Home Buying - Down Payment Advice

[pjung88]

bhayya's home loan meedha oka doubt... chala mandhi 20% down payment better antaru ga kani remaining 80% amount ki interest kuda significant amount avthundhi kadha..

 

 

for example : Home loan kinda 200K - 4% interest - 15 year term ki - total interest - 67K pay cheyali.

 

So better savings kosam - ekkuva down payment chesinavaru unnara(like 60-70%) ??

 

please evariana home owners unte pls suggest on this.

 

oka vella ekkuava down payment chesthe -- tax deductions emi anna rava??

[Hitman]

dabbulu unte pay cheyyi.. no bad with that..

[kiladi bullodu]

Do you have a pole in your home ?

[Hitman]

Do you have a pole in your home ?

Pole aaaaa.. what is this mayya...?

[kiladi bullodu]

Pole aaaaa.. what is this mayya...?

Pole teliyadhaaa?

[SudhirKumar]

Do you have a pole in your home ?

 

 

[k2s]

Ur wish.. Istam vachinantha pay cheyi

[Chakram12]

bhayya's home loan meedha oka doubt... chala mandhi 20% down payment better antaru ga kani remaining 80% amount ki interest kuda significant amount avthundhi kadha..


for example : Home loan kinda 200K - 4% interest - 15 year term ki - total interest - 67K pay cheyali.

So better savings kosam - ekkuva down payment chesinavaru unnara(like 60-70%) ??

please evariana home owners unte pls suggest on this.

oka vella ekkuava down payment chesthe -- tax deductions emi anna rava??

yes , tax deduction lo benift vuntadi interest medha

[VenkatD]

Do you have a pole in your home ?

 

 

  subham palakara magada ante .... em vaaa qochen ?? 

[as_it_is]

why 20%?

If you pay 20% you dont need to pay PMI(this is insurance for your mortgage).

Recession tharvaatha they have this rule, you have to pay PMI if your down is less than 20%.

for say your property value is 400K, and you do a downpayment of 3%, you will end up paying 200-250$ of PMI everymonth.

You need to pay your PMI until your mortgage remains 78%, in general it takes 72 months(6 years) to get rid of ur PMI.

200$ *72 MONTHS = 14,400$ you pay as insurance for your mortgage.

so people try to pay this amount as earlly as possible to get rid of extra burden everymonth.

If you are a vetaran or a army guy..even though you make 3% down, there will be no PMI.

[mustang302]

nee daggara aekkuva untae..aekkuva down pay chai..or else neeku unna available amt lo nae downpayment  chai..!!

 

particular 20% anae em undhi..!!

 

anyways..ae state .. how many sq ft..how many bed rooms..?

[kiladi bullodu]

subham palakara magada ante .... em vaaa qochen ??

House warming party ki bro

[pjung88]

why 20%?

If you pay 20% you dont need to pay PMI(this is insurance for your mortgage).

Recession tharvaatha they have this rule, you have to pay PMI if your down is less than 20%.

for say your property value is 400K, and you do a downpayment of 3%, you will end up paying 200-250$ of PMI everymonth.

You need to pay your PMI until your mortgage remains 78%, in general it takes 72 months(6 years) to get rid of ur PMI.

200$ *72 MONTHS = 14,400$ you pay as insurance for your mortgage.

so people try to pay this amount as earlly as possible to get rid of extra burden everymonth.

If you are a vetaran or a army guy..even though you make 3% down, there will be no PMI.

 

Cool. Thank you for this information..

[pjung88]

nee daggara aekkuva untae..aekkuva down pay chai..or else neeku unna available amt lo nae downpayment  chai..!!

 

particular 20% anae em undhi..!!

 

anyways..ae state .. how many sq ft..how many bed rooms..?

 

currently not looking bhayya..ee madhya ma colleague okkadu tesukonnadu - 30 yrs - loan 250K - 5 % interest. calculate chesi chusthe vadu 233K interest ke pay chesthadu - if keeps paying monthly payments....endhuko naaku edhi antha correct anipinchaledhu..koncham ekuuva down payment chesthe better anipinchindhi....

[jaffda]

ala aitay frst aa 233k kattaka mottam clr ayyaka 250k ki payments strt chestunatta