On Sat, 8 Apr 2017 12:13:26 -0500, Leon lcb11211@swbelldotnet wrote:

On 4/8/2017 10:58 AM, wrote:
On Sat, 8 Apr 2017 10:37:29 -0500, Leon lcb11211@swbelldotnet wrote:

On 4/8/2017 10:26 AM, wrote:
On Sat, 8 Apr 2017 09:55:00 -0500, Leon lcb11211@swbelldotnet wrote:

On 4/7/2017 9:47 PM, wrote:
On Fri, 7 Apr 2017 11:29:50 -0500, Leon lcb11211@swbelldotnet wrote:

On 4/6/2017 7:43 PM, wrote:
On Thu, 6 Apr 2017 15:41:44 -0500, Leon lcb11211@swbelldotnet wrote:

On 4/6/2017 2:12 PM, wrote:

Lots of rich folks (and businesses) have mortgages that they could pay off
this afternoon if they wanted to.

Oh, hell, I could have done that some time back but why bother?


To keep from having to make a money transfer or write another check.
Even automatic transfers can screw up. And if you are paying interest
at all it is costing you money to keep the mortgage.

Sure, my payment to the power company can screw up, too. So what? The
cost of money is so low, it doesn't matter.

Our builder knocked an additional $5K off the price of our house for
paying cash plus no extra expense for mortgage insurance, or mandatory
flood insurance.

Why did your builder care?

The builder does not have to pay extra points for loan qualification.

Why would the builder pay points on your loan?

Ok, this is getting kind'a silly. Often a builder will pay points to
lower the mortgage or to simply help with the expenses of the mortgage
approval, this happened with our first home. Builders ALWAYS pay points
to close the deal. If your builder did not you were had.

That's absurd. I shop mortgages for myself. Why would I take their
financing?

I don't know what you would do or what you might be thinking. And this
would work with whom ever you chose to use for financing. There are
costs involved with obtaining a home loan other than simply paying back
the P&I.

Huh? None of the costs have anything to do with the builder (or
anyone else you may buy a house from). If the builder is buying down
the interest to make his house look more attractive, well, just do it
yourself. The point is that the builder is getting a wad of cash. He
doesn't care if it's coming from you or a bank. Any "discounts" for
cash are just come-ons.

Anyway here is how our sale went. After negotiating and agreeing to the
the price to build the home the salesman asked if we already had an
approved loan. I said that we intended to pay cash. Well Mr. Leon you
get an extra $5K off of your negotiated price.

If you need further details I suggest you visit DRHorton.com

So the analogy is to take dealer financing on cars? In almost all
cases, that's silly.


I said nothing about taking anyone's financing. The builder wanted to
know if I was preapproved. The discount he gave us was for not having
to participate, to compete with the builder next door, with buying down
percentage points, loan origination fees, appraisals for the loan, extra
surveys for the loan, etc.

So he didn't give you anything (for purchasing with cash). He would
have given the same deal to anyone who walked in with financing.



What I said above. We got an additional $5K discount after the
negotiated price for paying cash.

trying not to flog a deceased equine further ...but you would have
gotten exactly the same deal if you had &megabank write the check.
It's all cash to the contractor.