[bake]

sd reator, aren’t prices getting close to that level, when you consider the tax deduction and principal reduction, as i said in a recent post, as follows..

“scaredycat, the fundamentals suggest there is still some downside in the san diego market, but if you are sure you want to live there for 10-20 years, and you find a home you really love, go ahead and buy it if your monthly payment on the purchase would be close to what you could rent it for, for example: purchase price 400k, loan amount 400k @ 7%, payment is 2646 plus 480 tax and insur for a total of 3126. say you can write off 30% for a net payment of 2188; if this home would rent for that much, i would say it will be a good investment.”

sd realtor don’t forget on a loan of 400k fully amortized 30/30 you have a principal reduction of about 320 on your first payment also, wouldn’t a 400k house usually rent for 2000 p/mo?

[bake]

smart. also purchase money in ca is non recourse, which means if prices go way down you could give the house back to the bank and they couldn’t come after you (not that, as a mortgage broker, i am recommending or would ever recommend that to any prospective buyer), but with little or no $ down you would have very little risk, of course your credit would be ruined for awhile…

you can do 100% financing if you are a vet, or if the property is located in certain areas, 100% with usda rural, otherwise fha with 3.5% down is your best bet right now.

just make sure you don’t overpay for the house; your monthly payment with 97 – 100% financing, after the write off, should be close to what the property would rent for…

[bake]

smart. also purchase money in ca is non recourse, which means if prices go way down you could give the house back to the bank and they couldn’t come after you (not that, as a mortgage broker, i am recommending or would ever recommend that to any prospective buyer), but with little or no $ down you would have very little risk, of course your credit would be ruined for awhile…

you can do 100% financing if you are a vet, or if the property is located in certain areas, 100% with usda rural, otherwise fha with 3.5% down is your best bet right now.

just make sure you don’t overpay for the house; your monthly payment with 97 – 100% financing, after the write off, should be close to what the property would rent for…

[bake]

smart. also purchase money in ca is non recourse, which means if prices go way down you could give the house back to the bank and they couldn’t come after you (not that, as a mortgage broker, i am recommending or would ever recommend that to any prospective buyer), but with little or no $ down you would have very little risk, of course your credit would be ruined for awhile…

you can do 100% financing if you are a vet, or if the property is located in certain areas, 100% with usda rural, otherwise fha with 3.5% down is your best bet right now.

just make sure you don’t overpay for the house; your monthly payment with 97 – 100% financing, after the write off, should be close to what the property would rent for…

[bake]

smart. also purchase money in ca is non recourse, which means if prices go way down you could give the house back to the bank and they couldn’t come after you (not that, as a mortgage broker, i am recommending or would ever recommend that to any prospective buyer), but with little or no $ down you would have very little risk, of course your credit would be ruined for awhile…

you can do 100% financing if you are a vet, or if the property is located in certain areas, 100% with usda rural, otherwise fha with 3.5% down is your best bet right now.

just make sure you don’t overpay for the house; your monthly payment with 97 – 100% financing, after the write off, should be close to what the property would rent for…

[bake]

smart. also purchase money in ca is non recourse, which means if prices go way down you could give the house back to the bank and they couldn’t come after you (not that, as a mortgage broker, i am recommending or would ever recommend that to any prospective buyer), but with little or no $ down you would have very little risk, of course your credit would be ruined for awhile…

you can do 100% financing if you are a vet, or if the property is located in certain areas, 100% with usda rural, otherwise fha with 3.5% down is your best bet right now.

just make sure you don’t overpay for the house; your monthly payment with 97 – 100% financing, after the write off, should be close to what the property would rent for…

[bake]

when you find that sure thing please let me know scaredycat! i want my my home to be a great place to live at a price that makes sense (pretty much what i could rent it for, per previous post). now i have quality of life, a happy wife, and between paying down principal and eventual appreciation, it will almost certainly be a darn good long term investment.

but if it’s not what have you lost, you have to live somewhere and pay something!

[bake]

when you find that sure thing please let me know scaredycat! i want my my home to be a great place to live at a price that makes sense (pretty much what i could rent it for, per previous post). now i have quality of life, a happy wife, and between paying down principal and eventual appreciation, it will almost certainly be a darn good long term investment.

but if it’s not what have you lost, you have to live somewhere and pay something!

[bake]

when you find that sure thing please let me know scaredycat! i want my my home to be a great place to live at a price that makes sense (pretty much what i could rent it for, per previous post). now i have quality of life, a happy wife, and between paying down principal and eventual appreciation, it will almost certainly be a darn good long term investment.

but if it’s not what have you lost, you have to live somewhere and pay something!

[bake]

when you find that sure thing please let me know scaredycat! i want my my home to be a great place to live at a price that makes sense (pretty much what i could rent it for, per previous post). now i have quality of life, a happy wife, and between paying down principal and eventual appreciation, it will almost certainly be a darn good long term investment.

but if it’s not what have you lost, you have to live somewhere and pay something!

[bake]

when you find that sure thing please let me know scaredycat! i want my my home to be a great place to live at a price that makes sense (pretty much what i could rent it for, per previous post). now i have quality of life, a happy wife, and between paying down principal and eventual appreciation, it will almost certainly be a darn good long term investment.

but if it’s not what have you lost, you have to live somewhere and pay something!

[bake]

scaredycat, the fundamentals suggest there is still some downside in the san diego market, but if you are sure you want to live there for 10-20 years, and you find a home you really love, go ahead and buy it if your monthly payment on the purchase would be close to what you could rent it for, for example: purchase price 400k, loan amount 400k @ 7%, payment is 2646 plus 480 tax and insur for a total of 3126. say you can write off 30% for a net payment of 2188; if this home would rent for that much, i would say it will be a good investment.

i’m a lender, i understand there are only a couple of 100% financing programs out there right now, and i understand closing, carrying and selling costs, this is just a general idea of determining wether or not to buy; if you can buy for what it would cost to rent and you are going to be there for a long time, you’ll probably be ok…

[bake]

scaredycat, the fundamentals suggest there is still some downside in the san diego market, but if you are sure you want to live there for 10-20 years, and you find a home you really love, go ahead and buy it if your monthly payment on the purchase would be close to what you could rent it for, for example: purchase price 400k, loan amount 400k @ 7%, payment is 2646 plus 480 tax and insur for a total of 3126. say you can write off 30% for a net payment of 2188; if this home would rent for that much, i would say it will be a good investment.

i’m a lender, i understand there are only a couple of 100% financing programs out there right now, and i understand closing, carrying and selling costs, this is just a general idea of determining wether or not to buy; if you can buy for what it would cost to rent and you are going to be there for a long time, you’ll probably be ok…

[bake]

scaredycat, the fundamentals suggest there is still some downside in the san diego market, but if you are sure you want to live there for 10-20 years, and you find a home you really love, go ahead and buy it if your monthly payment on the purchase would be close to what you could rent it for, for example: purchase price 400k, loan amount 400k @ 7%, payment is 2646 plus 480 tax and insur for a total of 3126. say you can write off 30% for a net payment of 2188; if this home would rent for that much, i would say it will be a good investment.

i’m a lender, i understand there are only a couple of 100% financing programs out there right now, and i understand closing, carrying and selling costs, this is just a general idea of determining wether or not to buy; if you can buy for what it would cost to rent and you are going to be there for a long time, you’ll probably be ok…

[bake]

scaredycat, the fundamentals suggest there is still some downside in the san diego market, but if you are sure you want to live there for 10-20 years, and you find a home you really love, go ahead and buy it if your monthly payment on the purchase would be close to what you could rent it for, for example: purchase price 400k, loan amount 400k @ 7%, payment is 2646 plus 480 tax and insur for a total of 3126. say you can write off 30% for a net payment of 2188; if this home would rent for that much, i would say it will be a good investment.

i’m a lender, i understand there are only a couple of 100% financing programs out there right now, and i understand closing, carrying and selling costs, this is just a general idea of determining wether or not to buy; if you can buy for what it would cost to rent and you are going to be there for a long time, you’ll probably be ok…

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