Date: 12/16/2004 11:37:00 AM
From Authorid: 36766
They probably are doctors. Or ppl that have hit the lottery.  |
Date: 12/16/2004 11:48:00 AM
From Authorid: 53052
it's called a great big mortgage*LOL* and starting small and working your way up.... there is things called good debt and bad debt.. student loans they consider good debt credit cards and car payments are bad debt... to buy a home around here even a SMALL one we're looking at 300,000 unless we move out of town so we bought a 2 bedroom condo before the market took a spike(early last year) and our condo is now an investment the value has gone up more then 20,000 in the time we have owned it  |
Date: 12/16/2004 11:48:00 AM
From Authorid: 18527
You save say, 5,000 and then get a loan for the rest.  |
Date: 12/16/2004 11:50:00 AM
From Authorid: 14754
usually those kind of houses you have to have a 2 person income and have an excellent job.  |
Date: 12/16/2004 11:51:00 AM
From Authorid: 62915
I think you need to put down like a 10% deposit then you can get a mortgage on the rest. Ghost-chick  |
Date: 12/16/2004 11:55:00 AM
From Authorid: 16845
Umm Darlin'....ya save some for a down payment and you get a loan from your bank...  |
Date: 12/16/2004 12:15:00 PM
From Authorid: 26363
Or you can go to the auctions, you can find some real good investments there.  |
Date: 12/16/2004 12:16:00 PM
From Authorid: 58308
We picked out the house we wanted and went to the bank and got a loan. Easy as 1-2-3.  |
Date: 12/16/2004 12:23:00 PM
From Authorid: 13119
In Canada they have a first time home owners loan which is 5% down and the rest is a mortgage. Look as mls.ca and try to find a house a little later.  |
Date: 12/16/2004 1:58:00 PM
From Authorid: 62739
There are a lot of no money down courses on buying houses. But you MUST negotiate. Start LOW, ask if they will sell the house for what they owe on it. You can't get much lower than that. Just keep looking and you will find exactly what you are looking for. I make about 20 offers on houses each month. Most get mad and won't speak to me after that. If the house is listed for 200,000 I may offer 110,000 at no payments for 6 months then 500 per month for 36 months and then a final payment for the rest. By that time you can refinance the rest and pay them off. Of course you have the new mortgage to pay on. Oh Well just enjoy shopping.  |
Date: 12/16/2004 2:16:00 PM
From Authorid: 21867
Well...to get my house I kinda did it the hard way...and then came the easy way...heh. At the time I was saving, and saving hard everything and anything I could. Was also working a second job on top of my already fulltime main job in order to get together a large enough initial deposit to be able to apply for a decent Home Loan. This took me a number of years, but I got there in the end. Approached my Bank and got initial approval for a Home Loan for a certain amount and went seriously looking for what I could get with that amount. Of course over those years I'd already been looking at what and where houses were available for the 'ballpark' figure I had in mind...gauging some idea as to the housing market and the increasing/decreasing values in certain areas, areas that were newly under development and likely *hopefully* to return some good gains when/if I eventually sold my house to purchase something different. The plan is basic enough - save all you can - talk to your bank in regards to Home Loans and the criteria with them - assess what you can and can't afford and DON'T over-extend yourself or get your hopes up or sights set on something that is too highpriced - factor in some 'headroom' for expansion/remodelling/development of the house/property...as chances are you WILL be throwing money at the house to fix things up just the way you like them, so budget/plan for that too - realise and accept that you will most likely/definitely be paying off that house for ages and ages and ages...but hey, why put rent in someone elses pocket when you could be putting that money towards paying off your OWN house - basically, just do all you can, plan all you can and then simply leap in...as Housing prices *well, where I live* don't seem to be getting any cheaper so you might as well just bite the bullet and do it when you can. As for the 'easy way' I mentioned...well, soon after getting my house I was also promoted to Team Manager of the Mental Health Team I work in...so the repayments towards the house were no longer *such* a burden (still were a burden, but the new promotion and subsequent pay increase just gave me a lil more breathing room for other expenses). Then...well...heh...a group of us came into a fair share of money thanks to a set of 'six numbers and a bonus' we'd be playing for the last few years. That enabled me to pay my house outright. Currently I'm looking at getting a larger house in a better area...and either selling my current one to put towards the new one, or rent out my current one AND use it as security towards a new Home Loan. Peace,  |
Date: 12/16/2004 2:27:00 PM
From Authorid: 59876
our house was $202,000 and a bit of a fixer, needed completely new carpet and a bit of roof and fire place fixing, but large with a pool as well. we put a couple of thousand down, got a loan, and bought it with a second. we worked to get rid of the second and refinanced twice and it is nicely managable now cost wise.  |
Date: 12/16/2004 2:55:00 PM
From Authorid: 15228
It depends on what area of the country you build in. We just built an almost 2900 sqf house with a large back yard with no money down. We could not have afforded this sort of house in California.  |
Date: 12/16/2004 3:42:00 PM
From Authorid: 20956
we paid $222,000 for our place (thats in Australia $$) - basically my boyfriend and I saved for a deposit and got a loan for the rest. In Australia the government provides you with a $7000 First Home Owners grant but unfortunately that all goes on fees, stamp duty, etc. Its an expensive exercise but definatley worth it!!! Save you butt off for a deposit, talk to your bank person and above all shop around for home loan because you'd be suprised the different interest rates you can get as well as some of the fees wavered. Best of luck  |
15904 Category:(Discussion) Created:(12/16/2004 11:32:00 AM)