Re: advice for first time home buyer?
 

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I think the key to this whole discussion is the location of the OP. He is in Alabama. Prices there haven't gone crazy like other parts of the country. He shouldn't really worry about market timing, since its likely that Huntsville isn't in much of a bubble. Please keep that in mind when responding to his post.

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I think I've made this argument a zillion times. :/

Re: advice for first time home buyer?
 

how much are you looking at putting down? As a first time home buyer in the current climate... I think you're going to have to look into at least 10% down + closing costs (probably about $2K due to your projected purchase price).

BTW... to the contrary... your student loans and CC payoff for your wife is actually going to be very helpful in proving to a lender your ability to repay debt.

the 15 year loan is hovering around 6.375% or so... you can use any ammortization calculator on line to work out different payments. If you only put 10% down... the additional 10% down will be a "2nd mortgage" at a higher rate, probably around 9%.

Re: advice for first time home buyer?
 

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I'm sorry man, I got through like 1 page of responses and I had to stop reading cause it's tilting me.

I can honestly tell you that you're getting advice from people who are pretending to know more than they actually do..

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Don't just say this. Point out what you believe is wrong. It will help the forum. Otherwise you are just entering a pissing contest. If I said something wrong, please educate me and all other readers.

Not sure if this makes sense as I was 14-tabling short handed $1M/$2M PLO. [img]/images/graemlins/grin.gif[/img]

Re: advice for first time home buyer?
 

[ QUOTE ]
[ QUOTE ]
I'm sorry man, I got through like 1 page of responses and I had to stop reading cause it's tilting me.

I can honestly tell you that you're getting advice from people who are pretending to know more than they actually do..

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Don't just say this. Point out what you believe is wrong. It will help the forum. Otherwise you are just entering a pissing contest. If I said something wrong, please educate me and all other readers.


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I had to read this twice when I first saw it. He discredits most all of the early advice and then more or less repeats it lol.

Re: advice for first time home buyer?
 

Guys whether or not Rika has semantics correct, I think he knows his [censored] about RE and would trust him over the vast majority of other people.