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Message
re: interest rates on home mortgages wont fall anytime soon
Posted on 7/25/23 at 7:49 pm to jcaz
Posted on 7/25/23 at 7:49 pm to jcaz
quote:
Waiting to save up 20% during record low interest rates is such a Dave Ramsey thing to do. We did USDA RD zero down loan and saw our equity increase 20% in 2 years. My dad (boomer) said I was stupid for thinking I could get a mortgage without 20% down.
I could have put down 20% when I bought my current house but did 5% instead due to low interest rates. I invested money instead and it has worked out well so far
1
Posted on 7/25/23 at 9:56 pm to yellowfin
quote:
I could have put down 20% when I bought my current house but did 5% instead due to low interest rates.
We didn’t have much cash on hand at the time due to covid layoffs but had just gotten a new job with good salary. We knew we had to get in a home now or never.
When you are paying $800/month for a crap apartment and your mortgage would only be $1000/month you gotta jump at that.
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