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Posted on 6/27/11 at 9:57 am to Salmon
I didn't even know you could do that. I don't pay pmi but I asked out of curiosity and they told me it would be $200 a month on my house.
Posted on 6/27/11 at 9:59 am to yellowfin
If we didn't finance into the loan, it was going to be about $180/month, but it would eventually go away after 10 years.
If you finance it, it will last the duration of your loan, but it is much, much less obviously.
If you finance it, it will last the duration of your loan, but it is much, much less obviously.
Posted on 6/27/11 at 9:59 am to Salmon
quote:
But I put down 5%, so we financed the PMI into the mortgage
did you do the math on that? Seems like you're losing money in the long run by doing it that way
Posted on 6/27/11 at 10:00 am to yellowfin
my PMI is around $80/month on a $200,000 house
can't wait to get that loan down to 80% of value so i don't have to pay that crap anymore
can't wait to get that loan down to 80% of value so i don't have to pay that crap anymore
Posted on 6/27/11 at 10:01 am to Salmon
quote:
but it would eventually go away after 10 years.
Not true..
I put down 10% on the first house I bought, paid PMI for the first 2 years, then had the house re-appraised and had enough equity that I was able to drop the PMI after 2 years.
Posted on 6/27/11 at 10:25 am to Springlake Tiger
quote:
ok, then just throw away money on pmi
There are so many ways of getting around PMI. FHA, Bond Money, Down Payment Assistance subsidies, Rural Development.
If you go conventional financing, then you sould qualify for some sort've financing that will help you avoid paying MI.
...and throwing $35K down on a house so you can avoid MI is pretty stupid, if you ask me.
Posted on 6/27/11 at 10:29 am to GFunk
quote:
If you go conventional financing, then you sould qualify for some sort've financing that will help you avoid paying MI.
What is conventional financing?
And how do I find the PMI in say Gonzales?
Posted on 6/27/11 at 10:32 am to tigerchick555
Are you using a real estate agent? They should be able to recommend a mortgage company that will be able to explain everything to you
Posted on 6/27/11 at 10:43 am to yellowfin
Lol...can you tell I am getting more and more confused, lol.
I have talked to several agents, but nothing serious...just started looking. I can do probably $1500 a month, so I am trying to figure out how much of a house note that may be. I just need to call someone for pre-approval and they can give me the total but was just seeing before I did that bc they do a small hit to your credit when they check it and I heard your credit drops when it's checked. We saw a house for $265000 I really liked. Saw it online and went rode by the house. I probably would offer less of course, but just seeing where I stood with a note for that amount.
I have talked to several agents, but nothing serious...just started looking. I can do probably $1500 a month, so I am trying to figure out how much of a house note that may be. I just need to call someone for pre-approval and they can give me the total but was just seeing before I did that bc they do a small hit to your credit when they check it and I heard your credit drops when it's checked. We saw a house for $265000 I really liked. Saw it online and went rode by the house. I probably would offer less of course, but just seeing where I stood with a note for that amount.
Posted on 6/27/11 at 10:53 am to tigerchick555
Probably looking in the 220k range if you want to stay under $1,500 a month with tax, insurance, etc included
Posted on 6/27/11 at 11:02 am to yellowfin
Thanks Fin...you think I can talk them down from $265000 to $220000...LOL!!!!!
We could do a $2500 house note if my hubby didn't have child support to pay!!
We could do a $2500 house note if my hubby didn't have child support to pay!!
Posted on 6/27/11 at 11:18 am to Springlake Tiger
This
and this
quote:
search mortgage calculator
and this
quote:
you shouldn't be getting a house unless you can put 20% down.
Posted on 6/27/11 at 11:30 am to ATXTiger1
quote:
search mortgage calculator
This ask for the property tax and ins and I don't know that amount yet...so therefore was asking if anyone else had a house around that amount and how much their payment was per month.
quote:
you shouldn't be getting a house unless you can put 20% down
I don't know many people who put 20% down when they purchase a house. I was planning on saving till January, but found one this weekend I really like.
Posted on 6/27/11 at 12:04 pm to tigerchick555
Posted on 6/27/11 at 12:11 pm to yellowfin
Wow...thanks Fin!
Which one am I looking for?
Tax Type Mills? Taxpayer Tax? Homestead Tax?
Homestead??
Which one am I looking for?
Tax Type Mills? Taxpayer Tax? Homestead Tax?
Homestead??
Posted on 6/27/11 at 12:58 pm to tigerchick555
you will be paying a little more than 2k in prop tax, plus about that much more for prop insurance... so that is about 400/month, plus PMI which seems to be about 175-200/month plus your monthly note of about 1400 so your total should be close to 2000/month
Posted on 6/27/11 at 1:00 pm to Tigerpaw123
as for the comment on child support 
, if he did the deed he pays the price, ia m sure you would of had a different view if you were on the receiving end
, if he did the deed he pays the price, ia m sure you would of had a different view if you were on the receiving endPosted on 6/27/11 at 1:04 pm to userdon88
Thanks Don...what about $245,000?
I don't think my property tax will be that much, but I am not certain!
I don't think my property tax will be that much, but I am not certain!
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