Is it worth it!? Umm well sir, considering 1.5% difference on a 300k house will save you like 370 or something a month, then yep. I would say it is well worth it over the life of that loan!
There needs to be a separate area for rich people. The average cost of a home in america is $412,000. So he's talking to all these americans who just happen to have $82,000 ready to put down on a home. Sitting in the bank account. These finance guru's on here need to realize we dont have an extra $82 at the end of the month to splurge on a stay at the local cracked out motel 6. Let alone 82k downpaynent on an overpriced, run down, high mortgage, 85 year old home.
Is it worth it!? Umm well sir, considering 1.5% difference on a 300k house will save you like 370 or something a month, then yep. I would say it is well worth it over the life of that loan!
Don't live above your means.
1990 I bought a house FHA
He sold 42k, it appraised 52k
We sold 1998 69k while owing only 29k
40k profit, my ck 29k
There needs to be a separate area for rich people. The average cost of a home in america is $412,000. So he's talking to all these americans who just happen to have $82,000 ready to put down on a home. Sitting in the bank account. These finance guru's on here need to realize we dont have an extra $82 at the end of the month to splurge on a stay at the local cracked out motel 6. Let alone 82k downpaynent on an overpriced, run down, high mortgage, 85 year old home.
When i bought my house i didn't give a down payment. However i needed to prove i had the money to even qualify.
For a dump of a place in today's economy at 150k I'd have to save 30k. That would take me like 5 years of eating bread crumbs my dude.
Imagine thinking you will own a house someday.
If you're doing 5% you're doing conventional, FHA is 3.5%. no?