The Official Homeowners Thread

greenvale

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Let's say I want to avoid as much interest I can over the 30 years for this loan. What's a good method to do so? Over pay each time? One big payment every quarter for example?
 

OfTheCross

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Keeping my overhead low, and my understand high
Let's say I want to avoid as much interest I can over the 30 years for this loan. What's a good method to do so? Over pay each time? One big payment every quarter for example?

Tell the bank/credit union you want to do bi-weekly payments is the easiest and most pain-free way
 

Rawtid

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Let's say I want to avoid as much interest I can over the 30 years for this loan. What's a good method to do so? Over pay each time? One big payment every quarter for example?
Ensure any additional payments go to principle only. My credit union allows me to select the option, but if it’s an ancient ass bank, you may have to request someone else to do it.
 

greenvale

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Tell the bank/credit union you want to do bi-weekly payments is the easiest and most pain-free way

Ensure any additional payments go to principle only. My credit union allows me to select the option, but if it’s an ancient ass bank, you may have to request someone else to do it.
Thanks! I signed some closing docs yesterday and once I saw that interest amount I was like damn I need to get ahead of this.
 

Rawtid

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Thanks! I signed some closing docs yesterday and once I saw that interest amount I was like damn I need to get ahead of this.
Congratulations!! And it’s can be daunting at first, but eventually you have less and less anxiety about it. Lol I make a petty as principle only payment monthly, but that’s because I like to keep my mortgage balance as a whole number. $97,420 right now.
 
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Leaving the Army this year and looking to buy early next year with the VA loan. Will be moving in the Alpharetta, GA area.

Scimmed through this thread and the info is :whoo:

Imma need to start from the beginning. :popcorn:
 

BlaxOps

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My house should be finished in August any tips for a first time homebuyer?
Don't let them rush you during the walkthrough. If you can, take someone that can examine the A/C duct work, plumbing and electrical panel.

Check if your state offers a homestead exemption. I spent 2 years of significantly higher property taxes before I found out what it was.
 

OfTheCross

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Keeping my overhead low, and my understand high
Don't let them rush you during the walkthrough. If you can, take someone that can examine the A/C duct work, plumbing and electrical panel.

Check if your state offers a homestead exemption. I spent 2 years of significantly higher property taxes before I found out what it was.

@Crude Abolitionist

In that same vein, check if your state or county has a cap on how much your tax bill can increase annually. Ours is 3%. But the way property values are fluctuating these days I think it's important that you prepare yourself for the added expense if there's no cap.

Also, be aware that Insurance rates go pretty much go up every year no matter what (at least here they do). Shop around every year.
 

greenvale

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This pool shyt hard as hell. One day everything balanced and nice, next day everything out of whack :dead:

Imma give myself 2 summers to get it right but if not im throwing it in the bushes
 
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