All Forum Posts by: Chris Lo

I just don;t see the demand. How many people do you know that have EV cars? Even with the younger generation, it's not that large. If it makes you feel better, though, go for it....

I would do it for $500 but $1500 is pushing quite a lot

0 Votes

Warren, Michigan

Quote from @Bill B.:

Add the outlet it’s universal and cheaper.

I assume the $1,500 was charger and labor? If so it seems high.

I am literally having one done this week. I went with the “expensive guy” as I saw him do the neighbor’s last week. I provide the charger and he charges me $550 because my breaker box is full, otherwise it would have been $450.

1500$ was for installing an outlet. In this company was charging 1500 and another one charging 1300. It seems like this is about the range of the price. I have no idea why since I’m only trying to install the outlet next to the house.
my main breaker only has hundred amps, but since the AC has a separate meter one guy was saying it’s OK to hook it up to the main panel though

0 Votes

Warren, Michigan

I may be renting out my house sometime next year.

Ive been thinking if i should hardwire a tesla universal wall connector or just install an outlet so the tenant can bring their own charger. What do you think?

Itll cost about 1500$ to install. Im curious how much this would attract finding a tenant. or how much rent i can raise by installing it

3 Votes

Warren, Michigan

Quote from @Nick Velez:

@Chris Lo

7.5% is fair but definitely not the lowest you will find. Rates are constantly fluctuating but I have been seeing high 6's for higher FICO borrower's as of lately. I agree with Caleb , steer clear of large online lenders, that are notorious for advertising extremely low rates just to get you in the door.

I see you’re in Florida are you seeing that number in Florida or Michigan as well?

0 Votes

Quote from @Erik Estrada:

Quote from @Chris Lo:

I did a hard credit pull with a lender (michigan) for the first time.

With close to 100,000$ income, ~740 credit score, 10% down payment, First home buying, purchase price around 350,000$, and pre-approved for 400,000$.
It came out to 7.5% no points.
is this a good interest rate?

With the ease of interest rate, i thought it would be somewhere around 7%.

Hey Chris,

Have you tried applying at a local bank you have a relationship with?

I havent. Do they let you know the interest rate based on the numbers i give them or do they hard credit pull?

0 Votes

I did a hard credit pull with a lender (michigan) for the first time.

With the ease of interest rate, i thought it would be somewhere around 7%.

1 Vote

Quote from @Joe Norman:

Asbestos siding is common on houses in Baltimore built in those years and is a non-issue (at least here). New siding shingles can be purchased that are made of non-asbestos material to replace any original ones that are damaged and they are easy to paint - we do that for cosmetic purposes but we don't replace or encapsulate the entire house.

That said, I would talk to your Realtor to determine if there are any Michigan-specific rules/regs regarding asbestos siding.

What kind of rules/regs are we talking about?

0 Votes

In Michigan, the location i'm looking at has mostly houses from 1920s to 1950s for my price range, at least so far in current market.

My realtor has mentioned about the asbesto Sidings which i didn't know about before.

What are your thoughts on renting out a SFH with Asbesto siding?

0 Votes

Quote from @Harjeet Bhatti:

@Chris LO You can explore another program FHLBC opening funds on January 16, 2024. The funds for this year is exhausted already.

Even though im in michigan, FHLBC option?

I dont think i meet the requirement since my income is higher than 80% of median income.

How do I go about finding grants? From googling I haven’t found too much. One of the realtors I met she had told me that her family member owns a mortgage company and the company is coming up with a new down payment assistant program. Is this some kind of a scam?

0 Votes

Quote from @Michael Smythe:

Check out MSHDA first time buyer programs.

Thank you for your reply.

Here's a little background. I have an excellent credit score. No debt. Residing in Michigan. The areas i'm interested in is NON-targeted area. Interested in a house price ranging 230,000-300,000$.

I make just below 135% of median income in the area i'm interested in. (For Chenoa fund).

Currently i'm aware of MI 10K DPA, MI DPA and Chenoa Fund.

But the houses i'm interested are above "$224,500" so i wont be qualified for MI Home Loan and MI Home Loan Flex programs.

For MCC, the areas i'm interested are non-targeted. One of the areas is Royal oak, but Royal oak township is the targeted area.

0 Votes

All Forum Posts by: Chris Lo

Chris Lo has started 10 posts and replied 32 times.

Post: Ev charger on a SFH rental unit

Post: Ev charger on a SFH rental unit

Post: Ev charger on a SFH rental unit

Post: is my rate good?

Post: is my rate good?

Post: is my rate good?

Post: Buying a house with Asbesto Siding in Michigan

Post: Buying a house with Asbesto Siding in Michigan

Post: Michigan first time home buyer

Post: Michigan first time home buyer