AZ BS Thread 2.0

I do later today when i get back home. PM me.

 

Yeah. Im going to get some more Info tomorrow. All I currently know is from research I have done online and what people have been telling me. I have no idea about any of this stuff . So im just stressing for no reason at the moment

 

Thanks dude i am so excited for him. he's going to make it big.
hes just scared because he doesnt have much backing money wise. but i am going to help him out as well with some other people

poker tonight foolio?

 

He will do very well, especially with support you're one good man.

and whats poker? never heard of her .

 

I got some medicine to fix that .

 

Where do you live?

 

thanks man
hehe

x2!!!

also, its a sad sad day..... but my dad is going to be selling his R1 rhino he built to help fund the shop.

 

Up In show low.


Thanks Q ! Youre always so sweet to me

 

Ya.

 

oh ok, yeah i moved into my house with a gov't grant paying the 5% down, but it only works in maricopa county.

 

off that thing was so badass but i bet in 5 years or so he will have one 10X better

Of course babe

 

Yeah. I even debated moving back down to phoenix to get a grant so i could have a extra 5% but i just like the woods to much. Im sure there is something im missing

 

i would stay where you are.... haha

 

Some grants can be stacked. I did a loan with 25k down payment assistance. All that said... do you really want to be in a house if you dont have at least 6 months expenses in emergency reserves? Doenpayment is only part of it. The thing most first time buyers dont know about is the 600 for appraisal 300 for inspection, first year of homeowners insurance, prepaid property taxes, lender fees, 1k+ escrow and recording fees, etc... all those closing costs add up usually to at least a few thousand. If you're trying to get by with 200k house putting 3% down, you should have 10k+ in savings and at least 6mo expenses set aside (hopefully not an ira or 401k, but acceptable).

 

Down payment assistance is essentially sub prime lending, which is how we got into the current market. It blows my mind that people feel entitled to take a six figure loan and make one of the largest purchases in their life without the foresight to even plan and save for a down payment.

 

save 42k just to purchase a house? no thanks.

why wouldnt you take down payment assistance? it is assinine to not, and if you dont want to, go ahead.
but to advise others not to, is..... well. yeah.

just because we arent rich and cant save 42k while renting out a house at the same time doesnt mean we shouldnt get a home.

 

There is sound advice here ppl, although, some may not like what they hear, but the logic is undeniable . . .

 

Please explain to me how it is asinine to not have to pay for mortgage insurance because you had the foresight to save?

I'm not even going to touch your thought that you have to be "rich" to save up $42k in cash. Now that's an asinine statement.

 

I'm just happy to have our first home.. 16k down. Conventional. (We were going to do the Maricopa 5% grant but wet couldn't add our down payment on top of it, plus had to use their loan) Refinanced after the first year. Mortgage paid insurance. Rate at 3.25. Our house payment is only 940. We pay extra every month too.. Straight to principle.

 

Whoa guys lets slow down. Thanks for all the advice. We have been saving for a couple years now. Its just not 42 k worth. And with my dad passing 2 months ago and im the most well off in the family the bills for everything fell onto my shoulders along with travel expenses for some people. (Took a good chunk out of my savings) I am figuring in the closing costs etc into this which is why I dont think my down payment willbe what they are looking for. And was asking advice ftom eeveryone here. I appreciate all you gyys helped me out with today. Thanks