Socal, Brian. I know some of us are old enough to own homes.
I am a home owner...... What is the question?
Is the question: "where do I build the meth lab?" :rofl:
You rang?
What's your question?
~Brian
he did have something but then he edited it ???
Quote from: Peels660 on August 26, 2008, 12:44:00 PM
I am a home owner...... What is the question?
Is the question: "where do I build the meth lab?" :rofl:
You asked for that when you edited the no-whoring part of your post Shawn :lol:
I didn't uses a percentage, I used an actual # for my monthly costs for home ownership. I built in a "Fluff" amount for incidentals aswell to cover the "What if" issues that can quickly arrize. Be sure to calculate for property taxes, homeowners insurance , and HOA dues. (Easily overlooked).
I say figure out what your monthly out of pocket goal is then you'll be able to figure out the maximum $$ you'll want to spend on a home.
Do not, I repeat
Do not sacrifice your lifestyle money for a bit more house. A house can become a home over time with small invesments of time and money, but sitting at home all the time becuase you don't have any extra scratch to go anywhere will give you cabin fever bad.
Just my .02
Aaron
Do not, I repeat Do not sacrifice your lifestyle money for a bit more house. A house can become a home over time with small invesments of time and money, but sitting at home all the time becuase you don't have any extra scratch to go anywhere will give you cabin fever bad.
+1 on that colorado. Then you might hate your house even if it is not bad. Buy right below expected budget. Then fix what you don't like about the house. Don't buy "perfect house" then be stuck there and you can't fix it if "perfect".
Also, I believe you can get a list for potential forclosures from your county clerk. They are usually filed with an auction date, so it may help you secure a "Quick sale" via the homeowners original lender.
Aaron
Quote from: Colorado700R on August 26, 2008, 12:53:10 PM
Quote from: Peels660 on August 26, 2008, 12:44:00 PM
I am a home owner...... What is the question?
Is the question: "where do I build the meth lab?" :rofl:
Do not, I repeat Do not sacrifice your lifestyle money for a bit more house. A house can become a home over time with small invesments of time and money, but sitting at home all the time becuase you don't have any extra scratch to go anywhere will give you cabin fever bad.
Just my .02
Aaron
Couldn't agree more. This is why there are so many foreclosures now.
Most banks will qualify you at a percentage of your income. Most will factor 25% of your gross income as a payment maximum on FHA or VA loans. Guidelines are a tad more strict with FHA. Most FHA loans require 3% down, and no collections (if you have collections, they must be satisfied prior to close or at closing).
The housing market is a wreck. There are some great deals out there, but lending has started to tighten up.
~Brian
Son of a bitch, I hit modify instead of quote :mad: :mad:
anyways, you pretty much answered my questions. I have almost no debt, 100 for a camper and 150 for truck, thats about it. So I would think that 28% of grose income would be acceptable. Now does that 28% include insurence and taxes if its all rolled into one?
I totally agree about buying a fixer-upper, but they are kinda hard to come by. It kinda sucks that most of the houses in my price range are a good 1/2 hour drive to work.
Insurance will go into your payment, which will raise your payment. Don't forget PMI insurance.....This is applied to your note by the bank until you obtain below 80% loan to value on your loan with the bank.
~Brian
You also really need to keep an eye on closing costs and talk to whoever is doing your mortgage and get them to give you an idea of what they will be. Make sure that you have budgeted $ in to cover those costs out of pocket. They can be very expensive and a place where the mortgage guys can slip in extra fees to make a little extra $. Ask for a list of all costs and fees that will be included in the closing costs. It can be included in the cost of your house as well if you write it up that way.
Good point.
There are so bogus fees when associated with mortgage origination.
Example: Origination fee = Mortgage broker charging you a percentage to do your paperwork
~Brian
Quote from: Flynbyu on August 26, 2008, 02:00:50 PM
Good point.
There are so bogus fees when associated with mortgage origination.
Example: Origination fee = Mortgage broker charging you a percentage to do your paperwork
~Brian
Those FEE's piss me off. We just rented a hall for our reception and they charged 20% security fee!!!!! 20% of 6800+ gets a bit spendy!!!
Thaks for pointing that out!
Quote from: preddy08 on August 26, 2008, 02:46:16 PM
Quote from: Flynbyu on August 26, 2008, 02:00:50 PM
Good point.
There are so bogus fees when associated with mortgage origination.
Example: Origination fee = Mortgage broker charging you a percentage to do your paperwork
~Brian
Those FEE's piss me off. We just rented a hall for our reception and they charged 20% security fee!!!!! 20% of 6800+ gets a bit spendy!!!
Thaks for pointing that out!
Holy dog shit that's allot for a reception hall!!!! Corn husker stadium??? ::)
Tom Osborne wasn't speaking too was he?
~Brian
Quote from: Colorado700R on August 26, 2008, 02:47:24 PM
Quote from: preddy08 on August 26, 2008, 02:46:16 PM
Quote from: Flynbyu on August 26, 2008, 02:00:50 PM
Good point.
There are so bogus fees when associated with mortgage origination.
Example: Origination fee = Mortgage broker charging you a percentage to do your paperwork
~Brian
Those FEE's piss me off. We just rented a hall for our reception and they charged 20% security fee!!!!! 20% of 6800+ gets a bit spendy!!!
Thaks for pointing that out!
Holy dog shit that's allot for a reception hall!!!! Corn husker stadium??? ::)
im assuming that includes all the strippers too? ???
Thats hall and food....sorry!
Quote from: preddy08 on August 26, 2008, 02:55:40 PM
Thats hall and food....sorry!
good size reception still, huh? rough seating about 300?
Aaron
Quote from: Colorado700R on August 26, 2008, 02:57:39 PM
Quote from: preddy08 on August 26, 2008, 02:55:40 PM
Thats hall and food....sorry!
good size reception still, huh? rough seating about 300?
Aaron
Nope, it might be pushing 200. probabally 150-180.
Quote from: preddy08 on August 26, 2008, 02:46:16 PM
Quote from: Flynbyu on August 26, 2008, 02:00:50 PM
Good point.
There are so bogus fees when associated with mortgage origination.
Example: Origination fee = Mortgage broker charging you a percentage to do your paperwork
~Brian
Those FEE's piss me off. We just rented a hall for our reception and they charged 20% security fee!!!!! 20% of 6800+ gets a bit spendy!!!
Thaks for pointing that out!
what the hell did you do rent out beijing olympics stadiul
Quote from: preddy08 on August 26, 2008, 02:55:40 PM
Thats hall and food....sorry!
Damn!
I didn't spend that on getting married in Jamaica and a reception at home!
~Brian
Quote from: Flynbyu on August 26, 2008, 03:13:09 PM
Quote from: preddy08 on August 26, 2008, 02:55:40 PM
Thats hall and food....sorry!
Damn!
I didn't spend that on getting married in Jamaica and a reception at home!
~Brian
What kind of food you having Preddy?
Lydia's bro in Australia, food was $80 a head. about 100-125 people there. and cost to rent out a mansion. :jaw:
$80 a head?
Damn!
Bologna samiches bitches!
:lol:
~BRian
Quote from: Flynbyu on August 26, 2008, 03:15:31 PM
$80 a head?
Damn!
Bologna samiches bitches!
:lol:
~BRian
i know. It was a full 7 course meal, was freaking awesome. 8)
Quote from: Flynbyu on August 26, 2008, 03:15:31 PM
$80 a head?
Damn!
Bologna samiches bitches!
:lol:
~BRian
F :mad: ck dat, I say pot luck time bitches :lol:
Quote from: Krandall on August 26, 2008, 03:14:40 PM
Quote from: Flynbyu on August 26, 2008, 03:13:09 PM
Quote from: preddy08 on August 26, 2008, 02:55:40 PM
Thats hall and food....sorry!
Damn!
I didn't spend that on getting married in Jamaica and a reception at home!
~Brian
What kind of food you having Preddy?
Lydia's bro in Australia, food was $80 a head. about 100-125 people there. and cost to rent out a mansion. :jaw:
We have no idea on what kinda of food we are going to have, all I know is its going to kick ass!! I like good quality food, and if I have to pay for it then so be it.
boose is another 13 bucks a head. Thats not even the top shelf hooch!
Quote from: Colorado700R on August 26, 2008, 03:31:48 PM
Quote from: Flynbyu on August 26, 2008, 03:15:31 PM
$80 a head?
Damn!
Bologna samiches bitches!
:lol:
~BRian
F :mad: ck dat, I say pot luck time bitches :lol:
jeebus preddy! get a keg and some steaks. :rofl: You're in the midwest. :lol: