Home Downpayment- calling all homeowners

[former]

1 minute ago, xxxmen said:

Yup

what is the procedure???

[indra_babu]

2 hours ago, xxxmen said:

10% cheyi pmi vuntundi $300 extra katali but pmi ni refinance chesi tiseya vachu

1mnth mortgage kataka re finance chepinchu house appreciatiin cheyinchi pmi tisestaru

I have plans to remove PMI in an year. i just dont want to touch savings. I have plans to clear credit as well by April.

[indra_babu]

1 hour ago, former said:

If u are FT employee, you can use ur 401k balance to pay off home loan. Its very effective cost savings.

Remember, all ur initial home payemnts are go to interest. If you have GC, I suggest put most of ur money on the upfront to reduce ur Interest payment.

FTE ne bhayya. 

[indra_babu]

1 hour ago, former said:

Also take a look into ESPP plan. if u sell stocks on ESPP, what is your tax bracket?

i will exceed my tax bracket and fall into 28% bracket

[indra_babu]

3 minutes ago, indra_babu said:

I have plans to remove PMI in an year. i just dont want to touch savings. I have plans to clear credit as well by April. should we refinance to remove PMI or is it automatically done?

 

[Quickgun_murugan]

4 minutes ago, indra_babu said:

I have plans to remove PMI in an year. i just dont want to touch savings. I have plans to clear credit as well by April.

bro... PMI mahaa aithey $150 to $300 untadi depending on your house value.  dani kosam nuvvu inkoka 20 to 30 k cash kattalsina avasaram ledu.. adey cash ekkadain invest chestey you will easily get your PMI money back...

doubt lo untey go for 5 to 10% down payment and pay PMI for few months and ee lopu migitha 10% katti PMI clear cheseyyochu.. refinance cheyalsina avasaram ledu . Talk to your mortgage vendor. also check 7yr or 15yr ARM . APR thakkuva osthadi.. but daniki atleast 10% kattali antaru kondaru vendors.. shop around and get the best one who can accomodate your requests. 

All the best

@indra_babu

[indra_babu]

5 minutes ago, Quickgun_murugan said:

bro... PMI mahaa aithey $150 to $300 untadi depending on your house value.  dani kosam nuvvu inkoka 20 to 30 k cash kattalsina avasaram ledu.. adey cash ekkadain invest chestey you will easily get your PMI money back...

doubt lo untey go for 5 to 10% down payment and pay PMI for few months and ee lopu migitha 10% katti PMI clear cheseyyochu.. refinance cheyalsina avasaram ledu . Talk to your mortgage vendor. also check 7yr or 15yr ARM . APR thakkuva osthadi.. but daniki atleast 10% kattali antaru kondaru vendors.. shop around and get the best one who can accomodate your requests. 

All the best

@indra_babu

thanks bro. matalada loan ame tho. 5% or 10% is OK but will decide at that time annadi. 

[Quickgun_murugan]

2 minutes ago, indra_babu said:

thanks bro. matalada loan ame tho. 5% or 10% is OK but will decide at that time annadi. 

okay kool... 

shop around and find out what others are offering..

[xxxmen]

33 minutes ago, Quickgun_murugan said:

okay kool... 

shop around and find out what others are offering..

Bro intrest rates tage suchunalu emana vunay in cmng yrs ?

[indra_babu]

8 minutes ago, xxxmen said:

Bro intrest rates tage suchunalu emana vunay in cmng yrs ?

currently increasing. mostly No.

[pandemkodi]

3 hours ago, xxxmen said:

10% cheyi pmi vuntundi $300 extra katali but pmi ni refinance chesi tiseya vachu

1mnth mortgage kataka re finance chepinchu house appreciatiin cheyinchi pmi tisestaru

6 months varaku apprisal  value same bayya so not possible anukunta 1 month lo 

[xxxmen]

9 minutes ago, pandemkodi said:

6 months varaku apprisal  value same bayya so not possible anukunta 1 month lo 

Depends ma area 1 mnth lone appraise chesina valani chusa

[Baangaru]

20 hours ago, indra_babu said:

hello Friends,

Need some advice's in buying a home? is it good to put 20% down payment (this will wipe out all savings) or 5% down cheste (pay PMI)?  

what are advantages of putting 20% down payment? eppudu konchem uncertainty vundi kada so i actually don't want to wipe out my savings. but at the same time i have balances on credit cards.

Thanks in Advance.

Don't buy a home when you are on H1B.

Pros/Cons chepu vayya for buying a home. which location

[Quickgun_murugan]

1 hour ago, xxxmen said:

Bro intrest rates tage suchunalu emana vunay in cmng yrs ?

Near future lo aithe taggavu.. economy konchem theda kodithe thappa..

Interest rates penchedey inflation ni control cheyyataniki...