Re: WELCOME ALL RECENT HIGH SCHOOL GRADUATES TO THE REALITY OF TWO THOUSAND DOLLAR A MONTH RENTS AND MEDIAN 400K HOME PRICES!
Posted by:
loan officer
()
Date: June 20, 2015 11:26AM
dumb Wrote:
-------------------------------------------------------
> Loan officer Wrote:
> --------------------------------------------------
> -----
> > mmath Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > loan officer Wrote:
> > >
> >
> --------------------------------------------------
>
> >
> > > -----
> > > > mk Wrote:
> > > >
> > >
> >
> --------------------------------------------------
>
> >
> > >
> > > > -----
> > > > > loan officer Wrote:
> > > > >
> > > >
> > >
> >
> --------------------------------------------------
>
> >
> > >
> > > >
> > > > > -----
> > > > > > math Wrote:
> > > > > >
> > > > >
> > > >
> > >
> >
> --------------------------------------------------
>
> >
> > >
> > > >
> > > > >
> > > > > > -----
> > > > > > > can anyone do math?
> > > > > > >
> > > > > > > $400K means $80K down means you need
> to
> > > > save
> > > > > > $1K
> > > > > > > for 80 months or almost 7 years for
> the
> > > > > > > downpayment
> > > > > > >
> > > > > > >
> > > > > > > $80K down means $320K loan which
> means
> > > you
> > > > > need
> > > > > > a
> > > > > > > $100K salary to qualify and your
> > mortgage
> > > > > plus
> > > > > > bs
> > > > > > > will be about $3K a month
> > > > > >
> > > > > > Most people spend like niggas and don't
> > > even
> > > > > put
> > > > > > 5% down.
> > > > > >
> > > > > > 3.5% is all you need, granted you will
> be
> > > > > paying
> > > > > > PMI every month. So thats $14,000 down
> on
> > a
> > > > > $400k
> > > > > > house or about $20k after closing
> costs.
> > > Yet
> > > > > > people who make $100k+ a year struggle
> > and
> > > > > > struggle save $20k because they spend
> > like
> > > > > crazy.
> > > > > >
> > > > > > Even further, if you are a first time
> > home
> > > > > buyer
> > > > > > not earning a lot, there are grants
> that
> > > pay
> > > > 3%
> > > > > of
> > > > > > the down payment, so you only need to
> > bring
> > > a
> > > > > > whopping .5% down.
> > > > >
> > > > >
> > > > > 14K down on a 400K house means you
> finance
> > > 386K.
> > > >
> > > > > you need a big income to pay that monthly
> > > > > mortgage.
> > > >
> > > > Taxes($4,000/year), insurance, principal,
> > > interest
> > > > (4%), and PMI would be about $2,400~ per
> > month.
> > > A
> > > > big income is not needed, about $100k or
> > between
> > > a
> > > > couple $50k each, which is a peasants
> salary.
> >
> > > >
> > > > Realistically though, someone graduating
> high
> > > > school would be renting a room or sharing
> an
> > > > apartment. So a $400k home is irrelevant.
> > >
> > >
> > > you dumbasses need a personal finance class!
> > no
> > > one is giving you a jumbo loan for 386K
> unless
> > you
> > > make a big salary and have a bank account.
> if
> > you
> > > do find a chump to give you a loan, the
> > interest
> > > rate will be high.
> >
> > Hey dumbfuck, $386k is no where near being a
> jumbo
> > loan. If your credit is fair, you have made
> more
> > than $80k a year for the past 2 years, have no
> > other major debt and have $25k in the bank you
> can
> > get an FHA loan at a reasonable rate for $386k,
> > though you will be paying PMI.
>
>
> you're the dumbfuck, the topic was about a HS grad
> buying a $400K house. very few recent grads make
> $80K a year for 2 years and even fewer can save a
> downpayment while paying rent. jerkoff loan
> officers of past convinced people they could
> afford ridiculous mortgages which is why there
> were so many foreclosures when the economy
> crashed. new college grads cannot afford a cell
> phone payment and will never buy a house even with
> no student loan payments. get your head out of
> your ass and see the reality.
Get your money up, son. Maybe you will get some pussy and be happier.
Read my previous post slower this time,
"Realistically though, someone graduating high school would be renting a room or sharing an apartment. So a $400k home is irrelevant."