11-06-2003
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#21
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Tournaments Won: 3
Join Date: Oct 2003
Location: Maple Grove, MN
Drives: Lancer and Durango
Posts: 7,017
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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.
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Scientific theories are the most reliable, rigorous, and comprehensive form of scientific knowledge. This is significantly different from the common usage of the word "theory", which implies that something is a conjecture, hypothesis, or guess.
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11-06-2003
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#22
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Join Date: Aug 2003
Location: Blaine
Posts: 2,789
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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!!!
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11-06-2003
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#23
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Shit Rocket Pilot
Join Date: Oct 2003
Location: Shoreview, MN
Drives: 2003 Evolution VIII
Posts: 7,752
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If he had a down payment his interest would be lower.
__________________
"If everything seems under control, you're just not going fast enough." -Mario Andretti
03 Mitsubishi Lancer Evolution VIII
Quote:
Originally Posted by Tachyon
Every minute you spend in your Evo, not in boost, is a minute of your life you'll never get back.
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11-06-2003
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#24
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Tournaments Won: 3
Join Date: Oct 2003
Location: Maple Grove, MN
Drives: Lancer and Durango
Posts: 7,017
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Quote:
Originally posted by Enes@Nov 6 2003, 12:05 AM
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!!!
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ha ha ha ha you approve...
good logic though :cheers:
__________________
Scientific theories are the most reliable, rigorous, and comprehensive form of scientific knowledge. This is significantly different from the common usage of the word "theory", which implies that something is a conjecture, hypothesis, or guess.
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11-06-2003
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#25
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Mazda Bitch
Join Date: Oct 2003
Location: MN
Posts: 3,208
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True, True...
What interest rate are you at?
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11-06-2003
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#26
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Asshat King
Join Date: Oct 2003
Location: Decorah / Ames, Iowa
Posts: 3,683
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How long of a mortgage you looking at, 30 year?
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DSMSTYLE MAFIA - Holdin' Down the Cornfields of IA
'92 Laser RS AWD & '01 Grand Prix GTP
Proud to be a Cyclone
Check it out: Racers Against Street Racing |
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11-06-2003
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#27
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Tournaments Won: 3
Join Date: Oct 2003
Location: Maple Grove, MN
Drives: Lancer and Durango
Posts: 7,017
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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)
__________________
Scientific theories are the most reliable, rigorous, and comprehensive form of scientific knowledge. This is significantly different from the common usage of the word "theory", which implies that something is a conjecture, hypothesis, or guess.
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11-06-2003
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#28
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Mazda Bitch
Join Date: Oct 2003
Location: MN
Posts: 3,208
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Quote:
Originally posted by tpunx99GSX@Nov 6 2003, 01:23 PM
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)
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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!!!  |
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11-06-2003
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#29
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Join Date: Aug 2003
Location: Blaine
Posts: 2,789
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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
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11-06-2003
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#30
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Tournaments Won: 3
Join Date: Oct 2003
Location: Maple Grove, MN
Drives: Lancer and Durango
Posts: 7,017
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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.
__________________
Scientific theories are the most reliable, rigorous, and comprehensive form of scientific knowledge. This is significantly different from the common usage of the word "theory", which implies that something is a conjecture, hypothesis, or guess.
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11-06-2003
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#31
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Shit Rocket Pilot
Join Date: Oct 2003
Location: Shoreview, MN
Drives: 2003 Evolution VIII
Posts: 7,752
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See, Tom's a baller. There's no reason his hooptie shouldn't have mods aside from a half-assed b-kit. :woowoo:
__________________
"If everything seems under control, you're just not going fast enough." -Mario Andretti
03 Mitsubishi Lancer Evolution VIII
Quote:
Originally Posted by Tachyon
Every minute you spend in your Evo, not in boost, is a minute of your life you'll never get back.
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11-06-2003
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#32
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Join Date: Aug 2003
Location: Blaine
Posts: 2,789
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Quote:
Originally posted by tpunx99GSX@Nov 6 2003, 03:18 PM
i make $2400 a month without OT.
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before taxes or after taxes......
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11-06-2003
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#33
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Join Date: Oct 2003
Location: Chattanooga TN
Posts: 630
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uhh 30 year loan... with 800 bucks a month.... that just doesn't seem to add up at all.
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EVO 7 owner to C5 owner: You go ahead.... I'll catch up.
Slow is better than broke.... but broke is better than nothing.
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11-06-2003
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#34
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Shit Rocket Pilot
Join Date: Oct 2003
Location: Shoreview, MN
Drives: 2003 Evolution VIII
Posts: 7,752
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Quote:
Originally posted by BuildADSM@Nov 6 2003, 06:06 PM
uhh 30 year loan... with 800 bucks a month.... that just doesn't seem to add up at all.
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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.
__________________
"If everything seems under control, you're just not going fast enough." -Mario Andretti
03 Mitsubishi Lancer Evolution VIII
Quote:
Originally Posted by Tachyon
Every minute you spend in your Evo, not in boost, is a minute of your life you'll never get back.
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11-06-2003
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#36
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Mazda Bitch
Join Date: Oct 2003
Location: MN
Posts: 3,208
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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).
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11-06-2003
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#37
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Join Date: Oct 2003
Location: Chattanooga TN
Posts: 630
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Quote:
Originally posted by Matt D.+Nov 6 2003, 07:23 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Matt D. @ Nov 6 2003, 07:23 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-BuildADSM@Nov 6 2003, 06:06 PM
uhh 30 year loan... with 800 bucks a month.... that just doesn't seem to add up at all.
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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?
__________________
EVO 7 owner to C5 owner: You go ahead.... I'll catch up.
Slow is better than broke.... but broke is better than nothing.
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11-06-2003
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#38
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Mazda Bitch
Join Date: Oct 2003
Location: MN
Posts: 3,208
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Quote:
Originally posted by Matt D.+Nov 6 2003, 07:23 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Matt D. @ Nov 6 2003, 07:23 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-BuildADSM@Nov 6 2003, 06:06 PM
uhh 30 year loan... with 800 bucks a month.... that just doesn't seem to add up at all.
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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. |
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11-06-2003
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#39
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Join Date: Oct 2003
Location: Chattanooga TN
Posts: 630
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wait that does include the 130k that he borrowed or does he pay that on top of the 200k?
__________________
EVO 7 owner to C5 owner: You go ahead.... I'll catch up.
Slow is better than broke.... but broke is better than nothing.
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11-06-2003
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#40
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Mazda Bitch
Join Date: Oct 2003
Location: MN
Posts: 3,208
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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. |
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