Hi Mike, welcome, have a fresh-baked virtual muffin and/or a beer!
Thanks for the clarification on FHA - I think I was confusing it with FNMA "Fannie Mae" the reseller stuff. My oops. And Jon, a house with mortgage interest and property tax payments is the only real Income Tax break left these days. By paying these two things, all of a sudden charitable contributions and stuff become deductible because you don't just get the standard deduction. -Ben > <CF_DELURK> > > By all means - get a buyers agent - they are sort of "on your side" even tho > they get paid out of the commission on the sale of the house they will help > advise you on some of the ins-and-outs of a home purchase. > > Also, regarding the mortgage guy...it wouldn't hurt to hear what he has to say > but I wouldn't listen in a vacum - shop around for the different types of loans. > The buyers agent should help you with this. FHA isn't necessarily a bad deal - > don't know what state you are in but here in Virginia, we have the VHDA as well > - a quasi-state agency that can help low to moderate income folks get into a > house with some pretty creative loans - my wife and I went with what's called a > "step loan" - interest rate incrementted by .25% each year for the first 3 years > and then leveled off. This really helped with our payments because they started > off lower for the first year and allowed us to qualify for the loan. > > Lot's of painful details to consider but also one of the smartest ways to spend > money you will ever find. > > don't let the seller push you around. > > </CF_DELURK> > > > -----Original Message----- > From: Beth F [mailto:[EMAIL PROTECTED]] > Sent: Wednesday, May 29, 2002 4:34 PM > To: CF-Community > Subject: Re: first house questions... > > > LOL! WAIT > I meant BUYERS > yes, you should get a BUYERS agent. They are specializing in helping buyers > sort out all this and getting you the best price - and the fee is paid by > the seller - the buyer and the sellers agents split the commission. If > there is no buyers agent the sellers agent gets the whole commission, thus > he is pushing you to work with him. > ----- Original Message ----- > From: "Jon Hall" <[EMAIL PROTECTED]> > To: "CF-Community" <[EMAIL PROTECTED]> > Sent: Wednesday, May 29, 2002 12:22 PM > Subject: Re: first house questions... > > > > So you are saying I should get a sellers agent? ;-) > > Thanks though, I didn't know there was such a thing. > > > > jon > > ----- Original Message ----- > > From: "Beth F" <[EMAIL PROTECTED]> > > To: "CF-Community" <[EMAIL PROTECTED]> > > Sent: Wednesday, May 29, 2002 4:12 PM > > Subject: Re: first house questions... > > > > > > > > All of you guys have so much worldy experience, maybe you guys can > > > > help...I'm buying my first house and I just learned that I've been > > > > preapproved for my mortgage, but I was wondering, are houses > negotiable > > > like > > > > cars, or should I just take the asking price? > > > > > > It depends on the market in your area. Get a sellers agent - they will > be > > > able to help you. > > > > > > > > > > Also I am just working with the mortgage guy that the person who is > > > selling > > > > the house refered me too, and I'm sure they are running some sort of > > > > deal...they all are (damn capitalist pigs!). Is this a good idea, or > > > should > > > > I hunt around for different mortgage guys? The house guy is saying > > > "another > > > > agent" is showing the same house, and I get the feeling he is trying > to > > > rush > > > > me...gives me bad vibes. > > > > > > Get a sellers agent. > > > > > > > > > > Last question, the mortgage guy keeps talking about FHA loans and I > have > > > no > > > > clue what they are, but it sounds governmental, and I don't want the > > govt > > > > hosing up my house. Anybody have any advice, or info about the FHA > > thing? > > > > > > You might be able to get an interest rate discount using an FHA loan. > Get > > a > > > sellers agent. > > > > > > > > > > > > > > > > ______________________________________________________________________ Structure your ColdFusion code with Fusebox. Get the official book at http://www.fusionauthority.com/bkinfo.cfm Archives: http://www.mail-archive.com/[email protected]/ Unsubscribe: http://www.houseoffusion.com/index.cfm?sidebar=lists
