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Discussion in 'General' started by skunkindunks, Jan 12, 2010.
Anyone know where I can cop this ?
The rug 100 dollar bill
yall some big ballers in here, im poor
This is all correct. 3.5% for an FHA loan or if you have VA benefits, you can do a 0% down loan. Conventional loans can be had at 20% down. As @turbospartan mentioned though, you'll end up paying PMI on anything under 20%, but those payments go away once you hit 20% equity. Also as @turbospartan said, I have a feeling the market will be slowing down soon. Prices around Dallas have gotten absolutely ridiculous, and I don't see how it can continue to go up. Prices are going to stall soon and eventually start dropping again as fewer people list their homes. I wouldn't be surprised if we end up back in a buyers market across a large part of the nation in the next couple years.
Fact check me but I believe 3.5% on FHA requires PMI all the way through the life of the loan, even after you exceed 20% equity. You wind up spending more on PMI and Interest than the house is worth if you carry the loan through maturity
Fact checked myself - It's not "PMI" its FHA Insurance. Anything under 10% remains over the life of the loan. Anything above 10% remains for 11 years
Keep in mind this is FHA specific. The other users are right RE: PMI. It normally goes away once you've hit 20% equity (Which would be years anyway because majority of first several years is applied to interest and not principal)
I should just wait til this thing bursts then because whatever I buy I plan to make it my own for a very long time.
You're pretty much correct in that PMI could potentially never really expire, but I think it all depends on loan terms. Almost all of the lenders I dealt with set it to expire after 20% of equity was met. Should have clarified that in my post. Each loan has so many dependent clauses in it that it shouldn't be stated as a sweeping statement. It really depends on your lender and your credit score.
Some loans will have it essentially carry through the life of the loan...clarify that with your lender though and refinance several years later if you're able to (this will most likely cost a little extra at the time, but it could get you a better rate and better long-term terms on the loan if you qualify) . Loans can be really tricky with how different lenders write them up. Definitely ask around and get pre-approvals and rates from several lenders before deciding on who you want to sign up with.
Editing to add: mortgage servicers are required to cancel your PMI after you hit 78% LTV, but it's ultimately up to you to provide that proof. Whether that's through refinancing or getting a new appraisal to show your house value is now that much greater than your loan. FHA insurance (not a lot, but certainly not negligible) is the one that carries through the life of the loan.
Also editing to add: I've had quite a bit to drink tonight, so my response probably sounds all over the place right now. I worked in real estate for several years so I can fix this response later.
Anyone here have a dyson canister vacuum?
Need some thoughts about this wall. Its already mounting ready as far as hidden cables, but I'm to figure out a good entertainment system (cabinet, wall backing, etc.) for it.
I like the Norlotti and Manhattan Comfort center I've seen online, but also considering just covering the entire wall with wood planks.
Pic of rug where can I cop ?
Anyone here have a bonsai ? Always liked them but never got one for whatever reason
This one here is fresh with the little water pond too might cop for my desk
IMO less is more, i would just wall mount the tv and get a tall media cabinet
With the wood on the walls it could clash with the floors
There's a massive bonsai farm not too far from me and I've always wanted one. For Karate Kid reasons, nothing else
That wood floor tho
Here’s my current spot, but I’m moving in a couple of months!
digging the cool tones. small space done right.
@ears1351 super dope spot.
What is the skate deck in your first pic?
Also - what is your avatar / profile pic? Looks like a Salvador Dali-ish twist on Wolverine?
It's an old deck from maybe 10 years ago; I believe it's made by Akomplice. And yesssir! One of my favorite artist . . . I got the image from Tumblr years ago.
Your place gets great lighting, my home is super dark.
@ears1351 really nice spot, man! Well done.
anyone have any horror stories on jacuzzi / hot tubs outside the house ( like backyard stand alone units ) ?
Beautiful spot. Looks like pure serenity.
What are you using to mount the decks to the wall?