Looks like welk2party was posting the same time as myself. I agree with most of what he said. Everyone has to discipline themselves with their loan. And of course even being a Realtor, I don't have the money to just "write a check " for a new roof. That's when I turn to my savings account if you will and get money from the equity in my own home. No matter what, owning Real Estate is an investment you can't go wrong in doing. Just get the right people to help you, that's where I come in. Give me a call or PM me, you won't be disappointed.
Some of you guys seems knowledgable, so I'd like to play a what if...
What if rates were to rise 100 to 150 basis points over the next 12 months?
What would that do to the housing market?
BTW - I'm in the southeast and the market has been pretty hot here too. Some places have been experiencing 20% annual appreciation.
A point or point and half rise will drop 5 to 10 percent of the buyers out of the market...more in higher priced areas. It will reduce disposable income once adjustable owners have their payments go up...
Sh*t I remember when anything under 10% was a killer rate.... adjustable assumables at 11.25 were the norm..... The rates today are a bargain.
If we could all just go back 5 years ad get a d-over, we'd all be jillionaires!!!
this will lay out the "option loans" really well.
http://www.brucknermortgageteam.com/...s/Sitemap.html
Interesting guide.
However, I didn't see risk mentioned anywhere. Most available investments probably will not give 3% more return than the after tax cost of the loan without risk.
Does anyone even offer a 30 year IO? If not what is the longest in CA? Are they all adjustable?
Does anyone even offer a 30 year IO? If not what is the longest in CA? Are they all adjustable?
It's amortized over 30 years but has a ballon.
Low down long financing take the interest deduction. the markets not going to go down! the value will still be going up take a look around lots of investment big companys employing lots of people! Think positive and take the extra cash and buy a bigger BOAT! LOL!!
Does anyone even offer a 30 year IO? If not what is the longest in CA? Are they all adjustable?
its a 30 year loan I/O for the 1st 10 years then the balance re-amortizes for 20 years
its a 30 year loan I/O for the 1st 10 years then the balance re-amortizes for 20 years
Ok I don't get it :cry: is it adjustable interest only for 10 years then amortized the last 20 with a balloon?
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