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My Close Date

December 22, 2006 By 21 Comments

My close date for the Meritage is February 7th. If you have any advice on lenders or closing please let me know, this is my first real estate purchase in America.

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About Matt

Matt , Urbnlivn's publisher, has a love for lofts with industrial features and new construction condos that is only eclipsed by his passion for outdoor sports and urban living. Phrases such as “polished concrete” and “exposed brick” are music to his ears. You can also find Matt on Twitter or skiing.

  • Jeff

    Our mortgage lender was fantastic and helped us close super quick with absolutely no issues. I highly recommend him.

    His name is Daniel Brown. His work # is (206) 323-8890 x116 and his email is : danielBr@northwesthomemortgage.com

  • Jeff

    Our mortgage lender was fantastic and helped us close super quick with absolutely no issues. I highly recommend him.

    His name is Daniel Brown. His work # is (206) 323-8890 x116 and his email is : danielBr@northwesthomemortgage.com

  • Jeff

    Our mortgage lender was fantastic and helped us close super quick with absolutely no issues. I highly recommend him.

    His name is Daniel Brown. His work # is (206) 323-8890 x116 and his email is : danielBr@northwesthomemortgage.com

  • http://www.mikeindustries.com/blog/ Mike D.

    I recommend Tom Rees at Bainbridge Mortgage. He’s a good friend and I’ve used him on multiple mortgages. Has a great sense of not only where the lowest rates are but what type of loan is best for your situation. For instance, when I closed a few weeks ago I was able to get a 10/1 Interest Only ARM for about the same rate as a 5/1 Interest Only ARM. At 10 years until you adjust, it’s basically like a fixed mortgage but with much lower payments… especially since you’re in a condo that you probably won’t keep for more than 10 years.

  • http://www.mikeindustries.com/blog/ Mike D.

    I recommend Tom Rees at Bainbridge Mortgage. He’s a good friend and I’ve used him on multiple mortgages. Has a great sense of not only where the lowest rates are but what type of loan is best for your situation. For instance, when I closed a few weeks ago I was able to get a 10/1 Interest Only ARM for about the same rate as a 5/1 Interest Only ARM. At 10 years until you adjust, it’s basically like a fixed mortgage but with much lower payments… especially since you’re in a condo that you probably won’t keep for more than 10 years.

  • http://www.mikeindustries.com/blog/ Mike D.

    I recommend Tom Rees at Bainbridge Mortgage. He’s a good friend and I’ve used him on multiple mortgages. Has a great sense of not only where the lowest rates are but what type of loan is best for your situation. For instance, when I closed a few weeks ago I was able to get a 10/1 Interest Only ARM for about the same rate as a 5/1 Interest Only ARM. At 10 years until you adjust, it’s basically like a fixed mortgage but with much lower payments… especially since you’re in a condo that you probably won’t keep for more than 10 years.

  • http://twitter.com/mattgoyer mattgoyer

    Thanks! My plan is to be there only one to two years. I’m really looking for something bigger with a better design aesthetic.

  • http://twitter.com/mattgoyer mattgoyer

    Thanks! My plan is to be there only one to two years. I’m really looking for something bigger with a better design aesthetic.

  • http://blog.mattgoyer.com Matt

    Thanks! My plan is to be there only one to two years. I’m really looking for something bigger with a better design aesthetic.

  • Dan Ji

    Hi Matt,

    In that case, it probably makes a lot of sense to go with a no-close or low closing cost option. I’ve found that it can take about 2 years to see any of the benefits of a lower rate (in exchange for 2-3k in closing fees). There are ways to get the lenders to pay for some of those closing “fees” – which in a lot of cases are mostly profit.

    I have two personal friends, who are also in the process of doing my loans (as we speak, in fact). You might want to give them a call for a Good Faith estimate… which should give you an apples to apples comparison between various lenders.

    Wayne Su @ 206.275.0139; wayne.su@wellsfargo.com
    Wells Fargo Private Mortgage Banking

    Mike Kang @ 425.774.5738; mike_kang@countrywide.com
    CountryWide

    And as far as who can get you the ‘best’ deal, it all depends on the programs a broker’s company offers, as well as various other variables I’m sure I’m not well versed in. For example, Wayne got me a great deal on my 2200 condo loan, but Mike was able to get me a really great deal on my house refinance.

    Good luck!

  • Dan Ji

    Hi Matt,

    In that case, it probably makes a lot of sense to go with a no-close or low closing cost option. I’ve found that it can take about 2 years to see any of the benefits of a lower rate (in exchange for 2-3k in closing fees). There are ways to get the lenders to pay for some of those closing “fees” – which in a lot of cases are mostly profit.

    I have two personal friends, who are also in the process of doing my loans (as we speak, in fact). You might want to give them a call for a Good Faith estimate… which should give you an apples to apples comparison between various lenders.

    Wayne Su @ 206.275.0139; wayne.su@wellsfargo.com
    Wells Fargo Private Mortgage Banking

    Mike Kang @ 425.774.5738; mike_kang@countrywide.com
    CountryWide

    And as far as who can get you the ‘best’ deal, it all depends on the programs a broker’s company offers, as well as various other variables I’m sure I’m not well versed in. For example, Wayne got me a great deal on my 2200 condo loan, but Mike was able to get me a really great deal on my house refinance.

    Good luck!

  • Dan Ji

    Hi Matt,

    In that case, it probably makes a lot of sense to go with a no-close or low closing cost option. I’ve found that it can take about 2 years to see any of the benefits of a lower rate (in exchange for 2-3k in closing fees). There are ways to get the lenders to pay for some of those closing “fees” – which in a lot of cases are mostly profit.

    I have two personal friends, who are also in the process of doing my loans (as we speak, in fact). You might want to give them a call for a Good Faith estimate… which should give you an apples to apples comparison between various lenders.

    Wayne Su @ 206.275.0139; wayne.su@wellsfargo.com
    Wells Fargo Private Mortgage Banking

    Mike Kang @ 425.774.5738; mike_kang@countrywide.com
    CountryWide

    And as far as who can get you the ‘best’ deal, it all depends on the programs a broker’s company offers, as well as various other variables I’m sure I’m not well versed in. For example, Wayne got me a great deal on my 2200 condo loan, but Mike was able to get me a really great deal on my house refinance.

    Good luck!

  • maxton usher III

    the on-site lenders are typically very competitive. If you’re really going to sell, go with a 3 year ARM, unless the 5 year is within an 1/8 of a point. If so, go with the 5 year.

  • maxton usher III

    the on-site lenders are typically very competitive. If you’re really going to sell, go with a 3 year ARM, unless the 5 year is within an 1/8 of a point. If so, go with the 5 year.

  • maxton usher III

    the on-site lenders are typically very competitive. If you’re really going to sell, go with a 3 year ARM, unless the 5 year is within an 1/8 of a point. If so, go with the 5 year.

  • Dan Ji

    Strangely enough, a 7/1 ARM actually ended up getting me the best rate.

  • Dan Ji

    Strangely enough, a 7/1 ARM actually ended up getting me the best rate.

  • Dan Ji

    Strangely enough, a 7/1 ARM actually ended up getting me the best rate.

  • http://www.mikeindustries.com/blog/ Mike D.

    Yep, pay as little as you can up front for any property you aren’t going to be in for long. Total closing costs on my 10/1 were next to nothing. I paid for it by taking a rate of 6.25% but who cares since that rate won’t be with me for very long. There was an article that just came out in the Times a day or two ago that calculated that paying points only makes sense in something like 1.5% of mortgages.

  • http://www.mikeindustries.com/blog/ Mike D.

    Yep, pay as little as you can up front for any property you aren’t going to be in for long. Total closing costs on my 10/1 were next to nothing. I paid for it by taking a rate of 6.25% but who cares since that rate won’t be with me for very long. There was an article that just came out in the Times a day or two ago that calculated that paying points only makes sense in something like 1.5% of mortgages.

  • http://www.mikeindustries.com/blog/ Mike D.

    Yep, pay as little as you can up front for any property you aren’t going to be in for long. Total closing costs on my 10/1 were next to nothing. I paid for it by taking a rate of 6.25% but who cares since that rate won’t be with me for very long. There was an article that just came out in the Times a day or two ago that calculated that paying points only makes sense in something like 1.5% of mortgages.