[General | Members | C900 | 9000 | NG900 & OG93 | 92X | 93 | 95 | NG95 | 97X | 99 | Sonett | Vintage Models | Performance | Detail | Clubs & SOC | Other Cars | Books Movies & Music | Chat | FAQs | Gifts | Photos | Classifieds | Polls | Raffle | Sponsors]

General Bulletin Board
Search:

[Main General Bulletin Board | Post Followup | FAQ ] [ Prev by Date ] [ Next by Date ] Member Login / Signup [Most Recently Edited Saabnet.com Photo Galleries]
Buying first house - mortgage reccomendation?
Posted by Liam (more from Liam) on Thu, 5 Jul 2007 16:49:10
My girlfriend and I are about to purchase our first house. We live in Vermont. We were going to go with a VHFA loan, but we make JUST over the income limit. We have been pre approved with a local bank, but now that we don't qualify for VHFA we're shopping around a bit.

Any good or bad stories?

So far the best deal I've found (and I have yet to read the fine print) is the new Bank of America No Closing Cost loan. The rate is 6.883 APR, .084 points. We're going to put about 7% down, but BOA waives the PMI. Our cash at closing will be $3200 which covers the points, the escrow account for taxes and insurance, and the transfer tax on the property. Add in our cost for a lawyer and our home inspection and we'll be getting in for just over 4k. The loan is 30 years fixed.

The bank we started with has the same rate, but closing costs will be $6500+ including PMI, transfer tax, etc.

I'm open to other options - so perhaps the Saab community knows best!

Thanks in advance!

Liam :-)

posted by 72.92.131...
Posts in this Thread:
Members can receive an alert when someone posts in this thread.
Post a Followup

Name:
E-Mail: (Confidential & Secure - Not revealed to other users!)
Send me email when someone posts in this thread: (available to Members)

Subject:

Posting rules are simple - No for sale/wanted ads or live auctions may be here - use the classifieds.
You may not cross-post your message to multiple BBs.
Personal attacks, insults, or flaming are not allowed.
Posting any of this will result in an immediate loss of posting privileges on this site.
Site Members do not see any warning (red) text.

Message:

Optional Link URL: (e.g. http://www.saabnet.com/)
To promote your own Saab site here, you must have a link back to The Saab Network.
Link Title:
Optional Image URL: (e.g. http://www.saabnet.com/img.jpg)


The content on this site may not be republished without permission. Copyright © 1988-2012 - The Saab Network - saabnet.com.
This is a moderated bulletin board - Posting is a privilege, not a right. Unsolicited commercial postings are not allowed (no Spam). Please, no For Sale or Wanted postings, SERIOUSLY. Classifieds are to be listed in The Saab Network Classifieds pages. This is a problem solving forum for over 250,000 Saab owners, so expect to see problems discussed here even though our cars are generally very reliable. This is not an anything goes type of forum. Saabnet.com has been a moderated forum since 1988. For usage guidelines, see the Saabnet.com Mission and Purpose Page. Please remember that you are not anonymous. Site Donations
Your address is: 67.202.9.192 - Using CCBot/2.0 - Logged.
Site Members do not see red text instructions, green links, and bottom of the page banners.
Click here to see all the Site Membership Benefits!