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re: Is it always best to put 20% down on a house to avoid PMI?
Posted on 11/18/20 at 9:34 pm to TigerintheNO
Posted on 11/18/20 at 9:34 pm to TigerintheNO
quote:woah. Let's not just skip over this
I think this might be the account of the guy who was cheating on his pregnant wife and got caught. Whatever happened he deleted over 70K post and rumors where is paid a teenager to take over his account.
1
Posted on 11/18/20 at 9:36 pm to pioneerbasketball
This may be the most interesting MB thread to date 
Posted on 11/18/20 at 9:40 pm to KamaCausey_LSU
quote:
Becoming a homeowner at 22 is no small feat.
Ty
Helps that I have stayed single 
Posted on 11/18/20 at 9:41 pm to meansonny
Plan is to stay in the house for 5-8ish years.
Obviously, there are many variables in play.
Obviously, there are many variables in play.
Posted on 11/18/20 at 9:45 pm to pioneerbasketball
Can you address the pertinent questions here please?
Posted on 11/18/20 at 11:39 pm to pioneerbasketball
You started posting on TD at age 7? Damn.
Posted on 11/19/20 at 8:09 am to pioneerbasketball
Posted on 11/19/20 at 8:19 am to pioneerbasketball
If you can financially afford to put 20% down to avoid it, do it. Otherwise, you're literally paying for the bank's insurance on your loan...
If it's going to really strain you to put 20% down, then it may not be worth it.
If it's going to really strain you to put 20% down, then it may not be worth it.
Posted on 11/19/20 at 8:24 am to pioneerbasketball
quote:
I'm 22 years old
quote:
Registered on: 10/24/2005
Posted on 11/19/20 at 9:55 am to castorinho
He was hiding from somebody
I couldn't find the other thread, but either a pregnant wife, aliens, conspiracy theorist... he got spooked.
I couldn't find the other thread, but either a pregnant wife, aliens, conspiracy theorist... he got spooked.
Posted on 11/19/20 at 10:24 am to PropofoLSU
quote:
For example, while the gentlemen above “made 80k” on his sale he is neglecting to take into account the amoritization of front loaded interest he paid as his loan wasn’t 2.8%
It doesn't matter, he still made 80k.
It's pretty easy with PMI, do the math of what a reasonable return on that capital will get you in another investment vs. the cost of the pmi.
Posted on 11/19/20 at 11:27 am to barry
It is amazing that almost everyone on TD has figured out how to outsmart the market. No one here has ever lost $.
Posted on 11/19/20 at 11:38 am to BHS78
We literally have a thread titled
on the first page of this board.
quote:
What's your biggest miss / mistake in 2020?
on the first page of this board.
Posted on 11/19/20 at 12:05 pm to TigerintheNO
quote:
paid a teenager to take over his account.
Why pay someone take your account when you can disappear for free?
Posted on 11/19/20 at 12:51 pm to pioneerbasketball
quote:
Plan is to stay in the house for 5-8ish years.
Obviously, there are many variables in play.
If you are like most americans, you wont have the mortgage much over 5 years.
Putting 10% down gets you a "good enough" mortgage and you can invest the rest.
Or... look at a fixer upper/foreclosure and put as little down as possible and use the rest to appreciate the home and make a killing when you resell.
Posted on 11/19/20 at 12:54 pm to pioneerbasketball
No point in putting 20 down. If you want to avoid the insurance pay it off as you go along
Posted on 11/19/20 at 12:56 pm to SDVTiger
Get to 85-90% loan to value and ask them to quote you for borrower-paid PMI. Can likely get rid of the PMI for less than the extra down payment, while keeping a little more cash. Best of both words.
Posted on 11/19/20 at 1:24 pm to pioneerbasketball
Wait for Biden isn't he going to give credit for first time house buyers
Posted on 11/19/20 at 1:28 pm to thelawnwranglers
15k wasn’t it? I done fricked up baw
This post was edited on 11/19/20 at 1:30 pm
Posted on 11/19/20 at 2:29 pm to jimbeam
quote:
Ok and if I rented during that same time period, I would've spent 80k with no return.
You do realize all the money you spent on interest, maintenance, transactions, etc could have been put into a different investment vehicle while you rented and made a return, right?
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