In these times, large down payments and 15 year loans make more sense. But that means qualifying for less house which translates to lower commissions.
Plus she has a far better credit rating than me!
....................I did not see much of the Commission, either!
Personal discipline and deferred gratification are rare qualities. Look at all the shoppers who have no resistance to this Black Friday nonsense. Yeah, that big screen looks cheap, but I see no need to replace 20 year old stuff only because the new & better is "on sale". I wonder how many black friday shoppers have 830 credit scores.
Having said that, I have a few lenders that I keep in my back pocket for where the lender has the Patience, experience, will and that are not after instant gratification financially, that I send all sorts of clients to, so that they can get the help needed 'for free' to repair their credit with the object of purchasing a home.
The lender will map out a course for you with things to do and target dates to meet, with the pledge that if you follow the guidance given they will be willing to lend at a predicted date in the future. The better you do and the better your credit rating becomes then of course it follows that the lower your interest rate will be. The longest this process has taken for any of my clients has been about 18 months, to 2 years.
I have never seen a 3.25% interest rate that was not an 'adjustable rate mortgage' in the almost 30 years I have been selling real estate which is why I pushed my step-daughter into buying. Because a 3.25% Fixed Rate Mortgage is probably as close to 'Free money' as any of us will ever be lucky enough to get.
3.25% is indeed great. Its also effectively about 2.5% after the mortgage interest deduction. She must be very happy. Best wishes to you both at Thanksgiving!
quizzle.com (run by the quicken people) is a great place to get your credit report AND score instantly for FREE..no catches. they have lots of financial tips & advice for all kinds of stuff too. they also have paid plans for credit monitoring, repair etc.. just answer no!
my credit is great, dad beat financial responsibilty into our heads from a very young age & i've been lucky with job stability. i bought my house by myself at age 25 & just refinanced down to 2.75%!!
Any cop would have reacted to her charge to the car with some form of violence. I am sure all of their training would dictate that they stop her before she can get to the car and either drive away or get a weapon. What was she gonna do if she got the car started? Drive them over and/or start a high speed chase?
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