Incoming Salary vs Principal Interest with 5% down payment for home purchase

[Neekendukuu]

[Jalsarayudu9]

Its like any product that you buy. You can use cash, CC with or without interest, rebates etc., that doesn't matter to the seller. He is selling for a fixed price. 

From your perspective, you should calculate the total cost of ownership for any thing that you purchase.

[Sonu_Patel]

13 minutes ago, Jalsarayudu9 said:

Its like any product that you buy. You can use cash, CC with or without interest, rebates etc., that doesn't matter to the seller. He is selling for a fixed price. 

From your perspective, you should calculate the total cost of ownership for any thing that you purchase.

30 year loan is big SCAM laga anpistundi

[Aquaman]

5 minutes ago, Sonu_Patel said:

30 year loan is big SCAM laga anpistundi

then buy with full cash

[Sonu_Patel]

9 minutes ago, Aquaman said:

then buy with full cash

Ihigher monthly payment is higher risk.. antha cash evadi dagara untadi vayya

[Aquaman]

14 minutes ago, Sonu_Patel said:

Ihigher monthly payment is higher risk.. antha cash evadi dagara untadi vayya

Andhariki Faang job high pay kavalani untadhi ga… but not all can put effort and get one .. so most go with non-faang jobs. 

idhi kuda alage, get what you can and move on uncle. Don’t overthink, when situation's are better get fancy home.  

[yemdoing]

36 minutes ago, Sonu_Patel said:

30 year loan is big SCAM laga anpistundi

scam how ?

[ARYA]

4 hours ago, veerigadu said:

Actually, he is analyzing it from different perspectives. Rather than just jumping into the pond. I think that’s good. 
 

Half of the people in our db brought houses without knowing anything about amortization. Valla tho compare sesthe he is atleast thinking. 

Evaru ba vallu

[ThankYouCBN420]

4 hours ago, Sonu_Patel said:

 

Happy Monday folks! 

oka average salary 130k lo manaki chethiki ochedi  ~91k after all taxes(~30K) ... some people contribute to 401k, health or other deduction.. ila chestey net inka takkuva vastadi. but manam janaalaki 130k salary ani cheppukuntaam. 

In the same case, If we purchase a home for 750K for example, with having 6% interest rate for 30 year loan term... 

Princial will be $712,500 (with 5% down payment )

Interest will be $538,240

point entate.. manam actually buying home for $712,500(Principal) + $538,240(Interest) = $1.25 Million. 

 

mari manam 1.25 million ki kontunnam ani enduku cheppukomu. 

 

Ba 5/6 th house planning ?

[manchulomajjiga]

3 hours ago, ForEverJava said:

Nenu ade cheptunna ..saturated market lo thinking works..last 2 yrs lo unna market lo ppl who ever jumped in market made it big ..ppl who were overthinking etu kakuknda poyaru...

Yes peer pressure tho last one year lo konna vallu and e year kondhamu anukuntunna vallu same kind of magic bubble appreciation expect chestunnaru which is nt gonna happen and they will be under water for several years with their emi and bills unless another covid and lowineterest rate magic happens and which is not at all possible! 

[Vaampire]

2 hours ago, Sonu_Patel said:

30 year loan is big SCAM laga anpistundi

Us lo 30 yr loan interest rate general gaa 4% untadhi avge. India lo 8-10%.
 

if u think 30 yr loan is scam, then do all cash. 
All cash ki saripada cash ledhantav malli 30yr loan scam antav. Ur creating a deadlock 

[manchulomajjiga]

Basically e year avesi pade konestunna vallu anta covid time friends illu appreciate avatam avatam chusi adhe expect chestunnaru ! Adhi avadamma 

[Ravi860]

4 minutes ago, Vaampire said:

Us lo 30 yr loan interest rate general gaa 4% untadhi avge. India lo 8-10%.
 

if u think 30 yr loan is scam, then do all cash. 
All cash ki saripada cash ledhantav malli 30yr loan scam antav. Ur creating a deadlock 

ARM best e time lo find one for 10/6 for lower rate atleast @Sonu_Pateluncle so that you can pay less EMIs for few years and wait for rates to come down to refinance. 10yrs lo mostly back vachestadi min 4%. This is the only option in this situation if you want buy 

[Ravi860]

2 minutes ago, manchulomajjiga said:

Basically e year avesi pade konestunna vallu anta covid time friends illu appreciate avatam avatam chusi adhe expect chestunnaru ! Adhi avadamma 

Rao garu konnaru teddy garu konnaru.. ekkadiki vellina, cousins and friends tho weekend discussions anni houses gurinche.. peer pressure is so high like interest rates 

[manchulomajjiga]

5 minutes ago, Ravi860 said:

Rao garu konnaru teddy garu konnaru.. ekkadiki vellina, cousins and friends tho weekend discussions anni houses gurinche.. peer pressure is so high like interest rates 

❤️da emi kattetappudu g lo noppi vachedi ravu gariko teddy gariko kadu manake ! So a noppi barinchalsina avasaram ledu anukunnapudu yappie ga apartment lo vundachu ! Rates elago taggutayi recession vastundi kabati appudu a ravu garu teddy gari illu less loss lo ela ammali ani disco chestharu just wait