AZ BS Thread 2.0

I'm good. You?

 

Good. Just working my tail off. Trying to get this house stuff figured out.

 

Find house.
Buy house.
Pay off house for the next 30 years.
Buy another house before the first on is paid off.
Sell old house.
Repeat.

 

Thats the plan. We have found a house. Looking into prequalification currently. Down side Is we are responsible people and dont have allot of debt. Or kids. Or on state welfare. Etc etc etc so it seems to be harder to get financed without thousands and thousands of dollars for the down payment. Which sucks cause I have a terrible addiction to truck parts

 

I know how that rolls. We had to get a smaller house first, then upgrade later after we built up some credit and what not before we moved into the house we are in now.

 

look into first time home buyers programs, they can help more than you can imagine.

 

Oh really. Our credit Is good. I qualified for 260k on my own without whit. But the problem im having is the down. I dont know how these people think. Is it common for people to have 20-30k in the bank for a down?! But the couple that has the husband working part time and wife that doesnt work and has a kid has all these programs to get them into a house with 500 bucks down. Its bullshit. Or my old room mate that let the bank foreclose on his house and had another one bought in a month after he filed for bankruptcy was in a fucking huge god damn mansion out off princess rd in scottsdale. I dont get it. Do they know something I dont?

 

I have looked. There are none for up here.

 

I did have a down payment which helped me a lot. But I also bought my house 11 years ago and things are different now. I'm trying to think if I know anyone who is a realtor that can help out. If I do I'll put you in touch with them.

 

Yes, they want you to have 10-20% down. If it wasn't for the VA loan, I would still be renting. It's fucking stupid hard for a decent person to get a house.

 

ask about a FHA loan, small down payments there.

 

I have a friend thats a realitor thats helping us out. I have a couple appointments with mortgage companies tomorrow to see what we can do. I have money for a down. But not as much as they are asking. So I just got to calm myself down and see what my options are then go from there.

 

Yeah I been looking Into those and thats more my speed.

 

good luck buddy

buying a home can be the most stressful time of your life.

 

Thanks brother. And yes It can be. I just applied last night and i already found 7 grey hairs and lost 10lbs

 

the problem with not coming in with 20% down is then you have to pay mortgage insurance, which can vary from like 70 bucks a month and up. my gfs house is 180kish and her mortgage insurance is $149 a month. (out rageous)

once you pay your loan down 20%, mortgage insurance goes away and saves you money.
its pretty beneficial to come in with 20% if at all possible because it will also lower your rate.

 

Yeah I would come in with 20% if I could but I just think for a first time home buyer itsca little ridiculous. 20% of 210k is $ 42,000. If I had that I would have paid the trucks off.

But I see what youre getting at. I just need to be wealthy

 

I've been in an FHA loan for the almost 2 years that I've owned. I refinanced and got a 3.75 rate but I have that stupid PMI payment. My goal now is to get rid of that PMI and go standard but I need more equity. Houses in my area are on the rise so hopefully I can get there soon.
I did a program called home in 5 where the county paid my 5%. It worked out well for me considering I'm a white single male from a loan perspective.

 

Yeah I tried that program up here. Doesnt exist in this county. Well not since 2011 anyway

 

Lol wouldn't hurt if I stopped buying truck stuff and going on trips tho.