UnThreaded | Threaded | Whole Thread (31) | Ignore Thread Prev | Next
Author: jakeburns100 Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127220  
Subject: Re: Getting ready to buy new... Date: 3/20/2002 8:25 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Catherine,

Thanks for the information. I did stumble on to the Mortgage Professor's site--good stuff!

As for my "comprehensive knowledge", I fear that this is not an ailment I suffer from. Words are part of my day job and I'm able to use them to cover up my considerable ignorance!

I especially appreciated your experience on the spread. In a reply to Dave, I asked about the details of the combo loan, I'll certainly use your insights to guide me. As I said (I think), I intend to use a mortgage broker, but want to come to that relationship as informed as possible. Now I know to look for a spread ranging from .75 (fantasy) to 1.5.

Still in the "looking for advice mode", I'd say that we intend to hold this next house for at least 11 years (youngest off to college). As for interest rate risk tolerance, I'd think that deference to the experts ought to be my guide. Assuming that I go with an ARM in part or whole (if using a combo loan), I think I want to give myself enough of a window for rates to fluctuate so that I can watch them go back up (the current direction) and then lock in on a fixed rate once they come back down...right?

Thanks again.--Jake
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (31) | Ignore Thread Prev | Next

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
Post of the Day:
Macro Economics

Intel's Broadwell Potential
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement