r/HomeLoans

I think homebuyers should be careful with common phrase uttered by realtors and lenders alike...

It sounds clever/catchy but it can easily become a sales pitch for buying a house today with the hope that you’ll refinance later down the road.

The problem is, you can sell a house. You can’t change the interest rate market into cooperating with you. None of us can.

And refinancing later is not guaranteed. Rates might not fall. You might not qualify. Your home value could change. Or the refinance simply might not save you enough money to make sense.

Buy the house because you can comfortably afford the house and payment today.

If rates fall later and refinancing makes sense, great! If not.....?

But don't buy a house you can barely afford today because someone tells you to “date the rate.”

A refinance is a possibility, not a plan.

The one house I've had for four years has sold our mortgage 4 times. Literally. We are on the fourth company.

My other mortgage which I've had for 17 years is through Wells Fargo and for the first time they sold my mortgage to some shit company. For me to get any info, I have to sign up and agree to sell my email and phone "for marketing purposes" (to get out of this agreement I have to call some number)

Screw these scumbags. I'm so sick of this.

(I'm good with the downvotes)

My fiancée and I are interested in these new construction townhomes. The area is great, we’re on a VIP list for supposed “early bird pricing” and “pick of lot”.

Their offer is 4.99% on a 5/1 ARM. 1% max adjustment per year, 9.99% max

Other option is a non-new build. One program we’re looking into from a has a no-PMI, 0% down option from a credit union. Sounds interesting.

Just feeling fucked as a FTHB.