All Forum Posts by: Eric Gutierrez

Here is a breakdown of the fees I got quoted
Admin Fee 995
Appraisal Fee 420
Credit Report 50
1104 Lender's title Ins 400
Settlement/ Closing Fee 795
Recording Charges Mortgage 92
City/County Tax/ Stamps Mortgage 350.4
Conservation Fee 5

Any input. Rate quoted was 4.00 APR 4.105

It will be conventional. Reason I was asking is my parents and a buddy of mine refinanced their primary residences for 1500-2k.

Is there a typical cost to refinance an investment mortgage? Would be refinancing a property that I currently owe 146k on and is worth around 200k so it will be 20%+ equity 30 year note.

Thanks

I don't think there would be enough of a savings in your monthly cashflow to justify it in my mind (longer payoff period/ getting a lender that would do it on an investment property).

Assuming you pay 4% interest on all three 15, 30, 40 year notes and the loan amount is 100k. Your payments would be roughly $740, $477, $418. You would have an extra $59 in cash flow by extending your mortgage for 10 years. I'd imagine in the real world you would have a higher rate on the 40 year note that would eat up most if not all of that $59.

I purchased a duplex when I was fairly fresh out of school using an FHA loan. You can purchase a 1-4 unit property (you are supposed to live in it for at-least a year)

Next time check out an inline bath fan. I have personally used a couple Soler and Palau TD-100X inline fans rated at 100/135 cfm (2 speeds). Basically you mount the fan in the attic and run your insulated flexible ductwork to it and another section of the insulated ductwork up and out through the roof. This makes it so that the actual fan is 5-10 ft away from the bathroom. You are actually supposed to make it so its not a straight shot with the flexible ductwork because it helps with the noise. I just installed one in my newest property (I'm currently living there while fixing it up) and I wired it so that whenever the light is on the fan is running. Unless you know that it is on you would never even notice it.

Sorry bit off topic but does anyone have any links or suggestions to read up on the FHA 3-2-1. When I search it seems like it wants to pull up 321 vs three two one.
Thanks

A few other things to keep in mind.

1) What are you doing for a back splash? If you want a 4" matching back splash add another 5 square feet of granite probably so roughly $160

2) My experience has typically been they all charge/ try to charge a sink cutout fee around $180 for an undermount sink

3) Usually a few free edges, but there is a charge per linear ft for the fancier edges

4) Tear out/disposal fee of old counters if you dont tear them out yourself (super easy to do)

Anyone have a good reccomendation on a good granite fabricator, wholesale yard, or company in the twincities area? Any reccomendations would be helpful.

Anyone have any good recommendations on someone to install a bathroom fan? Currently there is no fan installed. Would be fine with fan wired so it runs whenever bathroom light is on. Located in Minneapolis MN.

Thanks