Advice on buying a million dolloar house, please

[desmond]

[quote=njtosd][quote=desmond]Not for stupid comments? I have been here for at least 5 years….[/quote]

I don’t think that insulates you from any criticism. Or, if it does, how long do you have to be here before your comments are indisputably not stupid?[/quote]

I have been making stupid comments for 5 years, now do you get it? or do you need another stupid comment?

[masayako]

The quality of responses from Piggingtons’ forum members are pretty high, let’s not ruin it here, okay Desmond?

[masayako]

The quality of responses from Piggingtons’ forum members are pretty high, let’s not ruin it here, okay Desmond?

[masayako]

The quality of responses from Piggingtons’ forum members are pretty high, let’s not ruin it here, okay Desmond?

[masayako]

The quality of responses from Piggingtons’ forum members are pretty high, let’s not ruin it here, okay Desmond?

[masayako]

The quality of responses from Piggingtons’ forum members are pretty high, let’s not ruin it here, okay Desmond?

[socrattt]

Masayako, although few have discussed it here, you are borrowing today’s money at tomorrow’s prices. With hyper inflation on the horizon you are certainly in a better position putting less money down especially with the current rate of return on your current investments. I have been telling my clients to put as little down as possible if they have the ability to park that money elsewhere with a better return. I have two clients in escrow doing just that. Rental properties in areas like Temecula/Murrieta are still very solid investments.

4.5% is free money in my opinion. I think I even saw rates touch 4 3/8% today. Follow your own instincts and good luck with your purchase.

[socrattt]

Masayako, although few have discussed it here, you are borrowing today’s money at tomorrow’s prices. With hyper inflation on the horizon you are certainly in a better position putting less money down especially with the current rate of return on your current investments. I have been telling my clients to put as little down as possible if they have the ability to park that money elsewhere with a better return. I have two clients in escrow doing just that. Rental properties in areas like Temecula/Murrieta are still very solid investments.

4.5% is free money in my opinion. I think I even saw rates touch 4 3/8% today. Follow your own instincts and good luck with your purchase.

[socrattt]

Masayako, although few have discussed it here, you are borrowing today’s money at tomorrow’s prices. With hyper inflation on the horizon you are certainly in a better position putting less money down especially with the current rate of return on your current investments. I have been telling my clients to put as little down as possible if they have the ability to park that money elsewhere with a better return. I have two clients in escrow doing just that. Rental properties in areas like Temecula/Murrieta are still very solid investments.

4.5% is free money in my opinion. I think I even saw rates touch 4 3/8% today. Follow your own instincts and good luck with your purchase.

[socrattt]

Masayako, although few have discussed it here, you are borrowing today’s money at tomorrow’s prices. With hyper inflation on the horizon you are certainly in a better position putting less money down especially with the current rate of return on your current investments. I have been telling my clients to put as little down as possible if they have the ability to park that money elsewhere with a better return. I have two clients in escrow doing just that. Rental properties in areas like Temecula/Murrieta are still very solid investments.

4.5% is free money in my opinion. I think I even saw rates touch 4 3/8% today. Follow your own instincts and good luck with your purchase.

[socrattt]

Masayako, although few have discussed it here, you are borrowing today’s money at tomorrow’s prices. With hyper inflation on the horizon you are certainly in a better position putting less money down especially with the current rate of return on your current investments. I have been telling my clients to put as little down as possible if they have the ability to park that money elsewhere with a better return. I have two clients in escrow doing just that. Rental properties in areas like Temecula/Murrieta are still very solid investments.

4.5% is free money in my opinion. I think I even saw rates touch 4 3/8% today. Follow your own instincts and good luck with your purchase.

[CA renter]

[quote=bob2007]I would agree with the 20% down. As taxes go up, you will need to reduce your taxable income as much as possible. Also, many lenders will allow you to reamitorize once (I did), so if you later decide to pay down a large part of the loan and reduce payments if your investments aren’t doing as good. I did this when I got nervous before the large drop in stocks a few years back. House has gone down a bit too, but not as much as the investments would have, plus I’m not worried about the payment anymore.[/quote]

I’ve often questioned the wisdom of paying a dollar in interest in order to save 30-40 cents in taxes.

Am I missing something?

SDR made some excellent points with respect to timing of your purchase and what’s going on in the bond market, and greater economy, at that time.

SK in CV also gave good advice regarding your assumed ROI on investments vs. the “guaranteed” return if you use cash and avoid the mortgage origination and interests costs. IMHO, if you’re getting 7%, there’s a good chance you’re taking some substantial risks (if you doubt this, just as the people who manage those pesky pension funds). Consider your risk tolerance at different stages of your life, and make a very conservative estimate for future returns at the time of purchase.

[CA renter]

[quote=bob2007]I would agree with the 20% down. As taxes go up, you will need to reduce your taxable income as much as possible. Also, many lenders will allow you to reamitorize once (I did), so if you later decide to pay down a large part of the loan and reduce payments if your investments aren’t doing as good. I did this when I got nervous before the large drop in stocks a few years back. House has gone down a bit too, but not as much as the investments would have, plus I’m not worried about the payment anymore.[/quote]

I’ve often questioned the wisdom of paying a dollar in interest in order to save 30-40 cents in taxes.

Am I missing something?

SDR made some excellent points with respect to timing of your purchase and what’s going on in the bond market, and greater economy, at that time.

SK in CV also gave good advice regarding your assumed ROI on investments vs. the “guaranteed” return if you use cash and avoid the mortgage origination and interests costs. IMHO, if you’re getting 7%, there’s a good chance you’re taking some substantial risks (if you doubt this, just as the people who manage those pesky pension funds). Consider your risk tolerance at different stages of your life, and make a very conservative estimate for future returns at the time of purchase.

[CA renter]

[quote=bob2007]I would agree with the 20% down. As taxes go up, you will need to reduce your taxable income as much as possible. Also, many lenders will allow you to reamitorize once (I did), so if you later decide to pay down a large part of the loan and reduce payments if your investments aren’t doing as good. I did this when I got nervous before the large drop in stocks a few years back. House has gone down a bit too, but not as much as the investments would have, plus I’m not worried about the payment anymore.[/quote]

I’ve often questioned the wisdom of paying a dollar in interest in order to save 30-40 cents in taxes.

Am I missing something?

SDR made some excellent points with respect to timing of your purchase and what’s going on in the bond market, and greater economy, at that time.

SK in CV also gave good advice regarding your assumed ROI on investments vs. the “guaranteed” return if you use cash and avoid the mortgage origination and interests costs. IMHO, if you’re getting 7%, there’s a good chance you’re taking some substantial risks (if you doubt this, just as the people who manage those pesky pension funds). Consider your risk tolerance at different stages of your life, and make a very conservative estimate for future returns at the time of purchase.

[CA renter]

[quote=bob2007]I would agree with the 20% down. As taxes go up, you will need to reduce your taxable income as much as possible. Also, many lenders will allow you to reamitorize once (I did), so if you later decide to pay down a large part of the loan and reduce payments if your investments aren’t doing as good. I did this when I got nervous before the large drop in stocks a few years back. House has gone down a bit too, but not as much as the investments would have, plus I’m not worried about the payment anymore.[/quote]

I’ve often questioned the wisdom of paying a dollar in interest in order to save 30-40 cents in taxes.

Am I missing something?

SDR made some excellent points with respect to timing of your purchase and what’s going on in the bond market, and greater economy, at that time.

SK in CV also gave good advice regarding your assumed ROI on investments vs. the “guaranteed” return if you use cash and avoid the mortgage origination and interests costs. IMHO, if you’re getting 7%, there’s a good chance you’re taking some substantial risks (if you doubt this, just as the people who manage those pesky pension funds). Consider your risk tolerance at different stages of your life, and make a very conservative estimate for future returns at the time of purchase.

[Author]

Posts