2021 NFL Season Thread Football • Page 105

my homebuying tip is put down as little as possible

 

Why's that? I've seen first time homebuyer programs that allow as little as 3% down, which seems crazy to me

 

Over 30 years an additional 5 or 10k is immaterial. Would rather have that cash in hand.

 

yep, just like @spiffa0 said its much better to have the extra $5-10k than to to have a a monthly payment lowered by $50/month or whatever it ends up being

We only put down I think 5% or something like that

 

But it’s not just 50 it’s the PMI too? Or are you saying if you’re putting under 20% down, then go as low as possible?

 

If you can afford to put down 20% more power to you but if you can't id just go minimum

 

Depends; there's some FHA style loans where you can put down that little, but, you end up with higher monthly payments paying mortgage insurance, etc. But if you've got pretty good credit, yeah, I think we did like 5% down....and that money went into replacing the A/C unit when it failed early on (which we expected).

If you know you're gonna stay in one place for 30 years, I'd put a ton down up front to minimize how much you spend in interest...but, in my case, I know my break even point (versus renting) is ~3 years, and we were planning on being here at least 5 years...so, its all to build equity and not see the money go up in smoke.

 

I can't even imagine having enough cash to put 20% down on a house worth buying, at least not where I live

 

we don't have any PMI

 

Really!?!? I thought it was like...completely guaranteed if you’re under 20% you get hit with PMI.

 

I traded Jared goff in madden for a 1st and a 3rd

 

we could have gotten 4.0% when we bought but took the slightly higher interest rate at 4.75% instead of having PMI

 

Dooooope that’s exciting to hear because the whole 20% thing is impossible

 

OK

 

Wow @GrantCloud

 

I’ve had some beers @PeacefulOrca

 

The art of the deal @GrantCloud

 

What ever happened to redd? Is he still on @GrantCloud island?

 

uh maybe, I just play my PS5 bro

 

which beers

 

yeah, the area i posted is has been in the process off being gentrified for some time now. while it somewhat sucks, it’s always been inevitable.

Mt. Washington has a bunch of empty land where they’re building houses similar to the one you posted.

if I were to eventually buy a house here I’d also go with Pasadena or somewhere along those lines

 

all the beers, now on some Japanese whiskey

 

also the fact that rent out here is essentially the same monthly price that some of you pay on your mortgage disgusts me lol

i’ve come to hate this place more than anything. i’ve always wanted to move out to Colorado for some reason and just might when i’m all settled

 

nice. i had two gin'n'gingers and now finishing the last beer

 

Ya’ll wanna cry? Take a look at the Boston housing market haha