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     Esscuseme Kurra Bewarse Username: Esscuseme Post Number: 1246 Registered: 03-2005 Posted From: 104.183.243.230 Rating: N/A |
Caps are important to note. For some idea watch this video https://www.youtube.com/watch?v=4Us6TjerX7s Also, it's not mandatory to refinance after 5 years. After 5 years interest rate will change every year with in your loan cap rates. You can decide at that point of time whether to refinance or continue. Home looks good and at that price point in bay area, I am sure there will be good interest from buyers. Usually by April/May bay area market heats up for summer and school year. What I've heard this year bay area market started showing signs of heat already in March. So, if all aligns and you like the property, you might better off locking in asap. One thing though $500 HOA is steep. Did you find out how has it been over the YoY increase in HOA fees. that should give an idea what you should expect for next five years. FYI, HOA & PMI are not tax deductible. I am sure you must be knowing but just in case, If you have realtor representing you, you can ask up to 1.5% money back towards your closing cost. If you are going with seller agent you can push upto 2 to 2.5% not a red flag but the seller seems to be selling within 2 years, you might want to find out the reason why he is selling quick as he there is not a whole lot $$$ appreciation for him after realtor fees etc.} |