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Dunit35 06-11-2007 08:45 PM
Quote:
Originally Posted by Bill Lundberg
Tiny

Thanks, it's a one bedroom for 400 in a nice neighborhood within two miles from our jobs.

Phobia 06-11-2007 08:46 PM
Quote:
Originally Posted by Dunit35
Thanks, it's a one bedroom for 400 in a nice neighborhood within two miles from our jobs.
Well, that certainly saves on fuel and it's reasonably priced. I don't know why you shouldn't look at it.

BWillie 06-11-2007 08:48 PM
Doesn't sound like you are settled or enough to buy a house, but renting is just throwing your money away. Yeah, I still do it, mainly because I'm lazy. But I'm going to buy a house in a year or so and just rent two rooms out. You can get a 200K to 250K house for 1K a month house payment if you can finance it right. I have the credit to do it, so I don't have any worries there. I figure there are going to be many times when I don't have the rooms rented out and not clearing any money per month but I could make it. Once you get two people in there for 450 a pop you basically are living almost for free.

Dunit35 06-11-2007 08:49 PM
Quote:
Originally Posted by Phobia
Well, that certainly saves on fuel and it's reasonably priced. I don't know why you shouldn't look at it.

We're going to tomorrow after she gets off work. I'm interested even though it's small. It's a duplex but has a nice sized backyard for our Husky.

ChiefFan31 06-11-2007 08:49 PM
Quote:
Originally Posted by Dunit35
Needing opinions.

Apartment or house, what would you do?

The fiance and I are looking for a place to live after our contract runs out next month. It seems that when we find a house we want in a good neighborhood the prices are from 600-800. Well I'd prefer to spend less then 600 so we can save money before we get married. We want a 2 bedroom house. We have a Siberian Husky, so she needs room to play.

Apartments are cheaper and could help us save money in the long run. But, our puppy won't have her own backyard. Apartments seem to range from 375-500 for a one bedroom and the bills are cheaper. The fiance wants a house and it doesn't bother me what we get. Put yourself in our shoes (college students, getting married next May, niether of us have the jobs we are working towards) what would you do?
Gawd damn that is cheap..both ways.

Just remember to look for apts who allow big dogs. More and more places won't allow it these days.

Bill Lundberg 06-11-2007 08:56 PM
Quote:
Originally Posted by BWillie007
Doesn't sound like you are settled or enough to buy a house, but renting is just throwing your money away. Yeah, I still do it, mainly because I'm lazy. But I'm going to buy a house in a year or so and just rent two rooms out. You can get a 250,000 house for 1K a month house payment. I have the credit to do it, so I don't have any worries there. I figure there are going to be many times when I don't have the rooms rented out and not clearing any money per month but I could make it. Once you get two people in there for 450 a pop you basically are living almost for free.

You are smoking straight crack rock if you think you can get a $250,000 house for $1000/mo. Don't believe everything you hear on the radio. The principle and interest payment on a 30 year fixed mortgage at todays rate of 6.75% will cost you $1621.49. Add another $300-$400 for taxes insurance etc. and your looking at $2000 easy

Phobia 06-11-2007 08:58 PM
Quote:
Originally Posted by Bill Lundberg
You are smoking straight crack rock if you think you can get a $250,000 house for $1000/mo. Don't believe everything you hear on the radio. The principle and interest payment on a 30 year fixed mortgage at todays rate of 6.75% will cost you $1621.49. Add another $300-$400 for taxes insurance etc. and your looking at $2000 easy
Heh. You beat me to it.

BWillie 06-11-2007 09:03 PM
Quote:
Originally Posted by Bill Lundberg
You are smoking straight crack rock if you think you can get a $250,000 house for $1000/mo. Don't believe everything you hear on the radio. The principle and interest payment on a 30 year fixed mortgage at todays rate of 6.75% will cost you $1621.49. Add another $300-$400 for taxes insurance etc. and your looking at $2000 easy
I dunno, my friend has a 207K house, he put 20K down and he pays 1095 a month. I have 17K in the bank right now that I'm saving up for a down payment in the future. That can't be done? Yeah the insurance and taxes will get ya but he did it pretty well with a credit rating of like 800 or so. Is he just blowing smoke?

Bill Lundberg 06-11-2007 09:07 PM
Quote:
Originally Posted by BWillie007
I dunno, my friend has a 207K house, he put 20K down and he pays 1095 a month. I have 17K in the bank right now that I'm saving up for a down payment in the future. That can't be done? Yeah the insurance and taxes will get ya but he did it pretty well with a credit rating of like 820 or so. Is he just blowing smoke?
Not necessarily, now your talking about a loan of $187K instead of $250K. Still odds are he's in an interest only loan with a payment that low. That or his taxes and insurance aren't included in his mortgage payment. People with down payments are rare these days, everyone wants to just borrow 100% of the agreed price and start making payments. You are smart for saving for a house, believe it or not it's become a thing of the past...

Payment Calculator

BWillie 06-11-2007 09:13 PM
Quote:
Originally Posted by Bill Lundberg
Not necessarily, now your talking about a loan of $187K instead of $250K. Still odds are he's in an interest only loan with a payment that low. That or his taxes and insurance aren't included in his mortgage payment. People with down payments are rare these days, everyone wants to just borrow 100% of the agreed price and start making payments. You are smart for saving for a house, believe it or not it's become a thing of the past...

Payment Calculator
Yeah, I really want to get a house and rent two rooms out. I like having roommates anyway, it's fun. I think I'm gonna start lower though at a small little 3 bedroom up in North Overland Park or something. My credit rating is about 770 or so last time I checked. I've been cheating the system since I was 18. I charged my college and financed my truck all through college and my dad just cut me a check every month to up my credit. So it looked like I was paying. I've tried to charge everything since I was 16 years old and I haven't ever paid any finance charges to this day, just pay it off at the end of the month.

el borracho 06-11-2007 09:33 PM
Forgive me if this has already been covered somewhere in the thread but why wouldn't you simply renew the contract where you are currently living?

Rain Man 06-11-2007 09:37 PM
Quote:
Originally Posted by BWillie007
I dunno, my friend has a 207K house, he put 20K down and he pays 1095 a month. I have 17K in the bank right now that I'm saving up for a down payment in the future. That can't be done? Yeah the insurance and taxes will get ya but he did it pretty well with a credit rating of like 800 or so. Is he just blowing smoke?
That still seems very low. Back when I had a mortgage in the $170s, my payment was still $1,600*, and I had a pretty good interest rate. I wonder if he's got an ARM or some sort of teaser rate.


* - Including taxes and insurance, and granted your taxes may be lower.

Dunit35 06-11-2007 09:48 PM
Quote:
Originally Posted by el borracho
Forgive me if this has already been covered somewhere in the thread but why wouldn't you simply renew the contract where you are currently living?

We live with a roomate, she's an idiot and extremely lazy and we want to be closer to our jobs.

BWillie 06-11-2007 11:46 PM
Quote:
Originally Posted by Dunit35
We live with a roomate, she's an idiot and extremely lazy and we want to be closer to our jobs.
Just buy a large constrictor snake, an aquarium with out a top, and a nice vacation package for a weeks stay to anywhere outside of your house.

Iowanian 06-12-2007 08:04 AM
Quote:
Originally Posted by BWillie007
. You can get a 200K to 250K house for 1K a month house payment if you can finance it right. I have the credit to do it, so I don't have any worries there.
BUUUUUUUUUUULL SHIIIIIIIIIIIIIIIIIIIIIIT! I call Shenanigans.

You're a crackhead if you think you can finance a 200k house for 1k/month.


It turns out that I just sold my home and am looking into financing and housing in another area now.

Unless you're putting 100k down....you're speaking from your anus.

a 30 year note, with 10-15% down, with the current interest rates around 6.6(don't forget the 3k in closing costs) your payment would be around a grand. (don't forget your taxes and the mortgage insurance they'll sell you on your first home).


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