7000$ mortgage

[Telugodura456]

2 hours ago, tokkalogola said:

Insurance 1k aaa 🤔

Yes dallas lo vadagallu, thoofans ki roofs lechipthayi. So it will be around 10k for 1.5 milll house or even more.

[Telugodura456]

1 hour ago, csrcsr said:

per year kavochu anna

No for month. But specific to dallas or north texas region.

[csrcsr]

1 minute ago, Telugodura456 said:

No for month. But specific to dallas or north texas region.

whaaaaat vammo

[chammakchandra]

8 hours ago, BulletBaskar said:

ye oorlo untadi va 7000?

are you guys talking about 1 or 1.5 million houses?

Yes 1 or 1.5mill houses .. saw few making those payments as wife m hub both working 

[tokkalogola]

1 hour ago, Telugodura456 said:

Yes dallas lo vadagallu, thoofans ki roofs lechipthayi. So it will be around 10k for 1.5 milll house or even more.

Endi anna adi antha cost aaa ... intha cost unna maa desi batch intha la velthunaru ante there is something is Dallas except biryani and irani chai 🤔

[Manishican]

Stock market is high. People are confident about their jobs. Also People are confident fed will bring down interest rates as soon as they see signs of recession as fed has done this multiple times.

[AreyOSamba]

On 7/26/2023 at 2:37 PM, Sonu_Patel said:

 

worst case scenario ... $7000 multiply by 30 years = $7000 X 12 X 30 is $2.5 million dollars will be total cost for the mortgage...

 

If they can afford $7K payments, Don't you think people can do a recasting lower their payments or pay additional payments and close the loans sooner than 30 years?

[ARYA]

On 7/26/2023 at 2:30 PM, Android_Halwa said:

House prices peak vunapudu high interest rates tho house koni hoping interest rates will come down one fine day ani wait chesthe iga ayinatte…gains motham interest rate la kottukupoinaka inkemi home equity build ayitadi ra ayya…

Imagine even if rates climb down, about 3-5 years from now to 3% levels, apativaraku entha interest kadutaru ra Babu…apudu refi chesina peddaga upayogam emi vundadu..

3-5 yrs ante oka 100k additional intrest kadataremo oka medium single family home ki

[krishnaaa]

On 7/26/2023 at 3:30 PM, Android_Halwa said:

House prices peak vunapudu high interest rates tho house koni hoping interest rates will come down one fine day ani wait chesthe iga ayinatte…gains motham interest rate la kottukupoinaka inkemi home equity build ayitadi ra ayya…

Imagine even if rates climb down, about 3-5 years from now to 3% levels, apativaraku entha interest kadutaru ra Babu…apudu refi chesina peddaga upayogam emi vundadu..

Also, people think that home prices will increase when rates go down this time as well which is not true.

When interest rates go down, more inventory will come into the market which will balance things out.

[pakeer_saab]

On 7/26/2023 at 2:30 PM, Android_Halwa said:

House prices peak vunapudu high interest rates tho house koni hoping interest rates will come down one fine day ani wait chesthe iga ayinatte…gains motham interest rate la kottukupoinaka inkemi home equity build ayitadi ra ayya…

Imagine even if rates climb down, about 3-5 years from now to 3% levels, apativaraku entha interest kadutaru ra Babu…apudu refi chesina peddaga upayogam emi vundadu..

refinance can only if they plan to change the loan to 15 yrs and be ready to pay even more than 7000$, that is the only way they can come out of this mess

[Telugodura456]

5 hours ago, pakeer_saab said:

refinance can only if they plan to change the loan to 15 yrs and be ready to pay even more than 7000$, that is the only way they can come out of this mess

can you elaborate this logic ?