KHOV Mortgage?

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Re: KHOV Mortgage?

Post by nagendra377 on Tue Jul 18, 2017 3:07 pm

Hello Harish, yes they are offering basement worth 15k but if you want to keep it unfinished that 15k can be used towards selected upgrades.
We were asked to submit form 4506 few weeks ago and we did, but never heard back as of now.

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Re: KHOV Mortgage?

Post by Satishkkumar on Tue Jul 18, 2017 7:54 pm

Initially I thought that going with a basement is a good option. But I felt that we could better basement with $15K as they are giving very basic finishing. That's just my opinion.

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Re: KHOV Mortgage?

Post by Satishkkumar on Tue Jul 18, 2017 8:15 pm

That's true too Harish. From the mortgage perspective, my friends have advised me to go with khov mortgage with an arm instead of 30 years fixed to avail the incentive and refi after few months with someone better. This option also has a con that what if the Internet rates go up and refi fee etc. it's a choice. I am going to go with 5 or 7 yr arm and later refi.

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Re: KHOV Mortgage?

Post by javeed on Sat Sep 16, 2017 6:52 pm

Hi,

Also please keep in mind that you would need to take a permit from the city to finish your basement later which would trigger revaluation of your property again and property tax revaluation, just a thought.

Regards,
Javeed

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