<p>^^how are you able to get such low rates on investment properties - typically around here they charge .5% more than owner occupied real estate.</p>
<p>I’ll look at TD Bank, but the problem I’m finding with other companies is as soon as I input “condo” as the investment, I get the response of, “We don’t finance investment condos.” Even if I’m only looking for 50% LTV. The best deal I’ve found so far for investment condos is PenFed’s 5/5 HELOC, for 4.75% for 5 years, then adjusts for the next 5, no cost but the appraisal. Maybe TD Bank has something different, those rates do sound excellent.</p>
<p>My HELOC is an actual LOC. And yes, it is high. The problem is…when they do a new appraisal, they will decide that we don’t have enough equity in our home to give us any sort of HELOC. If we do it with our current bank, they’d probably take it away, and right now it’s a HELOC for 250K, putting us up near LTV of 90-95%, and you can’t get a HELOC at that sort of LTV at any rate. So we’re not touching it till home values improve.</p>
<p>Well, I didn’t get too far with TD Bank. Started answering their questions, and it looks like they don’t loan in Washington state. Limited mostly to Northeastern states. I’ll just keep looking.</p>
<p>With condos, the development has to be on the “approved” list by FNMA or FHA. There are much stricter rules now about delinquincy rates in the development, whether proper reserves are being collected, whether there are enough owner-occupants, etc. </p>
<p>If they can’t sell the loan, you can’t get the mortgage. So a lot of lenders just don’t bother.</p>
<p>You need to find a lender that will hold the note, so they aren’t bound to the FNMA rules. Both TDBank and my credit union keep the loans AFAIK.</p>
<p>
Like I said, at the time I got them TD Bank was charging the same rate for either. I wasn’t going to argue with them. :D</p>
<p>My CU charges about a .375% higher rate for investment, and 1.75 points vs. no points for owner-occupied.</p>
<p>Check with your local banks, they are more likely to hold the paper.</p>
<p>Doct, have you ever contacted First Republic Bank? Thry are a little more aggressive out here compared to other banks.</p>
<p>I don’t see the bank in the state of Washington.</p>
<p>[First</a> Republic Bank - Locate](<a href=“http://www.firstrepublic.com/locate/index.html]First”>http://www.firstrepublic.com/locate/index.html)</p>
<p>Yep, not in WA. I didn’t have any luck from my local bank, but they are a huge company. Maybe I should look smaller. Either way, that 5/5 no fee HELOC at 4.75% for an investment condo seems like a decent deal if you aren’t going to keep it forever. I don’t know if I could do better than that even if I find a bank.</p>
<p>Actually, the VERY best deal is the Slate credit card. 0% interest for 15 months. And 0 balance transfer fees for the first 60 days, which is truly rare. Unfortunately, though, it’s only 15 months.</p>
<p>It’s zero percent no matter what? How large a balance can you carry?</p>
<p>The last time I got one (in June, I think), they told me the max amount approved for this type of card is 25K, and that the max you could get on balance transfer is 23.5K (so the other 1.5K, you’d have to charge). 0% on charges for the first 15 months too. We make min payments every month.</p>
<p>Here is the link; <a href=“https://creditcards.chase.com/credit-cards/slate2.aspx[/url]”>https://creditcards.chase.com/credit-cards/slate2.aspx</a></p>
<p>Looks like a good deal if you carry balances.</p>
<p>I guess this will make some of you happy…</p>
<p>[Why</a> Jobs Numbers Mean Low Rates for Years - Yahoo! Finance](<a href=“http://finance.yahoo.com/news/why-jobs-numbers-mean-low-184316286.html]Why”>http://finance.yahoo.com/news/why-jobs-numbers-mean-low-184316286.html)</p>
<p>I f****d up a trade and am trying to figure out how to save myself. Any ideas???</p>
<p>bought aapl 1/25 480 call for 70.85, then later as aapl started to drop sold 1/25 565 call for 9.10, bought a 535 put for 19.87, sold a 510 put for 9.87. Breakeven = 551.75. max loss to 510 = 16.75, max gain = 13.25 - yeah I know not a very good risk reward situation. I did the last 3 trades after aapl dropped from ~ 550 to 535. I figured 510 was pretty good support so that aapl would bounce off that but it looks like its going lower - much lower.</p>
<p>Wow. That is a mess. </p>
<p>Where are these options trading right now? How much have you lost if you close the trade out right now?</p>
<p>Sometimes a loss is a loss. </p>
<p>My initial reaction is to sell calls with more meat on them then the 565 call. The 565 call isn’t helping you now.</p>
<p>you mean buy the 565 call and sell a lower strike? Maybe I can also reset the put I sold doing that.</p>
<p>Yes…that is what I would do.</p>
<p>The put spread helps and it doesn’t help…</p>
<p>That is a problem too.</p>
<p>You can get screwed, if for example you sell the 520 calls and buy in the 565 calls and the stock bounces back…</p>
<p>I am using barchart.com …so I can see the options without using schwab…</p>
<p>I think I might sell the 535 calls and buy the 580 calls…</p>
<p>Or sell the 530 calls and buy the 575 calls…</p>
<p>Something like that…
Otherwise that put spread could be a problem…and yet you need that put spread for the downside…</p>
<p>So, if you do one of the above things…You still might lose, but your odds are better…</p>
<p>I am going to see how much you are down right now…</p>
<p>You have a lot of choices. You can sell the 520 calls …close the put spread…buy in the 565 calls…</p>
<p>You would lower your break even from 550 to 520…well you would lose 2 bucks maybe …at 520 and above. </p>
<p>Right now, you are down about 18?
Or you can do the above and buy a different put spread buy 500 and sell the 490s…</p>
<p>You still have risk below 510 right now…</p>
<p>Anyway… You have choices…</p>
<p>Thanks for the info - I’ll have to think about it tomorrow morning. This was the worse trade I think I’ve done in a long time.</p>
<p>then again maybe 510 will hold - it has every other time and earnings are on the 23rd</p>
<p>Ok no problem…</p>
<p>I am going to get some exercise.
You had a great year last year. We all have stinko trades. All of us have stinko trades except the liars.</p>
<p>510 might hold…</p>
<p>Earnings are before the expiration? </p>
<p>Hmmm… Maybe you want to Sell the 1/18s instead of the 1/25s…</p>
<p>Then the 1/18s go out worthless. Then the trade works and the 1/25s are gold…</p>
<p>Lots for you to think about…</p>
<p>Didn’t realize aapls earnings come out on the 23rd. That should keep volatilty pumped…</p>
<p>Hmmmm</p>
<p>yes expiration is after - I purposely did this expecting a runup to earnings which typically happens. I was most likely going to sell before it came out after the close on the 23rd. Sell what for the 1/19’s?</p>