Depends on if there are pre-paynemt penalties, a longer term loan w/lower interest may be the best answer. Stats show that home owners pay off their loans before the typical 30 year loan. I did that on two RE loans one owner occupied & one income property.
There is no excuse for not knowing the monthly payments per $1000 for 15 and 30 year mortgages at the current rates. This information is available on every finance and bank web site. Anybody who depends on the seller or agent for this information deserves to get ripped off.
You're absolutely right! In fact Many Sellers, will not allow their home to be shown without a buyer being qualified or pre-approval before showing...so it is a thing! It's all part of making the buying experience smoother.
I got the same advise when buying a new car a month ago. Always seems like the sales person is trying to screw you out of the most, of everything, they can. I am in the process of considering buying a home and this information makes me very weary!
"This Guy" says... a primary residence you can put 5% down...If you already own a primary residence...that's called an investment and banks and lender will want more skin in the game if you don't live in it full time...that's called an investment property and they want more down for those types of properties. Thanks for watching and commenting.
There's a tiny house for sale a few blocks away from where I live in Maryland. $275.000 For this price I would rather have a town house. Then again this is Maryland. EVERYTHING IS $$$$
@@davechristopher6462Buying a townhouse for 275K is extremely inexpensive. 😵Many areas of Southern California, are asking over one million for townhomes that sold for around 800K four years ago. I am looking to buy a cheaper one in northern Arizona from the mid 400K to 500K.
Don't work for money; make money work for you. Invest wisely today to create the freedom you desire tomorrow!!
Depends on if there are pre-paynemt penalties, a longer term loan w/lower interest may be the best answer. Stats show that home owners pay off their loans before the typical 30 year loan. I did that on two RE loans one owner occupied & one income property.
Good advice Jerry! Thank you.
NEVER use a home inspector recommended by a real estate agent for you or the seller. Pay for this protection.
Thank you for sharing your thoughts! It's important to spread awareness about this to help others make informed decisions.
Just a suggestion, never use that sentence again: "I grew up in a middle class family" 😂
Tainted now.
Lol
😂 LOL!
💀💀😂😂😂
There is no excuse for not knowing the monthly payments per $1000 for 15 and 30 year mortgages at the current rates. This information is available on every finance and bank web site. Anybody who depends on the seller or agent for this information deserves to get ripped off.
Get preapproved so you know what you can afford.
Most realtors will not show you a home until you complete that process
@islesofshoals3551 There are still some that will show a home. Let the buyer place a bid, and the buyer hasn't been pre-approved.
Absolutely! Getting preapproved is a smart move to understand your budget better. It sets a solid foundation for your home search!
You're absolutely right! In fact Many Sellers, will not allow their home to be shown without a buyer being qualified or pre-approval before showing...so it is a thing! It's all part of making the buying experience smoother.
Ah, the classic “I love this house but my bank account says no” scenario! Pre-approval is like having a VIP pass to the home-buying party!
I got the same advise when buying a new car a month ago. Always seems like the sales person is trying to screw you out of the most, of everything, they can.
I am in the process of considering buying a home and this information makes me very weary!
Any opportunities jobs ?
Opportunities are like buses-there’s always another one coming. Just make sure to hop on when it arrives!
This guy. "25% is an investment down payment. You only need 5%"
"This Guy" says... a primary residence you can put 5% down...If you already own a primary residence...that's called an investment and banks and lender will want more skin in the game if you don't live in it full time...that's called an investment property and they want more down for those types of properties. Thanks for watching and commenting.
Too expensive! Buy a tiny house.
Silly
There's a tiny house for sale a few blocks away from where I live in Maryland. $275.000 For this price I would rather have a town house. Then again this is Maryland. EVERYTHING IS $$$$
@@CoolHandLuke01 WHAT WE GOT HERE IS A FAILURE TO COMMUNICATE
@@davechristopher6462Buying a townhouse for 275K is extremely inexpensive. 😵Many areas of Southern California, are asking over one million for townhomes that sold for around 800K four years ago.
I am looking to buy a cheaper one in northern Arizona from the mid 400K to 500K.
@@CoolHandLuke01 I ate 51 eggs lil bro. Now get me my drinkin money! Then I’ll play ya a song.