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re: First time homebuyer
Posted on 12/7/17 at 9:56 am to lsupride87
Posted on 12/7/17 at 9:56 am to lsupride87
Yeah in that time that you are trying to save to 20%, you're spending a lot more on rent. So where would you rather waste the money? On rent or in PMI/interest?
ETA: I do get the idea of 20%, though. But it's more to the tune of not living above your means. That's the biggest problem many have.
ETA: I do get the idea of 20%, though. But it's more to the tune of not living above your means. That's the biggest problem many have.
This post was edited on 12/7/17 at 9:57 am
Posted on 12/7/17 at 9:57 am to Brageous
quote:He just tried to make a typical post of "millennials are ruining the world by being spoiled" post
Yeah in that time that you are trying to save to 20%, you're spending a lot more on rent. So where would you rather waste the money? On rent or in PMI/interest?
Posted on 12/7/17 at 12:04 pm to Brageous
quote:
Yeah in that time that you are trying to save to 20%, you're spending a lot more on rent. So where would you rather waste the money? On rent or in PMI/interest?
ETA: I do get the idea of 20%, though. But it's more to the tune of not living above your means. That's the biggest problem many have.
Agreed. I think both of those guys are actually correct.
Yes, people are getting too much house with too much leverage (ie: we collectively didn’t learn squat 10 years ago)....but, people need to evaluate their own financial situations and make the right choice for themselves. That might mean grabbing that FHA loan and putting down 3.5% today as opposed to waiting years, particularly in this interest rate and housing environment.
This post was edited on 12/7/17 at 12:05 pm
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