Quote:
Originally Posted by GregWeld
I hear ya Mike!
We just bought this condo in Sun Valley --- and against my better judgement and the way I "normally" do things -- we'll take a mortgage on it. The cost of money is too cheap not to. I'm using Schwab "influence" via their loan offering and getting a pretty sweet rate.
Just a little "funny". I like funnies.... This guy calls and asks me "how much do you want to finance"? I said -- I don't know - what are my options? He says how much do you want to put down? I said - I don't know... I'll put down whatever I have to until I'm happy with the rate etc I guess... This raised another question. What happens if it doesn't appraise for the sales price? I said - well - then I guess I'll just have to throw more money at it until the numbers work.
What I ended up with is a "conventional" mortgage - I think they call it - No --- wait --- it's called "conforming". We settled on that amount and whatever money I need to bring to close the party is what I'll bring.
My take on the whole process.... super easy.... WHY? Because I have lots of cash! If I didn't - we'd have had to have a whole different discussion - and I'd be sitting on pins and needles wondering what the end result would be. Now -- I'm just telling him "you put in this much - and I'll just bring all the rest!" 
By the way -- Gwen's credit score is way higher than mine! We've been married for 33 years this month! Go figure that one out! I pay all the bills. Why should hers be higher than mine by like 50 points!?!? Both are quite high -- but I did get a good laugh out of that. Like her credit quality is any DIFFERENT than mine! Geez --- we're hooked at the hip! |
Cause you wife had a job, and a steady stream of income. it adds to the score.