The correct way to buy a home! And this dude shyts all over Ramsey’s financial lessons

[UberEatsDriver]

I use to always be a fan of FHA loans in my early years in real estate but now I rather be patient and save the 20%

 

[Pseudonym]

I use to always be a fan of FHA loans in my early years in real estate but now I rather be patient and save the 20%

One of my neighbors was like yea I just put down $5k and my interest rate is (something ridiculous).


I wanted to say : Congratulations??? You now have a mortgage until death


Putting down 20-25% shouldn’t be too hard if you’re buying within your means

 

[Mowgli]

live with your mother if you have to but save up that 25% and refinance early if you have to to secure that low interest rate.

it feels good to pay rent money on a mortgage

 

[Pseudonym]

live with your mother if you have to but save up that 25% and refinance early if you have to to secure that low interest rate.

it feels good to pay rent money on a mortgage

The amount owed gets lower and lower each month. Best.feeling.ever.

 

[Lord_nikon]

be back

 

[50CentStan]

Most Americans live above their means so 20% down is rare. And less than 20% down they really rape you a with the int rate

 

[Astroslik]

I use to always be a fan of FHA loans in my early years in real estate but now I rather be patient and save the 20%

33%

 

[UberEatsDriver]

33%

Even better

 

[UberEatsDriver]

Most Americans live above their means so 20% down is rare. And less than 20% down they really rape you a with the int rate

It’s starting to make sense why a lot of people who get easy loans for close so fast cause the people who save 20% are probably frugal and good with money.

 

[King Frost]

the best way is to buy land then build your house however you want it

 

[UberEatsDriver]

the best way is to buy land then build your house however you want it

No that’s a personal choice.

 

[getmoney310cpt]

Lol how many people got 20 per cent down for a 800k to 1.5 mil home?

the reality in California

 

[Gold]

I use to always be a fan of FHA loans in my early years in real estate but now I rather be patient and save the 20%

You can refinance out of PMI when you have 20% equity. There are many ways to go. The older i get the more i realize that there different ways to do this shyt

I do think that no matter what u do, paying an extra principle only payment each month is wise.

 

[Mowgli]

Lol how many people got 20 per cent down for a 800k to 1.5 mil home?

the reality in California

Become a couple and save. May have to get the 4-500 k

and if u save up over a hundred grand you may want to cash out and just move out of state and buy a house flat out..

that way, even if u have to work a punk ass job it's not going to break you because the mortgage doesn't exist.


Edit. side bar
you can also buy that shyt flat out then have someone pay u rent to live there which you then use toward your next home purchase or just to take the edge off your current bills

 

[Standing on business]

Lol how many people got 20 per cent down for a 800k to 1.5 mil home?

the reality in California

With having to pay these crazy rent prices and rapid rise of home cost it’s becoming hard for people to save 20%