OT: General OT Thread #38: Pavol Demitra Memorial Playoff Push Edition

[Engebretson]

Congratz. What are the APR rates nowadays?

Thanks! We went with a conventional mortgage which is a little bit more manageable in the long run than a FHA. Rates are around 4% right now.

 

[Minnewildsota]

Thanks! We went with a conventional mortgage which is a little bit more manageable in the long run than a FHA. Rates are around 4% right now.

How is it more manageable than an FHA loan? /nosarcasm

3 years ago I went with an FHA loan, mainly because I didn't have 15-25% to put down on a house. The rates were really good. I believe I'm locked at a 3.36% rate. Not only that, I was told that you can "sell" your mortgage with the house, making it more desirable.

 

[gphr513]

Bought a house this weekend. Pretty stoked.

Oh, and congrats to BigT on the wedding!

Nice!

Gotta be quite a feeling walking into "your" house for the first time. The first thing I'll probably think is "What the hell do I do when something breaks?"

 

[Engebretson]

How is it more manageable than an FHA loan? /nosarcasm

3 years ago I went with an FHA loan, mainly because I didn't have 15-25% to put down on a house. The rates were really good. I believe I'm locked at a 3.36% rate. Not only that, I was told that you can "sell" your mortgage with the house, making it more desirable.

For us, it ended up being better to go conventional vs FHA. We weren't able to put down 20% either, but it would have cost us more in the long run to go with a FHA loan instead of a conventional because of the monthly premiums for Private Mortgage Insurance.

 

[Minnewildsota]

For us, it ended up being better to go conventional vs FHA. We weren't able to put down 20% either, but it would have cost us more in the long run to go with a FHA loan instead of a conventional because of the monthly premiums for Private Mortgage Insurance.

Well, Mortgage insurance drops off after a year or two if I remember correctly.

 

[StealthClobber]

Yup, but it's the electrical issues that seem to plague German cars. At least in the past. I worked in the car biz from 2003 to 2012 and always seemed to encounter Audis, BMWs, Volkswagens, etc. with electrical issues at a way higher rate compared to other vehicles. Expensive maintenance.

Yeah now that you mention it, both the Audis I've had have had tail light issues that were the result of like melted connectors or something. Both of them were on the driver's side too.

 

[this providence]

I'm considering getting a new S4, I've never owned a german car, but they have a very expensive rep when it comes to maintenance costs... Is that rep valid, or a myth? How would you rate the maintenance costs?

I had a 2004 S4, then went to an 08 S5. Never had any sort of issue with either. Took both to about 80,000 with nothing more than bringing them in to cover warranty stuff. The gal has the A3 and came from two prior Ford Fusions and the amount of little things that piled up along the way to nickel and dime you for fixes were nothing compared to slight overage you get charged for maintenance on my Audis compared to the domestics.

Frankly, we won't be buying domestic anytime soon and Audi makes a hell of a car. If you plan to run the thing until it's on it's last legs or potentially buy used, I'd be more concerned about costs than buying new. Frankly, I'd be weary about buying any 'S' model used anyway. Because there's only one way to drive them in my opinion, and that's to slam them in and out of the bends.

 

[Engebretson]

Well, Mortgage insurance drops off after a year or two if I remember correctly.

Sounds about right. It's also not a set in stone that FHA is better than Conventional or vice versa. It's really dependent on your individual financial and credit situation. Like I said, we were able to put a little bit more down which made the conventional loan a bit more attractive.

 

[Uberdachen]

Well, Mortgage insurance drops off after a year or two if I remember correctly.

It drops off when you hit 20% equity. Might be a year or two, might be ten, depending on your down payment and stuff.

 

[Generic User]

Bought a house this weekend. Pretty stoked.


Oh, and congrats to BigT on the wedding!

Congrats on the house. That's exciting. Which area did you go with?

Forgot to congratulate BigT as well. Congrats!

It drops off when you hit 20% equity. Might be a year or two, might be ten, depending on your down payment and stuff.

Yup. This was what I learned when house hunting a couple years ago. Would prefer conventional if I had the resources to choose between the two, but some people just have to go with FHA.

 

[Engebretson]

Congrats on the house. That's exciting. Which area did you go with?

Thanks! We found out yesterday morning and pretty much celebrated by going out and pricing out what we want to change about the place right away. It was mostly just for fun because we're just relieved to actually HAVE a place to plan for.

We're staying in Apple Valley. The kiddo starts Kindergarten next fall and the schools are just too good down here.

 

[TaLoN]

I had a 2004 S4, then went to an 08 S5. Never had any sort of issue with either. Took both to about 80,000 with nothing more than bringing them in to cover warranty stuff. The gal has the A3 and came from two prior Ford Fusions and the amount of little things that piled up along the way to nickel and dime you for fixes were nothing compared to slight overage you get charged for maintenance on my Audis compared to the domestics.

Frankly, we won't be buying domestic anytime soon and Audi makes a hell of a car. If you plan to run the thing until it's on it's last legs or potentially buy used, I'd be more concerned about costs than buying new. Frankly, I'd be weary about buying any 'S' model used anyway. Because there's only one way to drive them in my opinion, and that's to slam them in and out of the bends.

This car isn't replacing a domestic car, and for a daily driver, nothing domestic fits what I'm looking for.

The only domestic car I've owned in the past decade is my '12 Shelby GT500 convertible, this would be replacing my '04 Hyundai Tiburon as my all year, any weather driver. The Shelby is specifically a fair weather car.

The Tiburon just recently went over 140k miles, the car has been great with little to no issues, but I don't expect that will last too much longer, which is why I'm starting to car shop again. The quatro all wheel drive, the 6 speed manual options (all I've owned since '97 is manual transmission cars) are very enticing, like the sleeper look of the S4 both inside and out. I just know so little about German cars in general though that I want to learn more before deciding.

 

[tomgilbertfan]

Way behind the curve here, but finally watching BBC's Luther. On the last episode of season 1, what a great show.

 

[Dee Oh Cee]

Really good. It's pretty dark...not a whole lot of cheerful moments that's for sure. Idris Elba is a great actor though. I buzzed through all of the epsisodes that are on Netflix a couple weeks ago.

Now just watched Broadchurch. They do tv pretty well over there that's for sure.

 

[Uberdachen]

Happy Valley is also pretty good. Starts out as British Fargo and then gets pretty intense.

 

[00xtremeninja]

Well, Mortgage insurance drops off after a year or two if I remember correctly.

for PMI on FHA loans, typically you need to have a certain percentage of equity in the home OR your lender has predetermined lengths of how long you have to pay PMI for.

We bought a foreclosed home on a FHA loan a few years ago, and since the housing market has increased and people selling their homes around us, plus our own additions have made our house jump in value, so our equity is there. However, our lender says we need to be there and paying on it for 3 or 4 years, can't remember, but it's up in December.

I get offers all the time from other places about dropping our PMI and stuff, but we'd have to go through the whole loan process again and I don't want to lose our sweet interest rate

 

[Hall of Faber]

I put 0% down and got a 3.375 APR through the USDA loan thingy. I have like a $800 a year fee for that loan though.

 

[TaLoN]

I put 0% down and got a 3.375 APR through the USDA loan thingy. I have like a $800 a year fee for that loan though.

Getting a loan on a cow to butcher? USDA Choice cuts!

 

[Hall of Faber]

Getting a loan on a cow to butcher? USDA Choice cuts!

Funny you say that, I'm a butcher! Yea the loan is to grow the less populated areas. Like your town limits can only have like 10k living in it. (Here that is low) it's different in every county.

 

[Jacques The Mayor]

Anyone ever been up to the U.S. Hockey hall of fame in Eveleth?

 

[TaLoN]

Yes, why?

 

[SupremeNachos]

Correct, however in my experiences with German cars, it seems like there are a lot less mechanical issues that occur with the vehicles. Unless of course you get a lemon.

I owned a BMW 335i and once my 3yr warranty ran out all sorts of problems started to show up. I've heard that's the case with Mercedes as well.

 

[gphr513]

Anyone ever been up to the U.S. Hockey hall of fame in Eveleth?

I never have, but I've got a wedding up in Ely in October, so I'm thinking about making a stop in the way there.

 

[Jacques The Mayor]

Yes, why?

Haa I gotta go pick a chameleon up for my girlfriend on Monday or Tuesday and I think I'm gonna have to take a quick trip over to Eveleth.

 

[Jesus comma Brodin]

Haa I gotta go pick a chameleon up for my girlfriend on Monday or Tuesday and I think I'm gonna have to take a quick trip over to Eveleth.

That is hilarious.


And yes, been there a bunch of times. I enjoyed it when I was in my younger years and bet I would enjoy it even more now.