Comments on: It’s Friday…Mortgage Rates are unchanged (for now)

By: Rent vs Purchase: A Comparison | Seattle Bubble — News & discussion about real estate & the housing bubble in the Seattle area.

Thu, 21 Aug 2008 17:12:11 +0000

[...] decides to sell the property, increase rent, convert the condo, etc.). On comments from last Friday’s post on interest rates, there is a discussion debating if one could consider having a mortgage as a forced savings plan. I [...]

By: Lena

Lena — Thu, 12 Apr 2007 19:22:43 +0000

Rhonda, thank you for the quick reply and the useful input!

By: Rhonda Porter

Rhonda Porter — Thu, 12 Apr 2007 18:01:30 +0000

Hi Lena,
With excellent credit, you should not be rushed (obviously, I do not know all of your financial details).

You could also consider 100% financing with just one loan using LPMI (lender paid mortgage insurance). Often times, I have found that this product provides a lower payment than the 80/20 scenario.
Fannie Mae Flex 100 may also be an option (with or without LPMI).

Even if 80/20’s are going away (I have not received any word of 80/20’s stopping as of Sunday); there are other options for “prime” borrowers.

By: Lena

Lena — Thu, 12 Apr 2007 17:48:38 +0000

Hi Guys -
I see there was a discussion regarding 80/20 loans going away about a month ago. My fiance and I are first-time home buyers with excellent credit scores but 0 downpayment. The loan officer from Chase is telling us that if we submit an application before sunday, 4/15 3pm, we can still get the 80/20 deal. I am trying to figure out wheter it’s a valid claim or we are being falsely rushed. Is there a deadline when 80/20 program stops? Will the 80/20 deal will still be available to people with good credit scores/ non subprime?

Thank you,
Lena

By: Rhonda Porter

Rhonda Porter — Thu, 29 Mar 2007 18:01:57 +0000

Siul, I don’t know what or who you’re talking about.

By: Siul Onarres

Siul Onarres — Thu, 29 Mar 2007 17:51:22 +0000

you should not do marketing calls to cellular phones, it is very annoying and there is a charge for the incoming call.
Please stop doing it

By: The Great Rent vs. Own Debate | Rain City Guide | A Seattle Real Estate Blog...

Thu, 15 Mar 2007 04:30:38 +0000

[...] The Great Rent vs. Own Debate March 14, 2007 Owning a home is not right for everyone. There are certain benefits to not owning the home you live in. If something goes wrong with the property, you simply ring up the landlord and they get to fix it. You pretty much know what your cost are going to be month to month (unless your landlord decides to sell the property, increase rent, convert the condo, etc.). On comments from last Friday’s post on interest rates, there is a discussion debating if one could consider having a mortgage as a forced savings plan. I know I’m going to seem biased since I am a Mortgage Planner…and I fully expect all of the number-crunching-junkies out there to have a heyday with what I’m about to post…but here goes! [...]

By: synthetik23

synthetik23 — Thu, 15 Mar 2007 00:03:31 +0000

In San diego I rented a $695K condo with sweeping water and city views for $1800/mo. It’s been over a year and the realtor/owner of that property still cannot sell even though he’s dropped down to a range of $495-515K. Ouch.

I believe there was much more speculation (especially in condos!) in San Diego, which lead to a large avaialability of condos to rent.

By: Eleua

Eleua — Wed, 14 Mar 2007 21:12:01 +0000

When it is late September, and I find 3 properties that would be suitable, it is easy to get the LL’s in the mood when you lay it all out and ask them what they can do.

20% off is usually pretty easy to do. 80% of a full lease is better than 100% of an empty house. LL’s are better at math in September than they are in June.

This is no different than during the seller’s market when an owner would tell the 3 interested parties to start their bidding.

Higher end properties do not lend themselves to renting from an investment point of view. You need smaller, cheaper, higher density houses for things to make economic sense.

The fact that we have had a huge property bubble makes renting nice houses for very few dollars a common reality.

I would NEVER rent this house out as an investment. A $30K+/yr negative cash flow would be a non-starter for me. Now that the HELOC machine is broken, I’m curious how much longer it will make sense for others.

By: Zag11

Zag11 — Wed, 14 Mar 2007 20:47:45 +0000

“So, when someone like me comes along, a defacto bidding war starts with the LLs. They become very negotiable when you don’t look like you are on parole or fresh out of a Pioneer Square flophouse”

Does that pertain to Kitsap or renters in general?

40-45% of the Seattle “households” (I used that terms loosely) rent