BaldingSoHard
Banned
How much did you put down for the down payment?
First house I think $25k.
Second house $40k.
Third house $85k-ish.
All my homeowners get in here?
- Thread starter Super Ramon
- Start date
First house I think $25k.
Second house $40k.
Third house $85k-ish.
Why?I think I sent you a PM regarding this.
NACA offers get rejected A LOT. I had an agent beg me to convince my sellers to accept their offer
Better head on down to your local community center and take some handyman classes.20%the repairs don’t stop. I feel poor
That's what I did.
Already avoided a crazy repair for a bulshyt leak.
Walking In home Depot feels like you really belong there now
"Um yeah can you tell me where your doors are"
Or there's YouTube university
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Money Be Green
Superstar
OfTheCross
Veteran
did you keep the first 2 properties? did you sell them for a profit?
obviously no one wants to rent forever, but i don't believe you're "losing" if your rent is 3 digits
im paying 900 in rent now. and yeah i could buy a condo, but even if i bought the fukkin thing in cash it would still be at least 600 a month for condo fee, property tax and insuranceplus repairing shyt, being tied down to it
ill buy something eventually but im not in a rush. if i was paying 1200 a month in rent id be in more of a rush
I feel exactly what you're bruh!!!!
Rockstar Mom
PhatGurlSwag
I started the process yesterday, actually. My union gives you $15k towards down payments and closing cost. And I have my own savings to add. I wanted a foreclosed home, since it’s cheap and I’m in NYC. But my buyers broker is telling me I should start with a condo for now. But there’s a decently priced, foreclosed 5 bedroom house in my neighborhood I’m scheming on I’m already stressed, and I just started
I’m already stressed, and I just startedI'm rethinking buying. Initially, I did intended on renting, then buying in 3 years.
Starting next month I'll be month to month for the next 6 months. For some odd reason, I didn't get accepted for the new place I sought to rent, even though money wise and credit wise,
I should have easily.
Gonna concentrate on buying now, since my score jumped over 700(came a long way from sub 500 years ago) after student loans came out of deferment. Will focus on paying down debt to get it near 750 by the end of the summer.
In the area I want to move to, Average homes are slightly under 500k. I can afford it easily, but I think I want to change occupations somewhere down the line (doing something I love)
that may not pay as much as what I'm making now. Guess I could always sell it, cause I'm not trying to pay 3k a month mortgage into my 50s.
I'm trying to move back to the islands and live off the land by then.
I don't have 80k to throw down for down payment, most I can give is about 20k.
It SUCKS thinking you gotta live your life, just to pay off your mortgage, when you're closer to death and all
That's why I want to pay my mortgage off as soon as possible. Yeah I'll still owe property taxes, insurance and whatever else, but at least if I need to sell that's all my money.
BaldingSoHard
Banned
U live in a mansion or something?
Nah. It's nice but it's not a mansion.
Paid off and renting out the first.
Sold the 2nd.
Currently living in the 3rd.
Mordith
H.E.N.R.Y.
obviously no one wants to rent forever, but i don't believe you're "losing" if your rent is 3 digits
im paying 900 in rent now. and yeah i could buy a condo, but even if i bought the fukkin thing in cash it would still be at least 600 a month for condo fee, property tax and insurance
ill buy something eventually but im not in a rush. if i was paying 1200 a month in rent id be in more of a rush
A counterpoint to the above opinion is that in June I will have owned my home for 2 years and my home value has increased by $50k since I purchased.
the cac mamba
Banned
yep
no arguing with that part
home warranties are severely underrated. get one at the time of purchase especially if you're buying an older property. it can save you a lot of money and huge headaches. plus any work done by the warranty company is insured and done within code. over the years i would have paid at least $20k out of pocket for hvac furnace, ac condensers, water heater, dishwasher, fridge, electrical gremlins, garage door opener, etc. most home warranties cover everything that came with the home. i paid a fraction of the cost for the warranty that i would have paid for various repairs/replacements. plus i can submit all my claims online and they call me within 24 hrs to dispatch a repair person.
that said, don't put down everything you got. you will still need a nest egg/savings/emergency fund. leaky roof, eventual siding replacement, chimney repair, drainage issues, sod or landscaping... homeownership is rewarding, but maintaining your property seems like a bottomless pit of cost at times. but when you sell and get that equity check...
that said, don't put down everything you got. you will still need a nest egg/savings/emergency fund. leaky roof, eventual siding replacement, chimney repair, drainage issues, sod or landscaping... homeownership is rewarding, but maintaining your property seems like a bottomless pit of cost at times. but when you sell and get that equity check...
NACA
No offense but a lot of home sellers in hot markets are not going to take you seriously because of the red tape that NACA has when it comes purchasing.
R.E.N. Spells Ren
Veteran
NACA
No offense but a lot of home sellers in hot markets are not going to take you seriously because of the red tape that NACA has when it comes purchasing.
I know plenty who have purchased with NACA.
But it's a fair point. What's the harm in having a NACA preapproval ready in case you need it? It's probably the best loan on the market for a buyer.
I had preapproval's from three lenders when I purchased my home.
Wink Beaufield
Superstar
Got my spot through Navy Federal. Credit score is on point so I qualified for their 0 down first time homebuyers program. Like everybody else said get a damn home warranty because the repairs just don't stop.