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    #16
    Originally posted by TeamAmerica View Post
    Rate sounds reasonable. Closing costs sound high. What area are you in?
    League City, just south of Houston.

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      #17
      Originally posted by Charles View Post
      Have you considered a Heloc?
      Yes, the interest rate is ok for the first 5-12 months then it varies.

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        #18
        So the money will be used to buy a couple (at least 2 rental) properties with that will rent for 1300 to 1400 each. I have several properties and just cannot compete with cash investors. I have lost a few deals that have sold for about 80k and then flipped for 150k within several months.
        Last edited by catman; 12-05-2017, 03:09 PM.

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          #19
          he might be buying bitcoin, waiting for it to go up a bit, then pay off his entire mortgage

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            #20
            Just to varify, 15 year FIXED rate at 3.65%?

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              #21
              Originally posted by quackadikt View Post
              Stay away from HELOCS. If you've got the equity in your home to do it, a cash-out refi is a much better deal than a HELOC.

              Those closing costs don't sound bad to me...I'm a mortgage loan officer and I've got several refis in the works right now. They sound pretty reasonable.
              Thanks, that's exactly what I needed, to make sure the numbers were in line.

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                #22
                Originally posted by topshot View Post
                he might be buying bitcoin, waiting for it to go up a bit, then pay off his entire mortgage
                Good one , wait but no I waited too long
                I'm sure 6 months down down the road I would have said "shoulda bought bitcoin instead of investment properties".

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                  #23
                  Originally posted by BrianL View Post
                  Just to varify, 15 year FIXED rate at 3.65%?
                  Correct Sir!

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                    #24
                    Average closing cost in US is between 3-5k so your in the middle there. If your over 720 credit you are taking a high rate for a 15 year note. If not then it certainly isn’t a bad rate. In TX you can only do an a6 cash out loan.... at least until January then I believe a6 is going away. This will give you a few more options, especially if your a disabled vet. Pm me if you need some questions answered. I practice mortgage here in Texas as well as 20 other states.

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                      #25
                      I too am a mortgage lender and those rates and fees seem in line with what we're saying on our end as well.

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                        #26
                        A6 is not going away just being amended.

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                          #27
                          What’s an a6?

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                            #28
                            A6 is a cash out refi. The A6 refers to where it is in the Texas constitution.

                            Been in the business for almost 30 years.

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                              #29
                              Are holding properties or rehabbing/flipping. If flipping a helix can work great for that.

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                                #30
                                Originally posted by quackadikt View Post
                                Stay away from HELOCS. If you've got the equity in your home to do it, a cash-out refi is a much better deal than a HELOC.

                                Those closing costs don't sound bad to me...I'm a mortgage loan officer and I've got several refis in the works right now. They sound pretty reasonable.
                                Why is a cash out better than heloc?

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