:00pm today. I never posted my closing date before now because I didn't want to jinx anything.

I didn't get my HUD/closing amount until 1:45 today! Talk about last minute closings.

But we walked out of there at 3:05 with keys in hand! My wife, son, and I are extremely thankful for all the help this place gave us. A year ago, we expected to be homeowners, but figured we'd be stuck with high, unaffordable rates and would therefore have to make huge compromises on our house.

This place is awesome. Merry Christmas and God Bless to all!

And party at my place tomorrow!!!!

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congrats ybrew and Happy Holidays. Hard work and research pays off.....so now how to we get to this party????????????? Congrats!!!

Sorry. Would've posted sooner, but didn't have internet access at the new house (and was kinda busy with Christmas and all).

You missed the party :( Sorry!

but don't fret, there'll be others.

Anyway - funny story. Went to order my internet access today w/ ATT.

The lady on the phone said the strangest thing - something I thought I'd NEVER hear. Went something like this:

"You have great credit so no deposit is required."

:D

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Guest BadAccountant

Not to get into your personal business, but I wanted to check your rates against what my loan officer is telling me. Is that rate with buying two points? This is the exact rate he quoted me with buying two points.

Thanks and congrats. I have not posted that we have bought a house either for the same reason. I am expecting to close in June.

Signed,

fingerscrossed

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Guest BadAccountant
I went VA. This rate was no points, however...

The VA funding fee is 2.25%, or 2 1/4 points.

I think I might be getting a little hosed then. Does anyone know wether geographical difference (as well as the lender) determine rate? Specifically, does somewhere in Texas have a different rate than Phoenix, Arizona? (CHARLES!?) (i feel like that is akin to lighting the bat signal) :mrgreen:

Also as I read the VA Funding Fee Authorization form the 2.25% funding fee isn't even listed. I am being quoted the 2.15% because this is my first loan and am putting less than 5% down. (actually it's zero). Maybe there is something to a geographical difference.

You know, maybe I need to do more research. I have to finance through this builder to get the 35K in incentives, but do I have to settle for the rate he tells me? Help please. :please:

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I check rates at http://www.myfico.com/

You can check by state. The rate I got was slightly higher than what is listed there. Those rates are generally for 80% (assuming 20% down).

35K incentives are very nice, but I'd still check other lenders and make sure the preferred lender is in the ballpark. You may need to pay a little higher to get those incentives, but you shouldn't pay too much more.

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