gave an offer, accepted now all the paper work! They want to close by August 17th, we just need to get out of our lease.

2004 3/2 split plan, 2 car garage, 1692 sq feet, oversized lot, upgrades in the kitchen, best thing about it, we don't have to do anything to move in. The house is great, no need for paint, flooring, anything until we want to and save some money up!

My girl and I are very excited, glad the search process is over. Now its time to get raped on the closing.

 

Congrats! Please post some pics as soon as you can.

 

 

how much $$$ ?

 

Congrats !!

 

Congratulations!

August 17th is my birthday.

 

wayyyyy to much!

Lets just say the price is in the high 200's. I'd like to believe this is the hottest area of Orlando and honestly see no real reason why it would drastically drop.
For anyone familar with Orlando its near UCF, back in Waterford, right next to Avalon Park.

 

 

Yeah, the Orlando and Tampa markets have heated up.... It's not like in the "old days" when everything down in Florida was cheap. I noticed that a place like mine (1100 sq. ft., 3br, 3car) up here in SE MA will sell for about the same (maybe a little lower) down there in FL in/around one of the big cities.

I've been researching some stuff down in FL, so if need some housing info (good neighborhoods to buy in), don't be surpised if you get a PM from me

 

I guess its all relative, but that sounds pretty cheap to me. Good job

 

High 200's? Sheet. I sell my 2/2 1000 sf condos for $350,000 and they are just converted apartments. But then again, everyone would live in San Diego if it were cheap to live here.

 

send me a PM if you have questions, I have been in this area for a while now. Its got great potential. Plus the bigger UCF gets the better the area could get to, as well as downtown Orlando growing

 

I'll try and get some pictures up as soon as I can, the only thing I'd really like to do once I move in is fence in the yard (which is nice cause its actually a decent size) and put tile in the kitchen and baths and foyer (currently have nice vinly)

 

I was going to go "Damn ! hi-200K for a condo...in Orlando"....but yours is brand new and 3 BRs right ? well here in NE for that money you get 1-1/2 BR

 

Congratulations! And why would you get raped on the closing? Who is your realtor and who will do your financing?

 

I guess I don't mean raped, but 6-7 grand at closing is a lot of money for someone who has nothing saved up. We are using Century 21 and the mortgage company is I guess a smaller one, Citizen Trust, ever heard of them?

 

Its a 3/2 single family home, not a townhouse, built in 2004.

 

How come you are not going through Century 21 mortgage? 6-7 sounds high.

 

We are using the lender our realtor suggested. The house price was 280k, I am not exactly sure yet what our portion of closing costs will be, hopefully figure that out later today but you think that is high? What kind of questions should I be asking, I am a first time home buyer and unfortunately am relying on my real estate agent to help me out. I feel lost because its all happening really fast and I don't want to get burned but there is so much I don't know.

BigPimp any help or info would be appreciated!

 

Personally, I would not rely on your agent for mortgage recommendations. Agents, not all, but most, know very little about mortgages. Which C21 office is your agent with? Also, the broker should be able to give you a good faith estimate. I can take a look at it for you and let you know if you are getting a bad deal.

I am very closely associated with Century 21 Mortgage, we basically own the name Century 21 and majority of the deals go through us.

 

Congrats. That's a good price for a detached home.

 

I spoke with my mortgage lady again this morning and requested we set up a meeting hopefully later today or tomorrow to fully understand our 1st and 2nd, depending on what we do. After that I will try and get back with you because at times I'm feeling totally lost. I really wish it wasn't that complicated, I don't want to get screwed and because I do not understand everything I tend to feel like that, even if I am not. Knowledge truely is power! I'll try and get my mortgage plan and rate and see what you think!

 

What company is she with? Let me know what works out, I will help understand.

 

She works for Citizens Turst, ever heard of them, i'm pretty sure they umbrella under someone else. As for the details i'll let you know tonight, thanks

 

I think everyone should check around for rates before choosing someone. There are basically 2 types. Mortgage brokers and banks reps. Brokers can shop around while bank reps only sell their stuff. There are some banks that brokers don't have access to. So the more you shop around, the better the rate you can find. You can find rate quotes without having to fillout an app and running your credit.

I'd suggest checking with at least a few credit unions and banks and a broker. You can expect to save 0.1-0.5% on average if you shop.

 

good advice, I'll definitely check other places!

 

Add $150k and that's south FL. Congrats on actually buying a house house.

I work for a lender. Ask away.

 

give me keys/codes to the safe, please

 

www.fanniemae.com Good luck

 

We do our own loans too. Dress warm cuz Minny is cold all the time.

 

Bottom line is if you don't have any money to really put down and you get interest only you pretty much get screwed!
I'll have to scan the good faith offer we got yesterday and show some people on here, basically it was 279. Mortgage plus insurance and property tax came out to like 1850 a month, does that sound high? Plus closing costs of around 6500! I'll try and scan that paper work as fast as I can, what do you guy think?

 

Your payment is determined by the rate, loan amount, and # of years plus your taxes and insurance. You can't change the taxes but you might be able to shop around the insurance. However in FL it's hard to get coverage since we have all the hurricanes. I could only get Citizens since by law they have to insure you when nobody else will. You can find an insurance agent but sometimes the broker has a hook up. Show us the GFE and we'll see what's up with the fees. Sometimes they'll add junk fees or juice up fees. I know there's a few brokers on the site that I'm sure would like to help.

 

damn i am glad i can get some good info from here, since the wife and i are going to be shopping and possibly buying a house ina few months in harrisburg

 

Gotta love the AZ. Yeah dallison when you're ready to talk, make the post, if I don't post PM me. Oh and I won't be posting again until Monday after 4 or 5 today. I'm moving this weekend so no DSL until possibly Sunday night since I have to reconnect the computer. The line is already ready though.

 

Go get pre approved makes it alot better and you know what you can afford.

 

This does not say much. What is the term of the loan? Are they giving you a hybrid loan, meaning two loans to avoid mortgage insurance? Is the payment interest only?

Seeing the GFE will help solve the puzzle.

 

Still nothing?

 

sorry about the wait, I am actually opting for a different 1st and 2nd.
First mortgage is a 7 ARM, second is a 5 year fixed line of credit I think. I am suppose to get the new paper work today. This seemed like my best option! (I hope) other then that I'm getting the appraisal done soon and then the inspection. If I get the email from the broker today i'll try and scan it so you guys can check it out.

How does the 7/5 sound?

 

It's normal for a purchase to be an 80/20 where you put 0 down. LIke Bigpimp said, they do those to avoid MI and allow you to finance as much as possible. Scan the GFE when you can. Sometimes the broker can email it to you too.