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Getting a new house !

Discussion in 'BBS Hangout' started by DaDakota, Jun 6, 2003.

  1. DaDakota

    DaDakota If you want to know, just ask!

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    Gang,

    We just began the closing process on a house out here in Austin in Circle C on the Park.

    If you have not refinanced your home, or are looking to buy, now is the time...I got a 30 year fixed mortgage rate at 4.875%.

    That is incredible....I financed 80% of the home to avoid the PMI...

    The house has 4 bedrooms, 3 1/2 baths 1 gameroom a 3 car detached garage and has a massive backyard that backs up to the greenbelt.

    It even has a sprinkler system....YES !!!

    We are also selling our current house in Austin as well, so if you are interested, reply here and I will give you a CC.net discount.

    The current house is 4 bedrooms 2 baths, and a 500+sq ft covered porch...it also has a sprinkler system...trust me that is important in Austin.

    I will post pictures of the new house after we finish putting tile in the masterbath and the formal dining area, and getting rid of the tiger print kitchen wall paper....hey it is not perfect, yet.

    WOOHOOO !!! Getting a house is fun, and in today's market really a good deal.

    DD
     
  2. codell

    codell Contributing Member

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    DD,

    You live anywhere near Pflugerville/NE Austin?
     
  3. MadMax

    MadMax Contributing Member

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    that's awesome! how exciting...congratulations!
     
  4. DaDakota

    DaDakota If you want to know, just ask!

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    I live in Oak hill, and the new house is also out here in Oak hill, although it is 5 minutes closer to the Salt Lick.

    :)

    DD
     
  5. codell

    codell Contributing Member

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    Nevermind then. My brother in law is going to be the manager at a new Lowes that is about to open up near Breaker and 35. I was going to offer to talk to him and see if i could give you a discount on any stuff you need.

    Thats the best thing about getting a new house. Multiple trips to Lowes. I swear, going to Lowes and getting gadgets and stuff is better than sex IMO.

    j/k ....well ...maybe not
     
  6. DaDakota

    DaDakota If you want to know, just ask!

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    I like Home Depot, it is closer.

    :)

    DD
     
  7. Surfguy

    Surfguy Contributing Member

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    Who did you get your mortgage through? That's an excellent rate and I'm beginning research on where I can get the best rate. Some places I have checked are more along the lines of 5.3% which is about the average out there. Congrats on your new house!

    Also, a way off-topic question for you Dadakota. I recently set up a Linksys 4 port router and the Zonealarm firewall software. However, I cannot stay connected to a BattleField 1942 game. I always connect but it's real laggy and then I get disconnected. I never had a problem playing before using a hub with no Zonealarm. Do I need to open up some ports? If so, which ones? I seem to remember you were having similar problems in the beginning on your server(which I'm not even running my own BF server).

    thanks, Surf
     
    #7 Surfguy, Jun 6, 2003
    Last edited: Jun 6, 2003
  8. VesceySux

    VesceySux Contributing Member

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    That's great, but does it have a "Hot Chicks" room? :)

    A little Kids In the Hall humor for ya...
     
  9. johnheath

    johnheath Member

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    Surfguy, don't pay more than 4.875 with 1 point origination, 0 point discount. I know what I am talking about.

    Go to a mortgage broker, not a bank. The broker has to disclose his income on the HUD 1 statement, including income derived from giving you a higher rate (yield spread premium, or YSP). A bank does not have to disclose YSP.

    The money made by a broker must be disclosed on page 2 of the HUD 1, in the column numbered 800 through 900. The YSP number is generally the last number hidden on the left hand side at the bottom of the 800s.

    http://homebuying.about.com/library/weekly/aa050201b.htm

    All money for the broker will be shown as "paid to XYZ Mortgage Company". All money to the lender he is selling the loan to will be shown as (for example) "paid to Countrywide Mortgage".

    Tell the broker that you know how to read a HUD 1, and you WILL NOT CLOSE if he charges junk fees or yield spread premium.

    Do this and you will potentially save tens of thousands of dollars over the life of the loan.
     
  10. Surfguy

    Surfguy Contributing Member

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    Thanks for the advice and the link.

    Question...have any of you done your mortgages online using Ditech or anyone else? I am wondering if it really matters if you do the loan process online or with a local lender? Isn't most of it just basically a series of phone calls in going through the loan process?

    If anyone has any recommendations or more advice, then I'm certainly game. I don't really have any referrals and am not sure where to start. Should I just start shopping around for low rates and low closing costs that fits my loan criteria the best from both local lenders and online lenders?

    Seems like these days pre-approval is just a day or two away and your a viable candidate for purchasing a home anytime thereafter. I just need to get out of the gate.

    Also, my understanding is if your in the market for a new home, then you might want to work with the home builders to secure a loan through them for extra deals or savings in addition to lower rates? Is that right?

    I'm on the bubble about new or used. I think used because there's more bang for the buck but, then again, new homes seem to be selling at discounted prices as well.

    What a great time to buy a home!
     
  11. red

    red Contributing Member

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    so DaDa are you very close to the circle c disc golf course...?
     
  12. Surfguy

    Surfguy Contributing Member

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    He's practically in the path of errant discs. Watch out for those hippee pot smoking disc golfers discarding their beer cans and taking leaks whereever they damn well please. :D

    He seems pretty damn close. I always loved that golf course.
     
  13. Deckard

    Deckard Blade Runner
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    Salt Lick! Yummy!
    (true, true... outstandingly yummy for those poor souls who've never been there and have that to look forward to someday in their deprived lives... go to Salt Lick. Just go and be happy.)

    Yes, DD is close to the CC disc course.
    Nice pool, isn't it? Hell, you can walk to it. Congrats on the house... that's probably the best part of the CC neighborhood. :)




    My only regret is all the damned Republicans! :p

    (Surfguy, quit talkin' 'bout me, bro ;))
     
  14. Fatty FatBastard

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    So DaDa:

    Finally putting those gambling winnings to good use, eh?:D
     
  15. weakfromtoday

    weakfromtoday Contributing Member
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    i live in the oak hill area as well, i wonder if we've ever crossed paths.......

    congrats on the new house.
     
  16. Drewdog

    Drewdog Contributing Member

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    DaDa-

    Who's the builder of the new home?

    I might be able to find you a deal.
     
  17. DaDakota

    DaDakota If you want to know, just ask!

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    Drew,

    New is relative it is an existing house and was built by NewMark.

    We decided against building again, as we wanted to be in an established neighborhood with big lots and close to the elementary school.

    Circle C on the park has larger lots then most and it is right across the street from the pool and school...very nice for our kids, not to mention our house backs up to the greenbelt...so we will never have to look at neighbors behind us.

    DD
     
  18. Drewdog

    Drewdog Contributing Member

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    Feel safe my friend. Newmark is one of the best builders in town. I know a few people out in Circle C. Im pretty sure they are still building out there.
     
  19. Dubious

    Dubious Contributing Member

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    DDK,
    My friend has a house in Circle C that backs up to a greenbelt . It has been vacant for over a year due to Black Mold. It's on Aden street or somthing like that.
    You can thank his troubles for holding down the price of the neighborhood.

    Jeep
     

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