Prepare for 8% mortgages

[Anta Assamey]



[Sonu_Patel]

19 minutes ago, ARYA said:

job undali kada mundu ani @Sonu_Patel vekkirinching

house anedhi oka athmagouravam anna.. kaapadukovali ga.

[ARYA]

1 minute ago, Sonu_Patel said:

house anedhi oka athmagouravam anna.. kaapadukovali ga.

😮 

[akkum_bakkum]

14 hours ago, pandugadu999 said:

does not matter..Builders giving 4.75% 

 

13 hours ago, ARYA said:

Builders manchiga 4.99 giving with all closing paid by them…

I'd say take those should someone still choose to buy. you can easily bring down the value by 100k for the same monthly payment or buy a house that is 100k more.

[pandugadu999]

4 minutes ago, akkum_bakkum said:

 

I'd say take those should someone still choose to buy. you can easily bring down the value by 100k for the same monthly payment or buy a house that is 100k more.

ante

[ARYA]

6 minutes ago, akkum_bakkum said:

 

I'd say take those should someone still choose to buy. you can easily bring down the value by 100k for the same monthly payment or buy a house that is 100k more.

yeah, but if you want to buy a house to live for the period 10-15 yrs I feel there is no issue...but if you want to buy a house just for the sake of an investment, this is not the time

[akkum_bakkum]

26 minutes ago, pandugadu999 said:

ante

a 500k home at 6.5% interest and a 600-650k home at 4.9% may cost the same (in terms of monthly mortgage payments and overall costs).

[phatposts]

15 hours ago, ARYA said:

Builders manchiga 4.99 giving with all closing paid by them…

full 30y term?

 

[pandugadu999]

8 minutes ago, phatposts said:

full 30y term?

 

Yes

[ARYA]

52 minutes ago, phatposts said:

full 30y term?

 

Depends, kontha mandi 30 kontha mandi 3-2-1

[Allarinaresh10]

6 minutes ago, ARYA said:

Depends, kontha mandi 30 kontha mandi 3-2-1

3-2-1 ante enti bro. 

[ARYA]

2 hours ago, Allarinaresh10 said:

3-2-1 ante enti bro. 

 

What is a 3-2-1 Buydown Mortgage?

 

 

It’s a mortgage with a temporary reduction in the interest rate for the first three years, increasing each year until it reaches the full rate in year 4, where it stays for the remainder of the loan term.

 

 

Example:

 

 

Let’s say your mortgage is for 30 years with a base interest rate of 6%.

 

• Year 1: You pay 3% (6% - 3%)
• Year 2: You pay 4% (6% - 2%)
• Year 3: You pay 5% (6% - 1%)
• Year 4 onward: You pay 6% (full rate)

 

[GelakoduKri]

19 hours ago, pandugadu999 said:

does not matter..Builders giving 4.75% 

Builders give because they have a bank loan for 2 %, and when they get 4.75%, they don't let you negotiate a dollar. 

And they are confident enough that the reates will go down , They are adding there loss already in the home price. 
at least prices are bumped 40 to 60 K for a 800k home to cover their losses IF ANY.