Comments on: Adventures in First-Time Homebuying #5: Your Sexy and Glamorous Journey to Pre-Approval, Part 1 http://www.punny.org/money/adventures-in-first-time-homebuying-5-your-sexy-and-glamorous-journey-to-pre-approval-part-1/ Adding a punchline to your bottom line Thu, 04 Dec 2008 00:33:12 +0000 http://wordpress.org/?v=2.6.2 By: Adventures in First-Time Homebuying #5: Your Sexy and Glamorous Journey to Pre-Approval, Part 2 | Punny Money http://www.punny.org/money/adventures-in-first-time-homebuying-5-your-sexy-and-glamorous-journey-to-pre-approval-part-1/#comment-1956 Adventures in First-Time Homebuying #5: Your Sexy and Glamorous Journey to Pre-Approval, Part 2 | Punny Money Tue, 08 Aug 2006 23:14:45 +0000 http://www.punny.org/money/adventures-in-first-time-homebuying-5-your-sexy-and-glamorous-journey-to-pre-approval-part-1/#comment-1956 [...] In the first part of this episode, we discussed how to pay for a house and where to get a loan if you need one. Now let’s take a look at some of the ways you can find the mortgage lender or broker who is right for you. [...] [...] In the first part of this episode, we discussed how to pay for a house and where to get a loan if you need one. Now let’s take a look at some of the ways you can find the mortgage lender or broker who is right for you. [...]

]]> By: Mike http://www.punny.org/money/adventures-in-first-time-homebuying-5-your-sexy-and-glamorous-journey-to-pre-approval-part-1/#comment-1925 Mike Fri, 04 Aug 2006 00:37:24 +0000 http://www.punny.org/money/adventures-in-first-time-homebuying-5-your-sexy-and-glamorous-journey-to-pre-approval-part-1/#comment-1925 I'll also add that owner financing probably happens more often than not through "flippers". These investors buy and flip homes, and provide owner financing so they not only get the profit from the sale, but also all the interest of the loan (much of it paid up front). There is a large market to sell these privately held mortgages (aka Notes), so if done right, you can make profit all around when selling this way. I’ll also add that owner financing probably happens more often than not through “flippers”. These investors buy and flip homes, and provide owner financing so they not only get the profit from the sale, but also all the interest of the loan (much of it paid up front).

There is a large market to sell these privately held mortgages (aka Notes), so if done right, you can make profit all around when selling this way.

]]> By: Mike http://www.punny.org/money/adventures-in-first-time-homebuying-5-your-sexy-and-glamorous-journey-to-pre-approval-part-1/#comment-1924 Mike Fri, 04 Aug 2006 00:33:36 +0000 http://www.punny.org/money/adventures-in-first-time-homebuying-5-your-sexy-and-glamorous-journey-to-pre-approval-part-1/#comment-1924 I found that brokers have access to a huge range of mortgage plans compared to a single bank, but rarely will one spend the time to go through each and every one with you for you to decide which one you want. More than likely, they'll "narrow it down for you", but you'll never know what else you could have gotten instead. This isn't so much a complaint about brokers as a cautionary tale. I'm not unhappy with my rate, nor the overall terms, but I wonder if she could have found a new homebuyer's plan for me rather than a standard plan. I found that brokers have access to a huge range of mortgage plans compared to a single bank, but rarely will one spend the time to go through each and every one with you for you to decide which one you want. More than likely, they’ll “narrow it down for you”, but you’ll never know what else you could have gotten instead.

This isn’t so much a complaint about brokers as a cautionary tale. I’m not unhappy with my rate, nor the overall terms, but I wonder if she could have found a new homebuyer’s plan for me rather than a standard plan.

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