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- Sunday's thoughts -
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Sunday, October 16, 2005
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Okay today was very fun indeed. Not really, but one must be optomistic. I finished up my 1st 8 week class assignments today and started on This class. I'm not sure if I'm even doing any of the assignments correctly, but I'm attempting it and that has to be good enough for right now. Currently, I'm buying a new home and I'm learning a lot about credit and numbers and how they contribute to my monthly payments. I'm deciding rather or not I want to buy down points because right now my payments and interest rate is higher than I want it to be. I found a home that was in my budget of under $100,000 in the Midwest City area. My offer was $95,000 which will put my mortgage payments at $600 a month. I would rather pay $450 to $550, but that's not going to happen unless I buy down some points. These are going to cost me $1000 per point. Well lets see it will probaly take me a good $5000 to get my payments down. Do I really want to do that considering I have a 5/25 plan. For those of you who don't know what I'm talking about, and believe me, I don't know what I'm talking about most of the time, this means that my interest rate is locked in for 5 years, and then it goes variable. So at that point I can either refinance, sell, or take the variable rate that can go as high as 12% depending on the economy. All these numbers just give me a headache thinking about it.
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1 Comments:
Thursday's thoughts
Well today is a better day. I scheduled the inspection on the house for this weekend. I will be getting the termite inspection done at the same time. I feel a little overwhelmed in the game already. This is not a good sign considering I'm know where near closing. My current home has a for sale sign up, so on top of everything else, I have to worry about showing that home to potential buyers. I'd much rather be able to pack than to leave the house in tip top shape for viewings. This totally puts a crimp in my plans for having everything packed up and ready to go once I close on my new house.
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