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Old 04-09-2009, 09:11 AM
 
Location: VA
236 posts, read 668,133 times
Reputation: 99

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Quote:
Originally Posted by A-BIG-NOTHING View Post
The appraisal came back today. it's at $440k. better than i had anticipated (by 10k). the re-fi is going to happen.
Congrats
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Old 04-09-2009, 09:46 AM
 
161 posts, read 277,813 times
Reputation: 37
Quote:
Originally Posted by Samara11 View Post
Congrats
Thank you very much :-)
the title company is charging me 1200 bucks though! and the lender is charging me another 1200!!!
the title company will charge me another 1100 in taxes if i go with a different bank than my original/existing bank!
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Old 04-10-2009, 08:07 PM
 
161 posts, read 277,813 times
Reputation: 37
I just got the papers from my lender to sign......
i'll be reviewing in detail over the weekend.....my current loan amount is 340k and he said that if i want to make the loan only under my name (currently, it's under me and my girlfriend's name), i would have to lower the debt to income ratio and put another 10k towards principle.

SO.......330k loan at 4.75%. 30years fixed. (180PMI is dropped. previous rate was 5.25%. payment will be 2200 instead of 2550)

planning on staying in the house for at least 10 years so it seems to make sense. but should i wait for rates to go lower? any thoughts?
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Old 04-11-2009, 04:22 PM
 
Location: NoVA
230 posts, read 643,912 times
Reputation: 112
Hmm, I would jump on saving $350 a month. Rates could go lower, but they could go higher instead. The value of your home could also drop, so think about that. You have a good deal in your hands, I say go for it.
Now, on the girlfriend issue, that is a sticky situation. Normally I wouldn't recommend putting it in both of your names if you are not married, but that is up to you. Does she pay 50% of your current mortgage and utilities?
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