the cac mamba
Veteran
place is pretty nice. im 28, putting down about 40%
any advice from the 6 certs brehs :jaymelo:
any advice from the 6 certs brehs :jaymelo:
Just had my offer accepted for my 1st condo
- Thread starter the cac mamba
- Start date
OfTheCross
Veteran
how much are you financing? what are you payments gonna be? why are you putting so much down?
the cac mamba
Veteran
because whatever i finance is losing 4.5% in interest, im not putting down a small payment. this gets my mortgage and condo fee down around to what im paying for rent now anyway
still have a fair amount of money left over to fukk around with
because whatever i finance is losing 4.5% in interest, im not putting down a small payment. this gets my mortgage and condo fee down around to what im paying for rent now anyway
still have a fair amount of money left over to fukk around with
Good looks on putting down a heavy down payment. Debt shackles and stifles income, which in truth is many people's best wealth generating tool.
Kilgore Trout
Banned
Good looks 
I remember this feeling
I remember this feeling
Mr Uncle Leroy
All Star
What type of work do you do? How long have you been saving? What is your interest rate? Do you plan to keep or sell the property in the future?
the cac mamba
Veteran
saving from about 21 to 28 i guess. make about 50 grand a year, so with what im putting down the bills every month is gonna = one paycheck. plan to spend whatever and then overpay the mortgage every month with whats left of the other paycheck
rate is 4.5 fixed. i just talked to some finance dikkhead this morning about investing, but honestly im not even sure i'm feelin that. if my loan is losing 4.5 interest, then i feel like id be better off just throwing any extra cash at the loan instead of gambling on getting over 5% back
place is nice, i could see myself here for another decade. would be a nice investment when i pay it off in 20 years and own a rental property when i turn 50
NZA
LOL
with 40% down, i dont think you even need any advice
the cac mamba
Veteran
around salem mass
DirtyMoney
Banned
Why on earth would it take that long to pay off ? Seems like you’re already saving a lot so throw it at the mortgage. Or invest
Well done Cac!!!
Lv99 Slacker
Pro
Trying to get in this same position. Made an offer for a 3BR/2BA condo in Austin TX, and my file has been submitted to the closing department of the mortgage lender I'm working with, but...I owe back taxes for 2016. I'm waiting for my filing to be processed by the IRS, so that I can pay my due and show proof of payment to the lender. The IRS is slow as fukk at processing. Not sure if this deal is going to happen. I'm a first time home buyer...or trying to be.
