| Posted by | Message |
DNaquin 
LSU Fan
Right here
Member since Nov 2011
4012 posts
| Help: Looking at my first home (Posted on 1/2/13 at 1:26 pm)
List price, $154,900. It doesn't need any work. I'm putting the standard 20% down. That puts the loan at $123,920. What additional costs will be included in that loan. I'm mainly looking to think of unexpected costs.
TIA
|
| Back to top | Share on  |
KG6
LSU Fan
Member since Aug 2009
656 posts
| re: Help: Looking at my first home (Posted on 1/2/13 at 1:29 pm to DNaquin)
Down payment and closing costs are what you are going to have to pay. Closing costs can include any loan origination fees (points), bank appraisal, title fees, attourney fees, 1st years insurance, etc. You're probably looking at an additional $5k give or take in fees.
|
| Back to top | |
lsu tigerdog
LSU Fan
Baton Rouge
Member since Nov 2007
93 posts
| re: Help: Looking at my first home (Posted on 1/2/13 at 1:55 pm to DNaquin)
hopefully you get loan with no origination/points, standard fee from lender which is underwriting,lender is going to want 15 months of coverage for homeowners and abt 4 months for taxes, this is to set up your escrow acct plus your fees from the title company.
|
| Back to top | |
DNaquin
LSU Fan
Right here
Member since Nov 2011
4012 posts
| re: Help: Looking at my first home (Posted on 1/2/13 at 2:17 pm to DNaquin)
Thanks, this is what I'm trying to wrap my head around. Basically $30,980 DP plus ~$5,000 means I can be expected to shell out ~$36,000 up front minimum. I'll prepare to spend ~$40,000 to be safe. This is making me nervous as frick. I'm 25 and have been hoarding cash since graduating 2 years ago. I know this is the next step for me, but damn it feels weird handing over a huge chunk of what I busted my arse to get.
|
| Back to top | |
lsu tigerdog
LSU Fan
Baton Rouge
Member since Nov 2007
93 posts
| re: Help: Looking at my first home (Posted on 1/2/13 at 2:22 pm to DNaquin)
if you have questions, you can always call me at 225.291.7901 x 224,no obligations,i'm in the mtg business. 
|
| Back to top | |
DNaquin
LSU Fan
Right here
Member since Nov 2011
4012 posts
| re: Help: Looking at my first home (Posted on 1/2/13 at 2:36 pm to lsu tigerdog)
I appreciate it. If thats a personal number you may want to edit it out before some moron from the OT Lounge discovers it. 
|
| Back to top | |
Drop4Loss
Birds Eye Of Deaf Valley
Member since Oct 2007
1511 posts
| re: Help: Looking at my first home (Posted on 1/2/13 at 7:55 pm to DNaquin)
Ask what fee the appraiser is actually being PAID, in relation to what YOU are paying for the appraisal.
|
| Back to top | |
