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Re: Why Chat Please Respond


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Posted by scott (65.25.98.67) on October 21, 2002 at 17:23:33:

In Reply to: Why Chat Please Respond posted by Wondering on October 21, 2002 at 13:28:04:

Ok I just bought a house so maybe I can help. I went with countrywide mortgage and they were great. your middle score of 660 gets you an 80/20 loan. That is- you have 2 mortgages one for 80% and one for 20%. My 80 is at 6.62 and my 20 is like 8.5 BUT this way you skip out on mortgage insurance which more than makes up for the difference. Also, that 20% is a line of credit you can keep open for 25 years and when it is paid you can use it whenever you want(they give you checks). I had a paid charged off cc from 3 years ago and they did not care. As long as everything is paid and your score is good then the loan is yours. Good luck in your choice. BTW, if you have children then sign up at upromise.com first. They have a link their for some mortgage and real estate companies and you get cash back.


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