kirks5oh Posted January 26, 2011 Report Share Posted January 26, 2011 i'd rather have a nice house and a condo in florida/carolinas, as opposed to building a custom 'dream house' Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted January 26, 2011 Report Share Posted January 26, 2011 i'd rather have a nice house and a condo in florida/carolinas, as opposed to building a custom 'dream house' Yeah, your current home, garage and cars suck. Way to be poor. -Marc Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted January 26, 2011 Report Share Posted January 26, 2011 i bought my dream home at 23 lol Some folks have small dreams. Marc, What kind of interest/closing rates do you have for a 30 year mortgage on a home with good debt/value and VERY good credit score. Quote Link to comment Share on other sites More sharing options...
russian rocket Posted January 27, 2011 Report Share Posted January 27, 2011 Some folks have small dreams. Marc, What kind of interest/closing rates do you have for a 30 year mortgage on a home with good debt/value and VERY good credit score. No I have decent dreams. I was just lucky enough to find a house that I could comfortably start and raise a family in. Plus has all the property and garage space that I would ever need. Quote Link to comment Share on other sites More sharing options...
Twistedrx7 Posted January 27, 2011 Report Share Posted January 27, 2011 i bought my dream home at 23 lol Not everyone is as stuck up as others either. Quote Link to comment Share on other sites More sharing options...
russian rocket Posted January 27, 2011 Report Share Posted January 27, 2011 Not everyone is as stuck up as others either. not stuck up, just hard work and dedication pay off Quote Link to comment Share on other sites More sharing options...
Got-Boost? Posted January 27, 2011 Report Share Posted January 27, 2011 0% to me, means there's no reason to pay it off any sooner than the 5 years, the loan is slated for. i fully understand that you either get the car for cheaper and get a standard loan (or pay cash), or you get 0% and they jack the price up just a bit---but thanks for explaining that to me. http://www.columbusracing.com/forums/../ubb/rolleyes.gif i could have paid cash for either of my cars, but preferred puting that money towards the house, and savings I was just giving an example since it was brought up (still not a true 0%), wasn't trying to explain anything to you but congrats since you took offense. I guess you are the only person online that can do this....better yet, sell the cars and pay off your school debt... http://www.columbusracing.com/forums/../ubb/wink.gif i bought my dream home at 23 lol Apparently some people on here like to crush dreams.... j/k Quote Link to comment Share on other sites More sharing options...
AJ Posted January 27, 2011 Report Share Posted January 27, 2011 not stuck up, just hard work and dedication pay off he didn't mean you. Quote Link to comment Share on other sites More sharing options...
Nitrousbird Posted January 27, 2011 Report Share Posted January 27, 2011 Not everyone is as stuck up as others either. Some of us simply dream much bigger. I LOVE our home, but it's not a dream home. It is mostly everything we need (still want to build an additional garage/shop), and is bigger than we will ever "need" but I dream much bigger...I've seen a couple of my dream homes in Columbus, but don't come close to the 7 figures it would take to buy one of them. If your dreams are small, then I guess you can easily achieve that dream. Quote Link to comment Share on other sites More sharing options...
Bahnstoermer1647545488 Posted February 2, 2011 Report Share Posted February 2, 2011 (edited) Following my advice will lead to an A+ credit rating. Following the advice of commissioned mortgage lenders led us to the housing crisis. This wasn't "advice" to "mortgage brokers", this was advice to others to protect them from "mortgage brokers"! It's not my fault your industry is / was full of scumbags and selfish bastards. And like Larry Potterfield says... "... and that's the way it is." EDIT: And actually, to get back on track... To anyone considering buying a home or condo that needs a mortgage. Get the simplest, lowest fixed rate mortgage you can get. Going 30 years over 20 or 15 will cost you tens of thousands of dollars more, thrown away to the mortgage company in interest for what will amount to a very minor increase in your monthly payment. Go get an amortization chart, or read the first post in this thread and study it until you understand. (Hell, PM me and I'll help protect you from those who have their own interest at heart). It offers a very small risk reduction in that the monthly payment will be slightly lower, but usually not nearly enough to have an affect on your abiliyt to keep your home or not should an issue occur. Go run the numbers yourself and confirm. Getting the shorter term enforces discipline most don't have, and is highly unlikely to actually do you any harm and very likely to help you tremendously. If you can't live at that payment, then borrow LESS! THAT IS THE ANSWER, NOT GIVE MORE INTEREST AWAY! Ignore, better yet, walk away from anyone trying to sell, and I do mean sell, you anything complex financially. They created the complexity to try and make more money from you. If you don't believe me, demand they answer how much money they or their company will make compared to the basic loan you're asking for. They won't want to give you a straight answer, but if they do you'll know why. Complexity is only to benefit them. If you don't believe me, go talk to your accountant who has no interest in selling you a mortgage, and present him or her your "mortgage brokers" "options"! And, while we're discussing professions the world would be better off without, don't use a Realtor either. Pay your attorney a few hundred dollars for a contract agreement, skip the buyer Realtor and look yourself, and if possible bypass / wait out the seller's Realtor contract and save yourself the 6% (tends of thousands) in useless Realtor fees that you and seller can split between yourselves for a few hundred on your legal bill. And no, this isn't speculation, more FACTS I have taken advantage of personally. The reason these people get so defensive is because they know they're not really needed and go crazy if anyone suggests it. What do you think the "protected" MLS is for? You got it... Realtors trying to keep control because they're not worth it if free information shown the light of truth upon them! Any profession full of anyone without a specific previous experience or training or similarity in skillsets should be suspect, and the Realtor industry is a stand out. Every mom with kids just out of college thinks about being a Realtor..... their skill sets with your money certainly aren't going to be greater than yours with your money and some homework, and luckily, you care about keeping your money - they want to take it. Mortgage brokers and Realtors, don't bother responding. I'm offering my time free to help anyone looking to buy their first home with no interest in the transaction whatsoever... just a no-strings offer because I can't stand the scammers in the world taking advantage of people, and I see it in Realtors and Lending alllll the time. The situation isn't complex if you listen to people without an interest in taking your money. Without this unbiased information though, you will easily be screwed by ommission of information and misleading materials presented to you. My name is Alex, PM me anyone if you want to take me up on the offer and I'll be happy to help. Edited February 2, 2011 by Bahnstoermer Quote Link to comment Share on other sites More sharing options...
Nick Posted February 3, 2011 Report Share Posted February 3, 2011 I love how people in this thread can easily tell others how they should spend their money, and tell them how stupid they are when they do it. Quote Link to comment Share on other sites More sharing options...
LJ Posted February 3, 2011 Report Share Posted February 3, 2011 Following my advice will lead to an A+ credit rating. Following the advice of commissioned mortgage lenders led us to the housing crisis. This wasn't "advice" to "mortgage brokers", this was advice to others to protect them from "mortgage brokers"! It's not my fault your industry is / was full of scumbags and selfish bastards. And like Larry Potterfield says... "... and that's the way it is." EDIT: And actually, to get back on track... To anyone considering buying a home or condo that needs a mortgage. Get the simplest, lowest fixed rate mortgage you can get. Going 30 years over 20 or 15 will cost you tens of thousands of dollars more, thrown away to the mortgage company in interest for what will amount to a very minor increase in your monthly payment. Go get an amortization chart, or read the first post in this thread and study it until you understand. (Hell, PM me and I'll help protect you from those who have their own interest at heart). It offers a very small risk reduction in that the monthly payment will be slightly lower, but usually not nearly enough to have an affect on your abiliyt to keep your home or not should an issue occur. Go run the numbers yourself and confirm. Getting the shorter term enforces discipline most don't have, and is highly unlikely to actually do you any harm and very likely to help you tremendously. If you can't live at that payment, then borrow LESS! THAT IS THE ANSWER, NOT GIVE MORE INTEREST AWAY! Ignore, better yet, walk away from anyone trying to sell, and I do mean sell, you anything complex financially. They created the complexity to try and make more money from you. If you don't believe me, demand they answer how much money they or their company will make compared to the basic loan you're asking for. They won't want to give you a straight answer, but if they do you'll know why. Complexity is only to benefit them. If you don't believe me, go talk to your accountant who has no interest in selling you a mortgage, and present him or her your "mortgage brokers" "options"! And, while we're discussing professions the world would be better off without, don't use a Realtor either. Pay your attorney a few hundred dollars for a contract agreement, skip the buyer Realtor and look yourself, and if possible bypass / wait out the seller's Realtor contract and save yourself the 6% (tends of thousands) in useless Realtor fees that you and seller can split between yourselves for a few hundred on your legal bill. And no, this isn't speculation, more FACTS I have taken advantage of personally. The reason these people get so defensive is because they know they're not really needed and go crazy if anyone suggests it. What do you think the "protected" MLS is for? You got it... Realtors trying to keep control because they're not worth it if free information shown the light of truth upon them! Any profession full of anyone without a specific previous experience or training or similarity in skillsets should be suspect, and the Realtor industry is a stand out. Every mom with kids just out of college thinks about being a Realtor..... their skill sets with your money certainly aren't going to be greater than yours with your money and some homework, and luckily, you care about keeping your money - they want to take it. Mortgage brokers and Realtors, don't bother responding. I'm offering my time free to help anyone looking to buy their first home with no interest in the transaction whatsoever... just a no-strings offer because I can't stand the scammers in the world taking advantage of people, and I see it in Realtors and Lending alllll the time. The situation isn't complex if you listen to people without an interest in taking your money. Without this unbiased information though, you will easily be screwed by ommission of information and misleading materials presented to you. My name is Alex, PM me anyone if you want to take me up on the offer and I'll be happy to help. Lots of terrible advice in this post. Please do not listen to the majority of it. A 100,000 mortgage, a 30 yr payment will be $228 cheaper per month. That is a large amount of money. Also, if you are buying, you don't pay your realtor shit. Hiring a real estate lawyer actually COSTS you MORE money. Seriously, this post is full of a bunch of bullshit of someone spewing some stupidity that they know nothing about. Quote Link to comment Share on other sites More sharing options...
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