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Old 01-22-2013, 01:24 PM   #61
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Wasn't saying 790 as if it's some ludicrously high credit score...790 is pretty good, but obviously above 800 is excellent. I was saying it to give full disclosure...the 790 actually hurt me a little in my rate.
850 is the best you can have. The 790 will not hurt you in the rate the fact you did a USDA loan is what hurt you in the rate.
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Old 01-23-2013, 10:29 AM   #62
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850 is the best you can have. The 790 will not hurt you in the rate the fact you did a USDA loan is what hurt you in the rate.
Yea the 3.0% interest (which is still quite low) could have been down to 2.8% I think ...but I'm not worried about it overall. Total mortgage with taxes and homeowners per month in a little over $1k so I still have plenty of headroom for my ripoff health insurance plan.
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Old 01-23-2013, 10:31 AM   #63
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850 is the best you can have. The 790 will not hurt you in the rate the fact you did a USDA loan is what hurt you in the rate.
Griff, whats a 30 year fixed looking like nowadays. Can you write in Michigan?
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Old 01-23-2013, 10:57 AM   #64
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850 is the best you can have. The 790 will not hurt you in the rate the fact you did a USDA loan is what hurt you in the rate.
didn't they adjust the metric to a high of 990?
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Old 01-23-2013, 11:14 AM   #65
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Yea the 3.0% interest (which is still quite low) could have been down to 2.8% I think ...but I'm not worried about it overall. Total mortgage with taxes and homeowners per month in a little over $1k so I still have plenty of headroom for my ripoff health insurance plan.
I was just yanking your chain about the credit score.

how did you get a usda loan? are they available to anyone?
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Old 01-23-2013, 11:43 AM   #66
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didn't they adjust the metric to a high of 990?
Nope
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I can honestly say that because of Griffin, i am desensitized to alot of wierd stuff!
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Old 01-23-2013, 11:45 AM   #67
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Griff, whats a 30 year fixed looking like nowadays. Can you write in Michigan?
Nope. Low 3s
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Old 01-23-2013, 12:17 PM   #68
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I was just yanking your chain about the credit score.

how did you get a usda loan? are they available to anyone?
You have to be in a "rural development area" or somewhere like that. My house is not on a farm however. It's on a golf course so don't take the phrase literally.
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Old 01-23-2013, 02:35 PM   #69
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didn't they adjust the metric to a high of 990?
I think you're thinking of the the FICO+ style scores.
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Old 01-23-2013, 02:37 PM   #70
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Nope. Low 3s
If it gets to 3 or less I will contact you. I'm at 3.75% now - closed about a year ago.
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Old 01-23-2013, 02:39 PM   #71
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Got a phenomenal USDA loan (serviced by Chase) 0% down, 3% interest rate and have only been working at the lawfirm since August 2012. Credit score averaged is 790. Age 27. So go suck some **** you idiot. Loans are being handed out to those that can prove that they won't be getting a job flipping burgers at Burger King.
What were the terms? 30yr? Fixed? Did you pay points?
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Old 01-23-2013, 06:52 PM   #72
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Same here. My rate is 4.875 and I was told that I could refinance at 3.875 a few months ago but decided to pass. Too lazy to fill out paperwork, proof of employment and stuffs. Fwiw, I am in my second year of a 30 year loan term.

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I need to fuucking refinance but I'm lazy as sh1t.
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Old 01-23-2013, 06:54 PM   #73
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Same here. My rate is 4.875 and I was told that I could refinance at 3.875 a few months ago but decided to pass. Too lazy to fill out paperwork, proof of employment and stuffs. Fwiw, I am in my second year of a 30 year loan term.
You're too lazy to spend an hour gathering some paperwork that could say you $500 a month?

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Old 01-23-2013, 07:01 PM   #74
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Same here. My rate is 4.875 and I was told that I could refinance at 3.875 a few months ago but decided to pass. Too lazy to fill out paperwork, proof of employment and stuffs. Fwiw, I am in my second year of a 30 year loan term.
i can save you money.
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I can honestly say that because of Griffin, i am desensitized to alot of wierd stuff!
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Old 01-23-2013, 07:48 PM   #75
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Griff what type of ROI do you shoot for on rentals? % wise.
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Old 01-23-2013, 07:51 PM   #76
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Griff what type of ROI do you shoot for on rentals? % wise.
I just do my research to see where the property was and then cut the equity in half from what I bought it for. I figure if I can make it close to that number I did okay.

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I can honestly say that because of Griffin, i am desensitized to alot of wierd stuff!

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Old 01-23-2013, 07:54 PM   #77
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I just do my research to see where the property was and then cut the equity in half from what I bought it for. I figure if I can make it close to that number I did okay.

what?

You cut your equity in half?
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Old 01-23-2013, 07:57 PM   #78
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what?

You cut your equity in half?
lets say I bought a place for 150k.
It was worth at one time 300k.
The difference of that is 150k.
So, I figure if I can watch the market and sell it at 225k. I did pretty good.
If I can get more than awesome if not, I still made out pretty good.
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Old 01-23-2013, 08:00 PM   #79
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lets say I bought a place for 150k.
It was worth at one time 300k.
The difference of that is 150k.
So, I figure if I can watch the market and sell it at 225k. I did pretty good.
If I can get more than awesome if not, I still made out pretty good.
Yeah that sounds like a good formula. So your in the business of "flipping" not renting?
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Old 01-23-2013, 08:02 PM   #80
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Yeah that sounds like a good formula. So your in the business of "flipping" not renting?
I now have 3 rentals. I have done a few flips just to get a bit of fast cash. I am too lazy to do a bunch of flips.
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