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I totally agree - don't get caught up with what a "builder's lender" (aka just a broker) tells you. I've been looking at buying a home and have gone round and round with these brokers... and to be honest, they cannot even offer competative rates. (Although they are nice people - just in case...

I'm not sure that you should be looking out for the bank on this one. If a bank is willing to make a bad loan, that's the banks problem. As for the "intent" of the individuals, good luck proving exactly what their intent is... as the OC Sheriff explained, unless there was a pin-hole in that...

So, is the best advice to take a short term ARM? Or to take the 10/1 or 30-year now? It seems that one thing is for sure, if rates remain in a tight range for the next two years, the housing bust might take longer to work out.

In any event, you don't have to be a foreigner to save your $$$ in a foreign currency... if you really believe that the dollar will continue to tank...

All I can say is wow. Where do all of the 100% down people come from and how do I get signed up for their approach to finances? Even all of the homes in the "green zone" seem to be using between 20 and 50% !?! Thanks for all of the work that it must have taken to compile all of that! On...

seriously, do a google search for the historical date... this link may be a good place to start. It isn't really all that volatile... the pay a high rate and refinance later mantra is easier said than done... although it is possible...you may find yourself waiting for years...

Completely agree. Yes the resets will happen.. they just won't be painful...(as the indicies stand now).. and accordingly, the tsunami of mortgage destruction and the corresponding reduction in housing costs will be less pronounced... or at least take longer to be realized. If inflation heats...

IMO, giving serious thought to where rates will be in 3 years or more is really just an exercise in hearing yourself talk. There are simply too many variables to make an accurate guess (other than to say, rates will be some degree higher). Search around on google and you can find the historic...

The 40 year is a horrible idea. It is just another way to convince individuals that they can afford more than they really can. Furthermore, you end up paying about a .5-.75% premium for the 40 year loan.... IMO.

I'm just glad that I didn't get labeled as a troll!

It has me thinking about waiting a little bit till the next phase or two... the lots are slightly bigger... I don't need a big yard... just a nice yard.

IPO - that is about a 16K "JUMP" on the homesite 84 property... previously the subject of "targeted" incentives including (1) a lennar subsidized 5.75 30 year fixed mortgage and (2) upgraded wood floors and carpet throughout. Looks like they have decided to charge for the floors after all...

At first I thought the post was going to tell me how to make money from home... like those late night commercials...