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  • Biff been having sex.

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    • Originally posted by Stan
      Y'all help me out here. Guy I work with was trying to buy a house for 125k at 5% interest. 3.5% down if I remember correctly. Went through the process very fast and the contract said his payment would be $1150 for 30 years (yes 30). How is that possible? He said the realtor told him it was probably taxes. He obviously backed out because he said it felt shady. I told him that sounded like a 225k house payment. WTF is up with all that?
      I did very similar numbers several years ago and my payment (including insurance and taxes of course) was south of $800.

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      • Originally posted by BillBrosky View Post

        Sea lice is the jelly fish larva. Purple flags yesterday but green today.
        I can live with that. Nothing new there. I'm ready for some pomps!

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        • Originally posted by Stan View Post
          Y'all help me out here. Guy I work with was trying to buy a house for 125k at 5% interest. 3.5% down if I remember correctly. Went through the process very fast and the contract said his payment would be $1150 for 30 years (yes 30). How is that possible? He said the realtor told him it was probably taxes. He obviously backed out because he said it felt shady. I told him that sounded like a 225k house payment. WTF is up with all that?
          Anything less than 20% down requires PMI (private mortgage insurance). This is probably responsible for 150 per month of that payment

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          • Originally posted by Pinche Cabron View Post

            Anything less than 20% down requires PMI (private mortgage insurance). This is probably responsible for 150 per month of that payment
            This is correct but doesn't make up the difference in that ridiculous payment.
            barney_stinson_signature_by_schub3rt.jpg

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            • Originally posted by Barney Stinson View Post

              This is correct but doesn't make up the difference in that ridiculous payment.
              I was wrong about the PMI amount. More like 50 per month. Payment should be 953.00 per month with the info given and average taxes, home owners insurance, and pmi included

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              • https://www.mortgagecalculator.org/

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                • Originally posted by Stan
                  Y'all help me out here. Guy I work with was trying to buy a house for 125k at 5% interest. 3.5% down if I remember correctly. Went through the process very fast and the contract said his payment would be $1150 for 30 years (yes 30). How is that possible? He said the realtor told him it was probably taxes. He obviously backed out because he said it felt shady. I told him that sounded like a 225k house payment. WTF is up with all that?
                  High risk FHA borrower

                  Sent from my SM-G950U using Tapatalk

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                  • We've good a good bit of equity in our house. Bout to sell this bitch buy me some vehicles. Screw reasonable thinking. I'm tired of living a boring practical life.
                    I bet I can sleep in the F150

                    Sent from my SM-G950U using Tapatalk

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                    • Originally posted by Biff View Post
                      We've good a good bit of equity in our house. Bout to sell this bitch buy me some vehicles. Screw reasonable thinking. I'm tired of living a boring practical life.
                      I bet I can sleep in the F150

                      Sent from my SM-G950U using Tapatalk
                      Get you a big check and take a kickass vacation.
                      barney_stinson_signature_by_schub3rt.jpg

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                      • Originally posted by Stan View Post
                        Y'all help me out here. Guy I work with was trying to buy a house for 125k at 5% interest. 3.5% down if I remember correctly. Went through the process very fast and the contract said his payment would be $1150 for 30 years (yes 30). How is that possible? He said the realtor told him it was probably taxes. He obviously backed out because he said it felt shady. I told him that sounded like a 225k house payment. WTF is up with all that?
                        P&I are just $644.85. If taxes and insurance combined are $6,000 a year, and the disclosed payment includes an escrow for taxes and insurance, then that would be about right. Otherwise, something is wrong.

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                        • Originally posted by It Takes Eleven View Post

                          P&I are just $644.85. If taxes and insurance combined are $6,000 a year, and the disclosed payment includes an escrow for taxes and insurance, then that would be about right. Otherwise, something is wrong.
                          Taxes were $2000 if I remember correctly. I asked him if he was sure of the price. Pretty nice house, concrete, and asphalt driveway, 5 car garage, probably 1800 sq ft. from the looks of the pictures.

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                          • Originally posted by It Takes Eleven View Post

                            P&I are just $644.85. If taxes and insurance combined are $6,000 a year, and the disclosed payment includes an escrow for taxes and insurance, then that would be about right. Otherwise, something is wrong.
                            The PMI and escrow are likely the culprits. Why didn't he ask the lender for the breakdown instead of the realtor?

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                            • Originally posted by Big Balls View Post

                              The PMI and escrow are likely the culprits. Why didn't he ask the lender for the breakdown instead of the realtor?
                              Because he has never bought a house before and doesn't know what to do. Plus his wife is leaving him for another woman, so he probably isn't thinking straight. He said he got a bad feeling because it was a great deal that was hurried through. Said he saw the house, approved, and a contract in front of him all on Monday. That sounds impossible

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                              • Originally posted by Stan View Post

                                Because he has never bought a house before and doesn't know what to do. Plus his wife is leaving him for another woman, so he probably isn't thinking straight. He said he got a bad feeling because it was a great deal that was hurried through. Said he saw the house, approved, and a contract in front of him all on Monday. That sounds impossible
                                ......and you think you've got it bad. Wait......this is really you, isn't it Stan?

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