Dismiss Notice

Welcome To CK5!

Registering is free and easy! Hope to see you on the forums soon.

Score a FREE t-shirt and membership sticker when you sign up for a Premium Membership and choose the recurring plan.

Goin in for a loan tommorrow...any tips?

Discussion in 'The Lounge' started by laketex, Jan 18, 2004.

  1. laketex

    laketex 3/4 ton status

    Joined:
    Feb 17, 2000
    Posts:
    6,220
    Likes Received:
    0
    Location:
    North Texas
    Well we're biting the bullet on staying here 4 or 5 years. My wife is going to go to grad school and I'm going to get my CSP, take spanish classes, and possibly emt/firefighter. Anyway, we figure dropping $12K on rent/year for 5 years is dumb, so we're going in to see if we can get preapproved. Around here, we're looking at a 150K to 200K house. Although I'd obviously prefer a 20 year loan, at those prices, we'll probably have to be looking at a 30 year fha loan. Any tips? Advice? Pretty new to this, but I've figured up I've spent $40,000 on rent over the past 9 years /forums/images/graemlins/eek.gif, all summed up. That's insane and it's time to buy! /forums/images/graemlins/grin.gif
     
  2. Confedneck

    Confedneck 3/4 ton status

    Joined:
    Nov 1, 2002
    Posts:
    5,236
    Likes Received:
    0
    Location:
    Lehigh Acres, Florida
    man.. 40k in rent? thats insane for sure.. good luck!!
     
  3. laketex

    laketex 3/4 ton status

    Joined:
    Feb 17, 2000
    Posts:
    6,220
    Likes Received:
    0
    Location:
    North Texas
    Dorms (Texas Tech) = 4,000
    Apt 1 year (Lubbock) = 4,800
    Roommate for a year (Lubbock) = 3,000
    House rent for 2 years (Durant, Ok) = 10,000
    House rent for 1 year (Sherman, Tx) = 6,000
    Townhouse rent for 1 year (Batavia, IL) = 12,000


    Yeah it hurts to think about. /forums/images/graemlins/frown.gif
     
  4. big pappa b

    big pappa b 3/4 ton status

    Joined:
    Jan 3, 2003
    Posts:
    6,328
    Likes Received:
    0
    Location:
    Falcon, Colorado
    Shop around for interest rates. They are really low now so don't take the first one you can find
     
  5. laketex

    laketex 3/4 ton status

    Joined:
    Feb 17, 2000
    Posts:
    6,220
    Likes Received:
    0
    Location:
    North Texas
    You mean go to different financing institutions? I didn't know rates would differ from one to the other?
     
  6. R72K5

    R72K5 Banned

    Joined:
    Mar 5, 2001
    Posts:
    8,905
    Likes Received:
    0
    Location:
    central IL
    what is CSP ?
     
  7. big pappa b

    big pappa b 3/4 ton status

    Joined:
    Jan 3, 2003
    Posts:
    6,328
    Likes Received:
    0
    Location:
    Falcon, Colorado
    Oh sure. Banks make money on the money they loan but they also have to be competitive with their rates. They are not all the same
    This place, Ditech.com has been all over the tv. Check out their site for loan info before you go to a bank. They also have a 24hr loan hotline
     
  8. laketex

    laketex 3/4 ton status

    Joined:
    Feb 17, 2000
    Posts:
    6,220
    Likes Received:
    0
    Location:
    North Texas
    Certified Safety Professional. Having that accredition should jack my pay by around 10 to 20K on the next job.

    And thanks pappa b! I'll shop around.
     
  9. Thunder

    Thunder 3/4 ton status

    Joined:
    Jul 20, 2000
    Posts:
    8,946
    Likes Received:
    1
    Location:
    Northeast Nevada
    Yeah Ditech is good. They are a subisidary of GMAC. Either that go:gmacmortgage.com
    Might as well sitck with GM right? /forums/images/graemlins/grin.gif
    They have all kinds of calculators, and tools to see how much you can qualify for and what payments will be. Tons of info there on borrowing money too. Check out "The Learning Center" /forums/images/graemlins/thumb.gif
    Borrowing money on line is the only way to go in my opinion. Its cheaper than most all banks.
    I have financed 2 houses on line and never been inside of a bank, Never had to talk to some jerkoff loan officer.
    Just fedex the paper work back and forth they pay for everything. When the deal closes you go down to the title company and sign your life away. Easy.
     
  10. thatK30guy

    thatK30guy 1 ton status Premium Member

    Joined:
    Jan 12, 2001
    Posts:
    32,076
    Likes Received:
    55
    Location:
    .
    Want some tips? /forums/images/graemlins/thinking.gif

    Go to the loan officer and, "listen mutha ****a." /forums/images/graemlins/rotfl.gif /forums/images/graemlins/rotfl.gif /forums/images/graemlins/rotfl.gif /forums/images/graemlins/thumb.gif
     
  11. laketex

    laketex 3/4 ton status

    Joined:
    Feb 17, 2000
    Posts:
    6,220
    Likes Received:
    0
    Location:
    North Texas
    yeah um, that didn't work worth a [darn] with my boss...why should this be different? /forums/images/graemlins/rotfl.gif
     
  12. Confedneck

    Confedneck 3/4 ton status

    Joined:
    Nov 1, 2002
    Posts:
    5,236
    Likes Received:
    0
    Location:
    Lehigh Acres, Florida
    because you didnt say "listen HERE mutha fugga" /forums/images/graemlins/rotfl.gif /forums/images/graemlins/rotfl.gif
     
  13. Stomper

    Stomper ΜΟΛΩΝ ΛΑΒΕ GMOTM Winner

    Joined:
    May 11, 2002
    Posts:
    3,767
    Likes Received:
    0
    Location:
    Iowa
  14. thatK30guy

    thatK30guy 1 ton status Premium Member

    Joined:
    Jan 12, 2001
    Posts:
    32,076
    Likes Received:
    55
    Location:
    .
    [ QUOTE ]
    because you didnt say "listen HERE mutha fugga" /forums/images/graemlins/rotfl.gif /forums/images/graemlins/rotfl.gif

    [/ QUOTE ]

    Now I just thought of another quote that should have gone like this: "Now, listen here mutha ****a."
     
  15. R72K5

    R72K5 Banned

    Joined:
    Mar 5, 2001
    Posts:
    8,905
    Likes Received:
    0
    Location:
    central IL
    hahaha

    the ditech commercials are [darn] annoying, im glad they dont show so often now, just a tiny bit overkill on their advertisement spending me thinks.


    oh and what exactly is a subsidary ?

    thanks
     
  16. Z3PR

    Z3PR Banned

    Joined:
    Mar 30, 2002
    Posts:
    19,217
    Likes Received:
    0
    Location:
    Everywhere
    Lost another loan to Ditech.
     
  17. laketex

    laketex 3/4 ton status

    Joined:
    Feb 17, 2000
    Posts:
    6,220
    Likes Received:
    0
    Location:
    North Texas
    are you a broker?
     
  18. Z3PR

    Z3PR Banned

    Joined:
    Mar 30, 2002
    Posts:
    19,217
    Likes Received:
    0
    Location:
    Everywhere
    No, just repeting the adds I see sevreal times a day on TV. /forums/images/graemlins/rotfl.gif /forums/images/graemlins/rotfl.gif
     
  19. mudjunkie 82

    mudjunkie 82 1 ton status GMOTM Winner

    Joined:
    Dec 27, 2002
    Posts:
    11,449
    Likes Received:
    0
    Location:
    Cleveland Ohio
    [ QUOTE ]
    because you didnt say "listen HERE mutha fugga" /forums/images/graemlins/rotfl.gif /forums/images/graemlins/rotfl.gif

    [/ QUOTE ]It's MOOOOOOOOO fuggaa /forums/images/graemlins/thumb.gif
     
  20. laketex

    laketex 3/4 ton status

    Joined:
    Feb 17, 2000
    Posts:
    6,220
    Likes Received:
    0
    Location:
    North Texas
    Thanks guys, I"m trying to learn all i can from ditech and gmac. I'll go in and talk to a lady tommorrow, and prob one on thursday, then do the online thing with ditech and gmac. See what I qualify for and what will work for me.

    Thanks again,

    Bryan
     

Share This Page