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Author
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Topic: 2 1/2 weeks after sold fox i got a house...
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PonyBoy415
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Member # 13662
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posted
 
 
Very dreadful , but realistic unfortunately......
Posts: 356 | From: San Francisco | Registered: Jul 2014
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90GT510
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Member # 9199
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posted
quote:
Originally posted by PonyBoy415:
Very dreadful , but realistic unfortunately......
Yes haha
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Stay Sydewayz
Posts: 1725 | From: East Bay/Dallas, TX | Registered: May 2009
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SLOWBACK 67
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Member # 6348
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posted
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions. ![[Big Grin]](biggrin.gif)
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Originally posted by turbo50:
I have no intenions of keeping anyones parts or taking anyones money.
Posts: 8582 | From: Vallejo | Registered: Dec 2005
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hurting your feelings
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Member # 13641
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posted
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
buy making a small down payment you may need to get
mortgage insurance an that could be 300 on up each month. Or would like to take that 300+ a month an use it make investments in to your future.
Posts: 1830 | From: In front of the bank with a 45 an a ski mask | Registered: Jun 2014
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venomous99
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Member # 1917
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posted
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
exactly...ppl just dont undersatnd on how all that translates when u pull money out and get all scared about pmi and shiet. pmi aint the end of the world and eventually will go away when u either refi or meet the term requirements.
FHA makes it pretty damn affordable to get a home on very little down.
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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hurting your feelings
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Member # 13641
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posted
quote:
Originally posted by venomous99:
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
exactly...ppl just dont undersatnd on how all that translates when u pull money out and get all scared about pmi and shiet. pmi aint the end of the world and eventually will go away when u either refi or meet the term requirements.
FHA makes it pretty damn affordable to get a home on very little down.
Paying long mortgage's is for suckers.an refinance your house every couple years an it will never be paid off.
Posts: 1830 | From: In front of the bank with a 45 an a ski mask | Registered: Jun 2014
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5.t0es
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Member # 5864
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posted
quote:
Originally posted by venomous99:
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
exactly...ppl just dont undersatnd on how all that translates when u pull money out and get all scared about pmi and shiet. pmi aint the end of the world and eventually will go away when u either refi or meet the term requirements.
FHA makes it pretty damn affordable to get a home on very little down.
Screw pmi, and stop giving false information, PMI is for the life of the loan now on fha loans, it does not go away without a refi.
Posts: 2990 | From: eb | Registered: Jul 2005
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SLOWBACK 67
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Member # 6348
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posted
I plan on having enough saved up to do a standard and paying it off in 20 years. When I decide to retire, I don't want a morgage on my home or rental properties. I'd rather stay in a higher tax bracket and pay the tax...... But know I own all my properties outright. ![[patriot]](graemlins/patriot.gif)
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Originally posted by turbo50:
I have no intenions of keeping anyones parts or taking anyones money.
Posts: 8582 | From: Vallejo | Registered: Dec 2005
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5.t0es
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Member # 5864
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posted
quote:
Originally posted by SLOWBACK 67:
I plan on having enough saved up to do a standard and paying it off in 20 years. When I decide to retire, I don't want a morgage on my home or rental properties. I'd rather stay in a higher tax bracket and pay the tax...... But know I own all my properties outright.
I dont mind all the write offs, I am around 13k just on taxes/intr.
Posts: 2990 | From: eb | Registered: Jul 2005
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sic70stang
CAFords OG
Member # 4347
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posted
It's tough out there for sure. I got super lucky and scored a 15 year loan. Got 11 left. Look forward to paying that off so I can be very irresponsible with money lol.
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The anti-crew
1987 rolling safety violation.
Posts: 6940 | From: California | Registered: Jul 2005
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5.t0es
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Member # 5864
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posted
quote:
Originally posted by sic70stang:
It's tough out there for sure. I got super lucky and scored a 15 year loan. Got 11 left. Look forward to paying that off so I can be very irresponsible with money lol.
thats awesome, side note, did you take the 70 stang to the tracy street races off mountain house?
Posts: 2990 | From: eb | Registered: Jul 2005
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SLOWBACK 67
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Member # 6348
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posted
quote:
Originally posted by sic70stang:
It's tough out there for sure. I got super lucky and scored a 15 year loan. Got 11 left. Look forward to paying that off so I can be very irresponsible with money lol.
Well season tickets for the Raiders is only like 500 bucks so you could pre pay a few seasons. ![[Razz]](tongue.gif)
Posts: 8582 | From: Vallejo | Registered: Dec 2005
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sic70stang
CAFords OG
Member # 4347
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posted
quote:
Originally posted by 5.t0es:
quote:
Originally posted by sic70stang:
It's tough out there for sure. I got super lucky and scored a 15 year loan. Got 11 left. Look forward to paying that off so I can be very irresponsible with money lol.
thats awesome, side note, did you take the 70 stang to the tracy street races off mountain house?
Haha yea, those were the days
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The anti-crew
1987 rolling safety violation.
Posts: 6940 | From: California | Registered: Jul 2005
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sic70stang
CAFords OG
Member # 4347
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posted
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by sic70stang:
It's tough out there for sure. I got super lucky and scored a 15 year loan. Got 11 left. Look forward to paying that off so I can be very irresponsible with money lol.
Well season tickets for the Raiders is only like 500 bucks so you could pre pay a few seasons.
Shit cheap seats are like $280 for the season. lol
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The anti-crew
1987 rolling safety violation.
Posts: 6940 | From: California | Registered: Jul 2005
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venomous99
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Member # 1917
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posted
quote:
Originally posted by 5.t0es:
quote:
Originally posted by venomous99:
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
exactly...ppl just dont undersatnd on how all that translates when u pull money out and get all scared about pmi and shiet. pmi aint the end of the world and eventually will go away when u either refi or meet the term requirements.
FHA makes it pretty damn affordable to get a home on very little down.
Screw pmi, and stop giving false information, PMI is for the life of the loan now on fha loans, it does not go away without a refi.
might want to do ur research about pmi and fha loans. pmi for the life of an fha loan is ridiculously false information. do u even know what the point is of having pmi? as far as it going away on a refi...depends on whether you meet the equity requirements.
i dont speak by my own personal experience in terms of pmi and fha loans as i opted to go with 20% down on my home. that said, reading up sure does help.
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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venomous99
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Member # 1917
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posted
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by venomous99:
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
exactly...ppl just dont undersatnd on how all that translates when u pull money out and get all scared about pmi and shiet. pmi aint the end of the world and eventually will go away when u either refi or meet the term requirements.
FHA makes it pretty damn affordable to get a home on very little down.
Paying long mortgage's is for suckers.an refinance your house every couple years an it will never be paid off.
refinancing a home isnt exactly a bad thing especially if you're getting a more favorable rate and term. having a mortgage isnt something to be scared of as long as u play your cards right.
paying off mortages entirely on some properties is the last thing on my mind as far as finances are concerned.
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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GOT 50
¯
Member # 1960
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posted
quote:
Originally posted by venomous99:
quote:
Originally posted by 5.t0es:
quote:
Originally posted by venomous99:
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
exactly...ppl just dont undersatnd on how all that translates when u pull money out and get all scared about pmi and shiet. pmi aint the end of the world and eventually will go away when u either refi or meet the term requirements.
FHA makes it pretty damn affordable to get a home on very little down.
Screw pmi, and stop giving false information, PMI is for the life of the loan now on fha loans, it does not go away without a refi.
might want to do ur research about pmi and fha loans. pmi for the life of an fha loan is ridiculously false information. do u even know what the point is of having pmi? as far as it going away on a refi...depends on whether you meet the equity requirements.
i dont speak by my own personal experience in terms of pmi and fha loans as i opted to go with 20% down on my home. that said, reading up sure does help.
Sorry Venemous but you are wrong. FHA required PMI is now for the life of the note. The only way out is to refinance which in the next 5-10 years will be impossible as interest rates are only going to go up making it almost impossible to refinance and lower your payment. The government is counting on this so they can pocket PMI money until the loan is paid in full.
Posts: 2139 | From: SF/DALY CITY/MILLBRAE | Registered: Oct 2002
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venomous99
¯
Member # 1917
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posted
quote:
Originally posted by GOT 50:
quote:
Originally posted by venomous99:
quote:
Originally posted by 5.t0es:
quote:
Originally posted by venomous99:
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
exactly...ppl just dont undersatnd on how all that translates when u pull money out and get all scared about pmi and shiet. pmi aint the end of the world and eventually will go away when u either refi or meet the term requirements.
FHA makes it pretty damn affordable to get a home on very little down.
Screw pmi, and stop giving false information, PMI is for the life of the loan now on fha loans, it does not go away without a refi.
might want to do ur research about pmi and fha loans. pmi for the life of an fha loan is ridiculously false information. do u even know what the point is of having pmi? as far as it going away on a refi...depends on whether you meet the equity requirements.
i dont speak by my own personal experience in terms of pmi and fha loans as i opted to go with 20% down on my home. that said, reading up sure does help.
Sorry Venemous but you are wrong. FHA required PMI is now for the life of the note. The only way out is to refinance which in the next 5-10 years will be impossible as interest rates are only going to go up making it almost impossible to refinance and lower your payment. The government is counting on this so they can pocket PMI money until the loan is paid in full.
wow..if thats true thats some jacked up shiet. all the crap i read about it was ud request for pmi cancellation when you're about to meet the equity requirements(20% or whatever it is) or just refi if youve also met the equity.
buddy of mine bought in mid 2011 with an fha loan and fast forward 3 years, hes ready to get out of his fha as his house has gone up near +$350k over the purchase price. gotta love the bay..
Posts: 4811 | From: dc | Registered: Oct 2002
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5.t0es
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Member # 5864
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posted
venomous, it sucks, but your buddy will not get out of his pmi without a refi. My house went up 200k, not speculated I actually paid for an appraisal, requested pmi removal and was denied due to the minimum length requirement. I opted to refi to a conventional and drop the pmi.
Posts: 2990 | From: eb | Registered: Jul 2005
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SacGrown89GT
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Member # 7435
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posted
Pmi goes away after 20% of loan is paid and you do a refi.
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"Your shit aint hot!"
"No but its faster than your shoes"
"...."
Posts: 699 | From: SacGROWNmento | Registered: Feb 2007
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hurting your feelings
¯
Member # 13641
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posted
quote:
Originally posted by venomous99:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by venomous99:
quote:
Originally posted by SLOWBACK 67:
quote:
Originally posted by hurting your feelings:
quote:
Originally posted by GOT 50:
quote:
Originally posted by SLOWBACK 67:
^ Don't borrow against your 401k. Under very very very rare situations should you ever take money early out of your 401k.
I disagree. Most 401K programs allow you to take a loan against your 401K net vested assets at a very low interest rate with no penalties for a first time home buyer.
I have to agree with you.
http://m.kiplinger.com/article/credit/T001-C000-S002-reasons-not-to-borrow-from-a-401-k.html
Just a small straight to the point article dealing with taking a loan against your 401k. You're better off lowering the % you're putting in while you set more money aside for a home. Starting next year I will be finacially stable enough to max out my 401k contributions.
exactly...ppl just dont undersatnd on how all that translates when u pull money out and get all scared about pmi and shiet. pmi aint the end of the world and eventually will go away when u either refi or meet the term requirements.
FHA makes it pretty damn affordable to get a home on very little down.
Paying long mortgage's is for suckers.an refinance your house every couple years an it will never be paid off.
refinancing a home isnt exactly a bad thing especially if you're getting a more favorable rate and term. having a mortgage isnt something to be scared of as long as u play your cards right.
paying off mortages entirely on some properties is the last thing on my mind as far as finances are concerned.
Personal I like to own everything out right if I can an I try to pay off any loans I get the fastest as I can. But that just me.
Posts: 1830 | From: In front of the bank with a 45 an a ski mask | Registered: Jun 2014
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1996 GT
I'm Joe Yates
Member # 4992
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posted
Unless you have a conventional loan which only requires an appraisal and not refying the loan.
FHA loans are for people with either bad credit or too impatient to save the extra 1.5% down.
[ 2015-05-04, 08:15 AM: Message edited by: 135.0 ]
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http://i.magaimg.net/img/257w.png
Posts: 9308 | Registered: Oct 2004
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5.t0es
¯
Member # 5864
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posted
quote:
Originally posted by 135.0:
Unless you have a conventional loan which only requires an appraisal and not refying the loan.
FHA loans are for people with either bad credit or too impatient to save the extra 1.5% down.
Correct, I am speaking fha-conventional.
Posts: 2990 | From: eb | Registered: Jul 2005
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5.t0es
¯
Member # 5864
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posted
quote:
Originally posted by SacGrown89GT:
Pmi goes away after 20% of loan is paid and you do a refi.
LOL whaaaa? if you refi to a conventional loan, the original loan does not need to be paid down 20 percent...you could have paid 25 dollars and if the new appraised value to balance owed has an acceptable ltv (20 percent equity) Then you will have no pmi.
[ 2015-05-04, 11:47 AM: Message edited by: 5.t0es ]
Posts: 2990 | From: eb | Registered: Jul 2005
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venomous99
¯
Member # 1917
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posted
quote:
Originally posted by 5.t0es:
venomous, it sucks, but your buddy will not get out of his pmi without a refi. My house went up 200k, not speculated I actually paid for an appraisal, requested pmi removal and was denied due to the minimum length requirement. I opted to refi to a conventional and drop the pmi.
yeah what i read was its a combination of meeting the equity requirements and the time frame stated in the loan terms. my buddy plans to refi or just sell to take advantage of this crazy ass market.
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MKII Q7
89LX
Posts: 4811 | From: dc | Registered: Oct 2002
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