House purchasing

[PHFIRENO7783]

I was 22 when I bought my house, im 24 now. My house was listed for $103K. I went to look at it on July 4 2005, I really liked it but waited a bit to put a bid in. By the time I put a bid in the house was down to $95K. The guy didnt even respond to my first bid, so I left the house alone for two months. I put a second bid in about the middle of August and by the last week of august the owner excepted the offer of $86,900. Thats a bid difference what what the house first started out at. We didnt close till Sept. 9 2005. My morgage payments are $571.10 a month, only because I put $30K down on the house. it's in my name and my name only. Not to bad for a 24 year old landscaper.

[burntire]

What ever you do don't get into a stupid mortgage. Like an adjustable or interest only. Your better off with a fixed rate.

[Viper_ed]

im kicking idea around, i might want ot buy a house for my next bday and want a good feel from ppl

Just make sure you buy one with French Doors so your head can fit in and out of the house when you're watching re-runs of Pinks!

[Rodeheaver's]

19 years old
80,000 $
5,000$ car parts
30years
no
no
1000$
renting is like spiting in the wind...my0.02$

[somethingclever]

Just make sure you buy one with French Doors so your head can fit in and out of the house when you're watching re-runs of Pinks!

LOL...now THAT was good.

[lib88stang]

Just make sure you buy one with French Doors so your head can fit in and out of the house when you're watching re-runs of Pinks!

and cathedral ceilings

[fx-man]

My suggestions:
Do NOT go with a 30 yr loan. You will get absolutely reamed in interest costs!!!
Good luck!

Actually if the rates are similar you should consider going for the 30yr note but making the bigger payments as if it was a 15yr note. That way you will still pay it off in 15 if you make the bigger payments but if you need xtra cash you can drop back to the 30yr payment. Of course this method does take some discipline.

[sutyak]

Actually if the rates are similar you should consider going for the 30yr note but making the bigger payments as if it was a 15yr note. That way you will still pay it off in 15 if you make the bigger payments but if you need xtra cash you can drop back to the 30yr payment. Of course this method does take some discipline.

Yes, I think most people enter a 30 yr loan with that mindset, but very very few pay additional on it.
I don't disagree, it's just that a 15 yr is a "forced" discipline. :)