Sharing for a good buddy of mine. He's selling his 2010 sportster 2010 that has only 262 miles. I've seen him ride it around, it's quite pristine. Let me know if you're interested and I can make the connection!
So, APR is a borrowing term that stands for "annual percentage rate" of a loan.
When asking about its definition, would "what is APR?" still be grammatically correct? (I know "what is an APR" makes sense too)
So, APR is a borrowing term that stands for "annual percentage rate" of a loan.
When asking about its definition, would "what is APR?" still be grammatically correct? (I know "what is an APR" makes sense too)
Curious to get people's thoughts here. Wife and I are in very early stages of home searching and have come across a rare opportunity that a friend introduced us to. (It's their friend's house).
We spoke to one particular bank (Trustco) which is a portfolio lender bank, meaning they only take from their deposits and manage the life of the loans.
They seem to have a unique model in which if you put 10.5% down, they you can waive an escrow account and they also take care of the monthly PMI. We're interested in this because the closing costs in the area we're looking at are very high...like 25/30K. And waiving escrow would signficantly reduce that.
The example in question is:
House price 550K
Loan 492K
Rate: 5.99%
16K in annual property taxes
If we put 10.5% down, we can waive escrow and monthly principal and interest will be $2.9K, and we take care of taxes, etc. on our own.
If we didn't have as high closing costs (because of no escrow & no real estate agent, etc.), then we could afford to put that 10.5% down.
Hopefully this makes sense. Just want to do a gut check that we're not being taken for a ride. Thanks!
Curious to get people's thoughts here. Wife and I are in very early stages of home searching and have come across a rare opportunity that a friend introduced us to. (It's their friend's house).
We spoke to one particular bank (Trustco) which is a portfolio lender bank, meaning they only take from their deposits and manage the life of the loans.
They seem to have a unique model in which if you put 10.5% down, they you can waive an escrow account and they also take care of the monthly PMI. We're interested in this because the closing costs in the area we're looking at are very high...like 25/30K. And waiving escrow would signficantly reduce that.
The example in question is:
House price 550K
Loan 492K
Rate: 5.99%
16K in annual property taxes
If we put 10.5% down, we can waive escrow and monthly principal and interest will be $2.9K, and we take care of taxes, etc. on our own.
If we didn't have as high closing costs (because of no escrow & no real estate agent, etc.), then we could afford to put that 10.5% down.
Hopefully this makes sense. Just want to do a gut check that we're not being taken for a ride. Thanks!