UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: RBHouston Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127680  
Subject: Which loan for my situation? Date: 11/27/2001 4:22 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hello all... I've been lurking and learning for a while and now would like some suggestions on my first home purchase. Here is a quick rundown on me:

Salary 58,000
Year-end bonus 40-50k (Due next month)
Monthly debt 850
FICO average 645 (But been working on all 3 for several months so it should be going up)
My salary should increase 2-3k per year and bonuses will reach 60-80k.
Will probably stay in house for less than 5 years.

I would like to get the most house for my money but want to keep payments below 1300.00 month. Would also like to make the minimum down payment so I can invest the other. It would also be nice if I did not have to impound for taxes and insurance (if that is possible). I have reduced my learning curve over the past few months but would like some suggestions on which loan you be best for me.

Thanks in advance,
RB

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev Thread | Prev | Next | Next Thread

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.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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