House buying risk

[BommaliNinnodhala]

17 minutes ago, hydusguy said:

but you said sept end.. its too soon to crash.. it will take 1-2yrs

 

[BommaliNinnodhala]

15 minutes ago, Vaampire said:

4.95% for 30 years? Why dont u go for 5/1arm

 

[Complex]

if you are worried so much...think about the ways to not loose that 12k and cancel it. Read the contract and find any suitable clause. 

if worried about waiting cozz of high rent.. remote work aithe..move to cheaper area for short term.

[hydusguy]

32 minutes ago, Vaampire said:

4.95% for 30 years? Why dont u go for 5/1arm

5arm is 3.5 in dcu

[Vaampire]

21 minutes ago, hydusguy said:

5arm is 3.5 in dcu

Still better than 4.95

[Ravi860]

29 minutes ago, Vaampire said:

Still better than 4.95

arm is tempting but Isn’t arm a gamble assuming rate will go down for sure in 5 years to do refinance

[Vaampire]

21 minutes ago, Ravi860 said:

arm is tempting but Isn’t arm a gamble assuming rate will go down for sure in 5 years to do refinance

Well if rates dont go down in 5 years, it will be disaster.

i owned a home for 7 years. Was always on 5/1 arm. Refinanced it 3 times.

 

Are u sure u r going to live in that home for 30 years and no plans of selling it? Why pay more interest?

[Complex]

1 minute ago, Vaampire said:

Well if rates dont go down in 5 years, it will be disaster.

i owned a home for 7 years. Was always on 5/1 arm. Refinanced it 3 times.

 

Are u sure u r going to live in that home for 30 years and no plans of selling it? Why pay more interest?

i'm thinking same too

[ve_ndor_bad_cows]

2 hours ago, Vaampire said:

4.95% for 30 years? Why dont u go for 5/1arm

Yes bro, following news regularly and most of them are predicting that in nxt 18-24 months it will go up to 9-10% in that case 5/1arm will be risky

[ve_ndor_bad_cows]

2 hours ago, hydusguy said:

but you said sept end.. its too soon to crash.. it will take 1-2yrs

About next year bro, if housing crash >20-30% is inevitable then risking now will not make sense 

[Peddayana]

No one can predict anything , buy something that you can afford , in that way when and if sh*t hits the fan , you will be ready..

[ve_ndor_bad_cows]

56 minutes ago, Vaampire said:

Well if rates dont go down in 5 years, it will be disaster.

i owned a home for 7 years. Was always on 5/1 arm. Refinanced it 3 times.

 

Are u sure u r going to live in that home for 30 years and no plans of selling it? Why pay more interest?

Refinance costs how much bro?

won’t you be paying more interest when refinancing again? 

[ve_ndor_bad_cows]

1 minute ago, Peddayana said:

No one can predict anything , buy something that you can afford , in that way when and if sh*t hits the fan , you will be ready..

Affordable yes, didnot stretch myself on the budget

[Vaampire]

20 minutes ago, ve_ndor_bad_cows said:

Refinance costs how much bro?

won’t you be paying more interest when refinancing again? 

Banks will take care of closing costs if u take points.

why would u pay more interest with refinancing? It will extend ur term for sure. 

[Vaampire]

26 minutes ago, ve_ndor_bad_cows said:

Yes bro, following news regularly and most of them are predicting that in nxt 18-24 months it will go up to 9-10% in that case 5/1arm will be risky

9-10% podhu anukuntunna. Okkavela poyina malli 5 yrs back ravalsindey. Lekhapothey usa assam avuthadi