u/brovaltine

Found a home that I plan on staying in for the foreseeable future. Rate is 6.25% I can pay $6,000 to buy down to 6% to save $100 per month. I would be winning on the breakeven in terms of staying in the house, but what are your guys thoughts on rate dropping before 5 years to refinance. Is it worth it to just keep the $6000 and put it into some upgrades to the house. Either way I’d be putting that money into the house? Mortgage company I’m using told me there will be no cost to refinance with them. Let me know if any other info would be helpful.

Curious to hear what your significant other or spouse eats and what warning labels you feel comfortable with them eating or having in the house such as made in a facility, made on equipment, may contain. Severe anaphylactic allergy here.

Some background, house I’m under contract with initially had sellers cancel first offer because the buyers dragged out attorney review. Then another offer was accepted, but the next day I was told they backed out and my offer is accepted. Sellers have not been living in the house for over a month now. I feel like I’m getting a good deal and my gut was saying to not ask for concessions as the inspector let me know the house is in overall good condition. Top of sewer line leaving house has a hairline crack, stoop sinking but not attached to foundation, overall he told me he wouldn’t worry about it. I was encouraged by my attorney to ask for concessions. I have made it clear that I don’t want to ask for concessions if there’s a possibility that they kill the deal. He said no that is not possible. Lawyer needs to send them the inspection report by today and it hasn’t happened, it’s 10pm. I am so freaking anxious that they could cancel the deal, in the contract it says only I can walk if they don’t offer concessions, but can they say I’m in breach of contract by not sending the documents in time? No date is of the essence in the contract, I’m in NJ. Sorry if this reads horribly I’m a wreck right now.

Hi all, need advice if it’s wise to lock in my rate before fed rate announcement. We are only in attorney review, initial fees $1500, all refundable before going under contract, we will be closing as quickly as possible. Northern NJ 6.25% no escrow (no rate change with or without for now) 1 point at 6,000$ brings me to 6%. Float down possible if rate drops by .25% and holds for at least a week. Let me know if any other information is needed. Thanks in advance.