posterchild336
Superstar
People don't realize how taxing a property is I make about 8x my mortgage and it still puts a dent in my pocket with all the other bills that come along with it
The Official Homeowners Thread
- Thread starter Dolla$
- Start date
People don't realize how taxing a property is I make about 8x my mortgage and it still puts a dent in my pocket with all the other bills that come along with it
beenz
Rap Guerilla
unless ur in a flood plain, u don't need flood insurance here. I have never had to get it before.
but I agree with u on the HOA nonsense. that doesn't apply out here unless u live in a condo or gated community, and we don't have too many of those (gated communities) in the city.
when u live somewhere like in the desert, do they charge you exorbitant cost for the water?
Disgustya Stallone
Man Who Owns 2 Microwaves
arms are the woat
beenz
Rap Guerilla
I had an ARM before. right before it was set to adjust thru the roof, I refinanced to a 30 year. it was not really a big deal.
O yea also, furnishing a damn house is expensive
Disgustya Stallone
Man Who Owns 2 Microwaves
it's a gamble... what if you couldn't get the rate you wanted when you tried to refi? lot of factors can play into why you wouldn't get the rate you're looking for.
IMHO it's a gamble not really worth taking.
beenz
Rap Guerilla
I had good credit and my payments were on time. and the banks gave me no trouble when I was trying to refinance. and why should they? I was giving them business.
Disgustya Stallone
Man Who Owns 2 Microwaves
good for you, but again, it's a gamble... hell even out of your hands... the world market plays into our mortgage interest rates.... what if another EU country like Greece had filed for bankruptcy as you were looking for a new loan? something completely out of your hands could have either a) had you locked into a nasty rate after your ARM expired or b) stuck with whatever rates are available in a world crisis
either way not worth it if you ask me.... esp if you're a first time homebuyer
too much volatility in the world
AVXL
Laughing at you n*ggaz like “ha ha ha”
Best advice I've seen in the thread so far is to make sure you get as much house as you can afford, idk if you guys live together now and are renting but if you are use that as a measuring stick, how much higher could your rent be before you feel
Find that # and stay well below it when it comes to the mortgage payment
Also don't let your girl go house crazy with the stuff she wants, you let her tell it she'll have yall living in a 6 bed 4 bath $500k house
She's actually the sensible one and would be the one to tell me not to do anything crazy like that
Yea we've lived together with our daughter since we've been together and we're renting now so that's kind of where we think would be at for a mortgage (under $1600 preferably).
Any of y'all done a townhome before? I personally want that since this will be a starter home type situation anyway, IDK if I would get more bang for our buck with a townhouse or a home
.༼-◕_◕-༽.
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Unless it doesn't rain where you live, you need flood insurance. I've seen soooo many people ass out listening to their realtor "this isn't a flood area"
Water is not more expensive because it's the desert- if you check out the background- the water was PRIVATIZED in certain areas NOT all of Phoenix, so the water bills are completely ridiculous compared to the rest of the area that's not privatized.
Flood insurance is the cheapest insurance to get to protect your home.
All you need is for it to not stop raining and boom you've got problems. Desert, mountains, no matter where you live
Closed on my first house 12/18/15, Stayed in apartment the for a year prior and then lived with my parents before that. The lease was up at the apartment in September so i moved back in with my parents and allowed me to stack some bread.
My credit score is in the high 600's closer to 700 but was able to get a FHA loan that took care of the down payment. I have student loans out as well as 2 auto loans.
Out out of pocket i paid: ~$500 for home inspection, another $500 for the appraisal , ~$700 for earnest money, which got returned and rolled into my loan at closing. Then I also paid ~$1000 at closing, but then got a check from the bank for $650. This all happened in a span of 1.5 months.
House itself sold for $150k 2050 sqft house. The house appraised for 165k as there were a TON of upgrades in the house. Granite counter tops, high end kitchen appliances, etc
. Seller took care of most of the closing cost. I think like 4.5k. Loving it so far.
My credit score is in the high 600's closer to 700 but was able to get a FHA loan that took care of the down payment. I have student loans out as well as 2 auto loans.
Out out of pocket i paid: ~$500 for home inspection, another $500 for the appraisal , ~$700 for earnest money, which got returned and rolled into my loan at closing. Then I also paid ~$1000 at closing, but then got a check from the bank for $650. This all happened in a span of 1.5 months.
House itself sold for $150k 2050 sqft house. The house appraised for 165k as there were a TON of upgrades in the house. Granite counter tops, high end kitchen appliances, etc
. Seller took care of most of the closing cost. I think like 4.5k. Loving it so far.
Disgustya Stallone
Man Who Owns 2 Microwaves
this is excellent advice
flood insurance is a must have, you'd be surprised what it covers
AVXL
Laughing at you n*ggaz like “ha ha ha”
Closed on my first house 12/18/15, Stayed in apartment the for a year prior and then lived with my parents before that. The lease was up at the apartment in September so i moved back in with my parents and allowed me to stack some bread.
My credit score is in the high 600's closer to 700 but was able to get a FHA loan that took care of the down payment. I have student loans out as well as 2 auto loans.
Out out of pocket i paid: ~$500 for home inspection, another $500 for the appraisal , ~$700 for earnest money, which got returned and rolled into my loan at closing. Then I also paid ~$1000 at closing, but then got a check from the bank for $650. This all happened in a span of 1.5 months.
House itself sold for $150k 2050 sqft house. The house appraised for 165k as there were a TON of upgrades in the house. Granite counter tops, high end kitchen appliances, etc
I see you an ATL breh, what part of town you at?
beenz
Rap Guerilla
Closed on my first house 12/18/15, Stayed in apartment the for a year prior and then lived with my parents before that. The lease was up at the apartment in September so i moved back in with my parents and allowed me to stack some bread.
My credit score is in the high 600's closer to 700 but was able to get a FHA loan that took care of the down payment. I have student loans out as well as 2 auto loans.
Out out of pocket i paid: ~$500 for home inspection, another $500 for the appraisal , ~$700 for earnest money, which got returned and rolled into my loan at closing. Then I also paid ~$1000 at closing, but then got a check from the bank for $650. This all happened in a span of 1.5 months.
House itself sold for $150k 2050 sqft house. The house appraised for 165k as there were a TON of upgrades in the house. Granite counter tops, high end kitchen appliances, etc
congrats, did you get assistance paying the downpayment? I ask because you really didn't have to pay anything out of pocket.
Thanks. Acworth
I see you an ATL breh, what part of town you at?