Crunk Times, My friend.....Crunk Times

[IamDeMan 5,000+ posts]

I think we continue to miss each other in discussion. I am thinking either I am not framing the question correctly, or there is more to it.

And like I said in that post. If you can afford the down payment and the closing costs there is no reason.
Its only if you cant afford the down payment but can afford closing costs like he said.

I am not apparently the only one who thinks you are missing the real question here.

 

[mokedaddy 5,000+ posts]

edit: I see

But the price of the loan is more contingent on selling price compared to appraised price. The larger I can expand that gap, the less down payment I would have to have. If I can expand it greater than 90%, no down payment is needed and I can use that money toward closing costs.

Yes of course. I was merely going by your statement about not being able to afford the large down payment.

If you can find a large gap in a house you want, afford the down payment and pay closing costs than by all means go for it.

 

[Chuck Norris 10+ year member]

I tried editing SM's avatar with that pic and I still get that error. //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[mokedaddy 5,000+ posts]

Consider this before I leave
The homes I am looking at would require aprox $12.5k as a down payment and aprox $3k in closing costs. I have $3k in savings.

If the seller has in their ad they are willing to pay $3k in closing costs, it seems to me I would be more prudent to have them lower the price in negotiations versus paying the closing costs. Although, if (for whatever reason) they balked at lowering the price, but where willing to pay the closing costs, I would just use the $3k as a down payment...and nothing would really change.

Yes of course except for the fact that you would still be short on your down payment assuming the gap isnt large enough.

Logically speaking if you can not afford all the cash upfront you do anything you can to lower upfront costs even if it means a higher mortgage. At least thats how I see it.

 

[IamDeMan 5,000+ posts]

I tried editing SM's avatar with that pic and I still get that error. //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

Maybe slammed needs to download it and re-encode. It may be too large?

I don't know but maybe he could figure it out.

 

[Chuck Norris 10+ year member]

maybe, or maybe the server needs a roundhouse kick to the motherboard?

 

[IamDeMan 5,000+ posts]

maybe, or maybe the server needs a roundhouse kick to the motherboard?

Always a good call. Or you could go to the core of the internet and just roundhouse Al Gore //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[Chuck Norris 10+ year member]

then we'd all be screwed without teh internetz

 

[IamDeMan 5,000+ posts]

then we'd all be screwed without teh internetz

Oh I always figured his *** was clogging it at the core not keeping it alive //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[IamDeMan 5,000+ posts]

I think you need to figure out where you will get the down before you worry about any of this other stuff.

.

It's in his nature to worry about stuff that doesn't even matter yet //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif

 

[mokedaddy 5,000+ posts]

I think you need to figure out where you will get the down before you worry about any of this other stuff.

That is kind of what I was thinking.

 

[IamDeMan 5,000+ posts]

That is kind of what I was thinking.

Then that's what you should have said. Instead we have to go through negotiating 101 and watch you totally miss his real question before getting to what really needed to be said to him //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif