H0use l0an strategy

[user789]

1. Is it good to take 15 yr or 30 yr loan?

For 15 yr you almost end up paying 50% more of the house cost and for 30 yr you end up paying 100% of the house cost...

2. Good to pay 15% down or 20-25% down if you have savings and don't plan to invest much in next 5 yrs?

What things you need to consider to decide on  1 and 2 ?

3. Heard wait for atleast 5 yrs before you sell of to make sure you are not in loss - In case there is a situation to sell the house? v1sa or j0b at diff location ?

[pandemkodi]

Take 30 but pay off in 15 ani okasari Quora lo chadiva by paying extra payment towards principle every month 

[BeerBob123]

[BetaCat]

Bay area lo house ante, you must be ridiculously rich. 

[BeerBob123]

Just now, BetaCat said:

Bay area lo house ante, you must be ridiculously rich. 

highly respected last name anta aa candiate

[Hitman]

Bro, illu konedi.. not for investment.. i think for personal luxury, satisfaction. if it is 2nd house.. that is where you try for strategy. 

JOB maradam anedi mana cheitlo ledu.. most of the home buyers are permanently based in the location, whether they work locally or travel. 

if you can afford big monthly payments 15 year is best option. OR go for 30 years , pay extra money when you have it. you dont have to stick to your fixed installments. no pre pay penalties. 

[kothavani]

If you can afford 15 years with enough cash rotation blindly go for 15 you will.burn more principal , as @pandemkodi said it's a intelligent approach,  but we might miss the advantage of lower rate for 15

[kothavani]

Not necessarily,  even I bought in outskirts of bay area just to save rent bro , for some stability for family school etc , which I never regret I am.happy with the decision it has been 5 years

[HugoStrange]

Always 30 years is better. If you have money, you can keep paying off to the principle amount. Just calculating 15 years to 30 years, in 15 years you will be paying 50% more principle + Interest per month. If you invest it for 15 years in S&P (growth of rought 5%), it will be much greater than the interest you will be paying in 30 years loan. Always go for 30 years.

See couple of youtube videos where they explain it and also see rich dad poor dad logic on the same.

[user789]

8 hours ago, kothavani said:

Not necessarily,  even I bought in outskirts of bay area just to save rent bro , for some stability for family school etc , which I never regret I am.happy with the decision it has been 5 years

good.

[user789]

6 hours ago, HugoStrange said:

Always 30 years is better. If you have money, you can keep paying off to the principle amount. Just calculating 15 years to 30 years, in 15 years you will be paying 50% more principle + Interest per month. If you invest it for 15 years in S&P (growth of rought 5%), it will be much greater than the interest you will be paying in 30 years loan. Always go for 30 years.

See couple of youtube videos where they explain it and also see rich dad poor dad logic on the same.

How do you pay off the principle amount like yearly or for 5 yrs ? 

[BetaCat]

It depends on the area, ma area lo 1000 sq. ft parking lot 9M ki ammudu poyindi, ittanti area lo long-term undadam kashtam asalki