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Old 01-21-2013, 11:06 AM   #41
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I'm finding some pretty boss houses around our area for under $100,000. I found a 3 bed, 2 bath house with .37 acres for $99,000. I figure they'll take $89,000 for it and a loan of $120,000 would cover the house, taxes, some furniture, appliances...

Dudes. I think I'll be getting a house.
Think again. The bank isn't going to go for this.
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Old 01-21-2013, 11:42 AM   #42
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I really want to buy and have plenty of money to do it, but I move every 3 years
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Old 01-21-2013, 01:40 PM   #43
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Think again. The bank isn't going to go for this.
So... loan for the mortgage and loan for everything else.



I wanted to keep it simple, but NOOOOOOO.
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Old 01-21-2013, 01:43 PM   #44
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market just keeps getting better and better here.. almost 5 years after owning my house I will be able to sell for min. of 80k more then what I paid for it..

#whatsarecession #whatsaforeclosure
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Old 01-21-2013, 01:46 PM   #45
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Old 01-21-2013, 10:07 PM   #46
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There are hard money lenders that will do it, but they want 40-50% down etc.

Show me a bank/credit union that will write a 30 year mortgage with 1 year documented income....
Got a phenomenal USDA loan (serviced by Chase) 0% down, 3% interest rate and have only been working at the lawfirm since August 2012. Credit score averaged is 790. Age 27. So go suck some **** you idiot. Loans are being handed out to those that can prove that they won't be getting a job flipping burgers at Burger King.
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Old 01-21-2013, 10:27 PM   #47
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Got a phenomenal USDA loan (serviced by Chase) 0% down, 3% interest rate and have only been working at the lawfirm since August 2012. Credit score averaged is 790. Age 27. So go suck some **** you idiot. Loans are being handed out to those that can prove that they won't be getting a job flipping burgers at Burger King.
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Old 01-21-2013, 10:31 PM   #48
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Old 01-21-2013, 10:45 PM   #49
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Got a phenomenal USDA loan (serviced by Chase) 0% down, 3% interest rate and have only been working at the lawfirm since August 2012. Credit score averaged is 790. Age 27. So go suck some **** you idiot. Loans are being handed out to those that can prove that they won't be getting a job flipping burgers at Burger King.
Your credit score isn't even over 800, clearly you don't lift ****.
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Old 01-21-2013, 10:52 PM   #50
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Perfect useage.
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Old 01-21-2013, 11:03 PM   #51
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I got my dad to co-sign and was pre-approved for $300,000... but I haven't bought a house yet. I want to buy a house I recently saw listed for sale, but I'm trying to save up more money in order to put a larger down payment and reduce the mortgage.

What's a good downpayment? Everyone has been telling me 20% used to be enough, but they are saying you need to put more down these days. If I could put 10% down and keep mortgage payments below $1,000/month I would do it in a heartbeat.
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Old 01-22-2013, 09:27 AM   #52
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I got my dad to co-sign and was pre-approved for $300,000... but I haven't bought a house yet. I want to buy a house I recently saw listed for sale, but I'm trying to save up more money in order to put a larger down payment and reduce the mortgage.

What's a good downpayment? Everyone has been telling me 20% used to be enough, but they are saying you need to put more down these days. If I could put 10% down and keep mortgage payments below $1,000/month I would do it in a heartbeat.
20 to 30 percent. But put down what you can afford and its best for your situation
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Old 01-22-2013, 09:49 AM   #53
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Got a phenomenal USDA loan (serviced by Chase) 0% down, 3% interest rate and have only been working at the lawfirm since August 2012. Credit score averaged is 790. Age 27. So go suck some **** you idiot. Loans are being handed out to those that can prove that they won't be getting a job flipping burgers at Burger King.
790?!!!
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Old 01-22-2013, 09:57 AM   #54
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Think again. The bank isn't going to go for this.
Likely not, but it really depends on the appraised value of the home. And, yes, there are still deals to be had at well under appraised value. Don't know if that's what he found, but don't know that it isn't what he found, either.

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790?!!!
You act like it matters at that point, for anything more than a p!ssing match.
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Old 01-22-2013, 11:03 AM   #55
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I feel the realestate market was trying to rebound faster than it should, propping up inflated prices that weren't anywhere near what the market value should be.
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Old 01-22-2013, 11:06 AM   #56
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I'm quite surprised at how quickly real estate prices appear to be climbing around here. Realtor friends tell me that if you're not coming in with at least the asking price (usually thousands more), you're not even going to get a response to your offer.
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Old 01-22-2013, 12:05 PM   #57
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20 to 30 percent. But put down what you can afford and its best for your situation
Thanks, right now I can't afford anything though lol
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Old 01-22-2013, 12:06 PM   #58
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Thanks, right now I can't afford anything though lol
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I can honestly say that because of Griffin, i am desensitized to alot of wierd stuff!
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Old 01-22-2013, 12:07 PM   #59
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I'm quite surprised at how quickly real estate prices appear to be climbing around here. Realtor friends tell me that if you're not coming in with at least the asking price (usually thousands more), you're not even going to get a response to your offer.
we have had an increase of 18% so far, and plan to have at least another 12% by summer.

I just tried to buy a place over the weekend. I offered 20k over asking and was outbid. Full cash offer too.
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Old 01-22-2013, 12:16 PM   #60
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Your credit score isn't even over 800, clearly you don't lift ****.
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790?!!!
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Originally Posted by Show me View Post
Likely not, but it really depends on the appraised value of the home. And, yes, there are still deals to be had at well under appraised value. Don't know if that's what he found, but don't know that it isn't what he found, either.


You act like it matters at that point, for anything more than a p!ssing match.
Wasn't saying 790 as if it's some ludicrously high credit score...790 is pretty good, but obviously above 800 is excellent. I was saying it to give full disclosure...the 790 actually hurt me a little in my rate.
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