:banana: :banana: today i got approved for $130K for a house!!!!
Im going to look at a nice townhouse tomarrow in oakdale, its 150K but im gonna see if the realitor will meet me halfway, then let the partys start WOO HOO. lol
By xmas ill have a new home!!!!
Tom :toast: :toast: :toast:

Congrats!!!

Oakdale. Make sure you get a place close to the bars!

i think it is actually is. :cheers: its just off of 15th street, which is near shooters (?) or whatever the pool hall is.... Im thinking a huge dsmstyle house warming party will have to happen (that is if i get this one)

Just out of curiosity what are the mortgage interest rates at now? Do you have a link to an online listing so we can see what you're looking at? ;)

Oh, if you can afford this house, you can afford to pay AJ that $30 you owe him. ;)

tom how old are you? I was under the impression that you were like collage age about.

I believe that Tom is 21.

I believe that Tom is 21. [/b][/quote]
damn! and buying a house..... I am guessing that you arn't /didn't go to collage....still damn being able to buy a house at 21 congrats :banana: :banana:

im 21, i currently go to college, i have a car payment, and i work at night, and i still owe aj the 30 bucks, its coming aj dont worry.

I too am college-aged and have a house (21, got when 20). It's easy to make the mortage payment, just get some roomies to rent from ya.

Congrats. Looks like you're heading down the right road. Me, I was like... mmmmmmm credit cards.... mmmmmmmmm... I can own more than one car... mmmmmmmm... motorcycles... etc. I'm not saying that you can't have those things and buy a house, but they definitely hurt more than they help. Sure building credit is good, but too much fun stuff, and all of a sudden a house it out of the question. BTW, I'll give you this bit of advice. If you haven't started some kind of retirement account, then now is the time to do it. Even if you put a small amount in now into a 401k or IRA, you wouldn't believe how much it will help. Now is the time to do it, while time is on your side. If you put in $1,000 today, and did nothing else for the next 44 years, at 8% interest (which is realistic in the long term) you would have around $29,500!!! Of course you should put in more than that over time. TRUST me, it helps. If I Stopped putting money in my account today, I could retire at age 65 with half a million dollars. And I've only been putting money in for 3 years. As it is, I plan on retireing with well over a million.

Holy shit!!! I think I was just preaching. Sorry if it sounds like that, but I'm just making a point about investing. Anyway, congrats again on the house, that's a great investment. :bowdown"


Party at Tom's whenever he moves in. :banana:

Didnt your parental units help out on that one? :stick:

good job reverse boy... next time maybe you could contract someone to put your shifter in drive instead of reverse :)

They helped with the downpayment on the house, which they are getting paid back to them through-out the year.

Did either of you (Tom or Chris) have parents that are co-signing? or just helping with downpayment?

I am just trying to understand how you (Tom) are approved for the same as me, and I have assests (savings, stocks, mutual funds, etc), very little debt when I bought, and probably make more than you.... :(

Oh well, either way......owning is awesome and deserves a pat on the back!!

My Dad cosigned for me.

Best thing about Oakdale is Damon's... Best damn sports bar ever!

Next to Joe Senser's, of course...

neither, i have a loan approved on my credit alone and its accepted for no down payment.

So you had trouble getting a credit card, but no problems with a house? That's f*d up. lol

Just don't limit yourself to a certain area, I'm not sure if you are looking at existing or new, but keep your mind open. You may want to be closer to certain things, but will end up with a better house elsewhere....you know? :D Good luck on the search!!!

the realitor said the same thing, are you holding him hostage.... lol
i had problems getting a credit card because i didnt have my car payment for very long and i wasnt making shit at my job, but after my $5 raise i have no more problems
woo hoo
Jester.

Here is the deal... it is harder to get a cc than a loan...

logic behind it...

If you get a loan for a house.. bank has something to take away if you don't make payments, sell it and still probably make money..

however for the cc there isn't much they can do.. you don't own your car yet.. you don't have any equity they can go for, all they can do is take away points from your credit rating and these days there are more people that don't care about that than the one's that do...

good logic behind it and i aprove of it!!!

If he had a down payment his interest would be lower.

ha ha ha ha you approve...

good logic though :cheers:

True, True...

What interest rate are you at?

How long of a mortgage you looking at, 30 year?

30 year, 7.5 for 2 years and after that variable (but i wont be in this house (or this state) for that long so oh well)

7.5! WTF?

Rates are way lower than that right now. You do realize what kind of payment you are looking at, don't you? If you make that much more money than me, then treat us all to Benihana's!!! :D

rates these days aren't as they used to be. i have two loans..one on 15 year house loan and i'm getting 5.75 and on my business loan 30 year i'm getting like 6.9 which is super nice for a business loan..

So yeah i'd say for 7.5 is a bit high especially since its going to be variable after the 2 years!!! .. but it all comes down to what you think, if you think you got a good deal.. then it is all good!!

-enes

the reason i have that rate is because i have a credit score of 628 and i have my car payment and im a first time homebuyer, not to mencion that i have no down payment... he told me what the payment would be and its around $800, jana i make $2400 a month without OT.

See, Tom's a baller. There's no reason his hooptie shouldn't have mods aside from a half-assed b-kit. :woowoo:

before taxes or after taxes......

uhh 30 year loan... with 800 bucks a month.... that just doesn't seem to add up at all.

For $130k over 30 years at 7.5 annual percentage rate the monthly payment would be $908.98. The total interest costs would be $197,231.27.

Dont you love interest :toast:

Yeah, cuz I'm at 6.5% on a 30 year Fixed and mine is $945. Then I have my association due on top of that.

I'm a first time homebuyer, but had a downpayment (minimum, but it helps).

For $130k over 30 years at 7.5 annual percentage rate the monthly payment would be $908.98. The total interest costs would be $197,231.27. [/b][/quote]
that sounds a bit better.

also tom wtf is up with the jester thing?

For $130k over 30 years at 7.5 annual percentage rate the monthly payment would be $908.98. The total interest costs would be $197,231.27. [/b][/quote]
That's just the base, then top that off with you PMI, Mortgage Insurance (another $100) if you don't put 20% down....You're looking at a payment closer to $1K.

wait that does include the 130k that he borrowed or does he pay that on top of the 200k?

The $197K is what you would end up paying at the end of 30 years (which I don't think is correct...it would be more). I think that's right anyway. I'd have to get my papers out to be for sure...and I'm too lazy tonight to do that. :D