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re: So all I need to do to afford a $750,000 house
Posted on 3/20/25 at 8:46 am to SDVTiger
Posted on 3/20/25 at 8:46 am to SDVTiger
quote:
Many lenders offer no-closing-cost mortgages
quote:
There is no such thing
2025's Top 10 Mortgage Lenders - No closing cost mortgage
LINK
one would think you would feel shame for being wrong so many times, but you just lean right into it and embrace the stupidity
2
Posted on 3/20/25 at 8:48 am to SDVTiger
quote:No.
So you scholars would chose a much higher rate to get the credit to cover the costs?
You said IT CANNOT BE DONE!
Of course it can be done!
And when rolling points in TO LOWER RATES there is indeed a trade off in that you're amortizing cost of the points. So over 30yrs, the cost may be triple the actual stand alone offer. However, the overall cost of financing may also be reduced at term.
This post was edited on 3/20/25 at 8:49 am
Posted on 3/20/25 at 8:48 am to goldennugget
quote:
So all I need to do to afford a $750,000 house
Why you need a house that expensive?
quote:
Is to cancel my Netflix subscription and stop buying lattes and avocado toast?
Who told you these things?
quote:
Also can you point me in the direction of those $500 beater cars that are always being talked about while you're at it?
Wait so you want all that plus a $500 car?
None of this shite makes sense.
Posted on 3/20/25 at 8:48 am to AuburnTigers
quote:It’s the only thing he knows apparently
lean right into it and embrace the stupidity
Posted on 3/20/25 at 8:52 am to AuburnTigers
quote:
2025's Top 10 Mortgage Lenders - No closing cost mortgage
Are there closing costs with every mortgage?
The answer is yes. So there is no such things as a no closing cost mortgage
You linked bankrate which not one single mention of No closing cost mortgages
You can be fined for that cause its misleading. Fricking inbreds
Posted on 3/20/25 at 8:52 am to llfshoals
Arent you a realtor?
Fricking inbreds
quote:
There’s no such thing as a truly "no closing costs" loan because every loan has costs associated with it. However, lenders often advertise "no closing cost" loans, which usually means:
Lender-Paid Closing Costs – The lender covers some or all closing costs in exchange for a slightly higher interest rate.
Seller-Paid Closing Costs – The seller agrees to pay some or all of the buyer’s closing costs as part of negotiations.
Rolling Costs into the Loan (for refinances) – In refinance scenarios, closing costs can be added to the loan balance, but this isn’t common in purchases.
So, while you may not pay closing costs out of pocket, they are still accounted for in the loan structure.
Fricking inbreds
This post was edited on 3/20/25 at 8:58 am
Posted on 3/20/25 at 8:56 am to SDVTiger
quote:
SDVTiger
Posted on 3/20/25 at 8:58 am to AuburnTigers
Yeah are clearly a moron
But yeah you have bought homes and rolled in the closing costs
But yeah you have bought homes and rolled in the closing costs
Posted on 3/20/25 at 9:02 am to SDVTiger
quote:If you're not smart enough to understand that it means "no up front" closing costs, you're definitely not smart enough to own a home.
So there is no such things as a no closing cost mortgage
Posted on 3/20/25 at 9:03 am to SDVTiger
quote:Apparently you can't afford to pay attention, no way you can afford to pay a mortgage.
But yeah you have bought homes
Posted on 3/20/25 at 9:06 am to SDVTiger
quote:Wait!
But yeah you have bought homes and rolled in the closing costs
Are you honestly under the impression that rolling in points costs the buyer more money overall during the entire period of the loan? Because in your zeal to double down on stupid, it seems like that is what you're saying.
Posted on 3/20/25 at 9:10 am to NC_Tigah
quote:
Are you honestly under the impression that rolling in points costs the buyer more money overall during the entire period of the loan? Because in your zeal to double down on stupid, it seems like that is what you're saying.
What are you talking about?
The only way to get a credit to cover out of pocket closing costs is to get a sellers credit ( most likely meabing higher purchase price to get the credit) or take a higher rate to get a credit. And that would have to be at least a .5 higher to cover that
So what do you mean roling in points? You wouldnt be paying points to get the credit
Posted on 3/20/25 at 9:11 am to SDVTiger
quote:
But yeah you have bought homes and rolled in the closing costs
Posted on 3/20/25 at 9:15 am to SDVTiger
quote:OMG!
What are you talking about?
You're slinging out IQ invectives like someone tossing balls at an arcade pop-a--shot, and you don't know what I'm talking about?
Posted on 3/20/25 at 9:17 am to SDVTiger
quote:No way. Home appraises for 160K. Purchase price is 150K. Down payment is 30K, but you can borrow up to 80% of 160K or 128K. Leaving 8K to cover the out of pocket costs at closing.
The only way to get a credit to cover out of pocket closing costs is to get a sellers credit ( most likely meabing higher purchase price to get the credit) or take a higher rate to get a credit. And that would have to be at least a .5 higher to cover that
On the other hand. If the home appraises for 150K but your purchase price is 160K. The loan amount will be 120K and you'll have to come up with the 40K difference and the closing costs....
Posted on 3/20/25 at 9:19 am to NC_Tigah
quote:
You're slinging out IQ invectives like someone tossing balls at an arcade pop-a--shot, and you don't know what I'm talking about?
You are talking about paying points when we are talking about closing cost credits
Yeah none of you know what yoh are talking about
Posted on 3/20/25 at 9:24 am to SDVTiger
quote:
Yeah none of you know what yoh are talking abou
quote:
SDVTiger
Posted on 3/20/25 at 9:30 am to AuburnTigers
You posted Bank Rate as a source of no closing costs lenders yet nothing said no closing costs
NC is now talking about paying points when we are talking about credits
Your inbred cousin now says "no upfront costs" which loan has upfront costs?
And what are those? Every example for rolling in closing costs provided is for a refi
You posted a crack house and try to argue its renovated :lol:
NC is now talking about paying points when we are talking about credits
Your inbred cousin now says "no upfront costs" which loan has upfront costs?
And what are those? Every example for rolling in closing costs provided is for a refi
You posted a crack house and try to argue its renovated :lol:
Posted on 3/20/25 at 9:31 am to SDVTiger
quote:No nitwit.
we are talking about closing cost credits
Sorry!
"Closing costs" is the terminology you were using.
Further the discussion stems from someone commenting on "buying down" (aka paying points) a 16% rate to 13% in the 1980 timeframe.
Posted on 3/20/25 at 9:36 am to SDVTiger
quote:
You posted Bank Rate as a source of no closing costs lenders yet nothing said no closing costs
quote:
Every example for rolling in closing costs provided is for a refi
quote:
we are talking about credits
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