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- https://owning.com/ for very low rates to compare against, show the broker to match.
- Fixed rate for 15 or 30 years, or adjustable rate. Lock in the starting rate for 5 or 7 years, then it becomes variable. It’s usually very low at first, and then there’s greater risk of increasing later. You can sell/refi at that time.
- Scheduled haircut.
- Remember the writeoffs. Remember that living aside, it’s just another investment. Better to take a mortgage if you have other assets that are appreciating at a higher rate than the interest on the loan.
- BoA 3.375 for 30, 2.875 for 15, with 20 down, fixed. Great rates. They reduce even a bit further with 250k in boa merrill lynch.
- I don’t like being in debt for 30 years, even if it’s the better long play. Maybe 5/1 ARM, 15yr, 20down. Could probably get interest rates as low as 2.5% with a 2500ish monthly, if the home is 500-600k. We’ll see.
- Started using BoA’s Home Loan Navigator tool. Integrates nicely with the rest of the account.
- Regenerate preapproval letter to max at your best offer so the seller doesn’t see the higher ceiling and push.
