They're looking between 270-300. And putting down 40-60 depending on when they find something. He was wondering if he should use his VA loan or go after fha, usda

 

VA loan is preferable if he qualifies. If he put 60k down on 300k he shouldn't have any problems even with a lower fico. He'd also avoid the dreaded PMI

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Reading this thread makes me appreciate still living at home.  26 years old and I don't have to deal with this stuff. Holla!

Ummm...congratulations.

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What in the Wide Wide World of Sports is agoin' on here???

Ummm...congratulations.

 

Thank you.  I deleted my original response since I'm really trying to be nice this year.  My response stated: I'm not sure what's worse, the fact that you're living at home at the age of 26 or the fact that you're actually posting it on this board.

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Reading this thread makes me appreciate still living at home.  26 years old and I don't have to deal with this stuff. Holla!

 

I thought all of those comments about posting on the board from your mom's basement were just a figure of speech.

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More down,

 

I love it when chicks tell me that.

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I thought all of those comments about posting on the board from your mom's basement were just a figure of speech.

 

You funny guy!

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Thank you.  I deleted my original response since I'm really trying to be nice this year.  My response stated: I'm not sure what's worse, the fact that you're living at home at the age of 26 or the fact that you're actually posting it on this board.

 

Maybe he's just saving money? 26 isn't that old he might be a couple years out of school?

 

hard for me to tell I started a family at 20 so it was grow up time real fast for us.

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Maybe he's just saving money? 26 isn't that old he might be a couple years out of school?


hard for me to tell I started a family at 20 so it was grow up time real fast for us.

It's old enough.

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What in the Wide Wide World of Sports is agoin' on here???

Someone mentioned VA loans. Yes, if you are a vet, you're eligible for a great deal. You hardly have to pay any closing costs, because it's not allowed. There's a funding fee for VA, but if it's your first time using the eligibility you get a cut and if you are disabled, more of a cut off of the funding fee.

 

FHA loans are good too, only need 3.5% in to the loan. Credit good, but not as good as with a conventional loan.

 

Conventional loans will yield the best rates, but you have to have better credit to qualify.

 

PMI, yeah it's extra money, but some folks don't have a hefty 20% to put down. If you do, then do it, but otherwise you pay PMI until you get the loan to 80% LTV.

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Maybe he's just saving money? 26 isn't that old he might be a couple years out of school?

 

hard for me to tell I started a family at 20 so it was grow up time real fast for us.

 

Yes, probably just obtained his Masters, has difficulty understanding loans, and is staying home with mom to rest up prior to getting that CEO position that recently opened at Seaworld.

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Yes, probably just obtained his Masters, has difficulty understanding loans, and is staying home with mom to rest up prior to getting that CEO position that recently opened at Seaworld.

Uh huh...and any girl he may pick up and want to spend the night at Moms, prolly named after Shamu.

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Blakes Life Matters

Maybe he's just saving money? 26 isn't that old he might be a couple years out of school?

 

hard for me to tell I started a family at 20 so it was grow up time real fast for us.

 

In this economy, and the way the housing market is, staying at home is becoming a better economic solution. 


My mother-in-law paid off our house when we had it built (I inherited the house from my grandmother, and it was falling apart).  We ended up paying a very small portion on it ourselves (about 6%), but that's really all we could afford.  My family couldn't support paying a mortgage on top of all the other bills we have and taking care of 5 kids.  No way, no how.

 

I know married couples that live with one or the other's parents.  And my cousin and his girlfriend live with his parents, and he's 27.  

 

I don't see why people look down on people who live with their parents past any certain age.   My uncle lived with his mother until she died.  That was well into his 40's.  It's not as if he didn't have a job, and I imagine you could probably say the same thing about the dark passenger. 

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I was wrong about Trent Baalke. 

Uh huh...and any girl he may pick up and want to spend the night at Moms, prolly named after Shamu.

 

Now I know I'm getting old because I haven't even thought about that aspect of being in my 20's.   That's the prime time of life right there !!!

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In this economy, and the way the housing market is, staying at home is becoming a better economic solution. 


My mother-in-law paid off our house when we had it built (I inherited the house from my grandmother, and it was falling apart).  We ended up paying a very small portion on it ourselves (about 6%), but that's really all we could afford.  My family couldn't support paying a mortgage on top of all the other bills we have and taking care of 5 kids.  No way, no how.

 

I know married couples that live with one or the other's parents.  And my cousin and his girlfriend live with his parents, and he's 27.  

 

I don't see why people look down on people who live with their parents past any certain age.   My uncle lived with his mother until she died.  That was well into his 40's.  It's not as if he didn't have a job, and I imagine you could probably say the same thing about the dark passenger. 

 

We don't look down .... it's just a good way to make jokes as we pass time through a boring day.   It's a topic that opens itself up for humor.  Kind of like the communication going on in the College Thread right now (What if Jameis falls to #3) .....

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It's popular in other countries to live with parents until married. I just enjoy the living in your mom's basement jokes. When I was 13 I moved to the basement and finally moved out when I enlisted.

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We don't look down .... it's just a good way to make jokes as we pass time through a boring day.   It's a topic that opens itself up for humor.  Kind of like the communication going on in the College Thread right now (What if Jameis falls to #3) .....

I mean in general.  Anytime I see Doctor Phil on television, he's usually talking about how someone should be moved out of their parents house by the time they're 18.   It's a sentiment held by many.  I mean yeah, you should want some freedom.  But you also have to have economic security.  I couldn't sleep at night if I didn't know my kids had a warm bed to sleep in, and a good meal in their stomachs.  I dread the day they turn 18 and go off to college.  It's why I hope they go close.  So they can at least come home for a good meal now and again.  

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I was wrong about Trent Baalke. 

I guess I'm just getting old.  I couldn't hardly wait to get out on my own and did so at the age of 18.  By the time I was 26 I was on my second wife, had a great job with great benefits (U.S. Navy) as well as a wife and kids.  I also was close at the time to buying my first home.  I don't regret one bit of it.

 

As far as the OP's question, I would sit down in front of a spreadsheet and do the math.  Gather all of the data that you can, and work out both scenarios to see which one would be more beneficial.

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There are 10 kinds of people in this world.  Those who understand binary and those who don't.

Had I lived in my parents' basement at age 26, where would I have grown my weed?

 

Dad hated the smell in the house.

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If something can corrupt you, you're corrupted already.
- Bob Marley


 

In this economy, and the way the housing market is, staying at home is becoming a better economic solution. 

My mother-in-law paid off our house when we had it built (I inherited the house from my grandmother, and it was falling apart).  We ended up paying a very small portion on it ourselves (about 6%), but that's really all we could afford.  My family couldn't support paying a mortgage on top of all the other bills we have and taking care of 5 kids.  No way, no how.

 

I know married couples that live with one or the other's parents.  And my cousin and his girlfriend live with his parents, and he's 27.  

 

I don't see why people look down on people who live with their parents past any certain age.   My uncle lived with his mother until she died.  That was well into his 40's.  It's not as if he didn't have a job, and I imagine you could probably say the same thing about the dark passenger.

I completely respect Dark, and everyone's situation is different, but you've got to admit his post didn't come across so much of staying at home to save for the future as it did of Yay...I'm still living at home so I don't have to worry about these grown up things yet!

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What in the Wide Wide World of Sports is agoin' on here???

Had I lived in my parents' basement at age 26, where would I have grown my weed?

 

Dad hated the smell in the house.

 

 

I'm not really getting this.

 

Colorado has ruined so many jokes for me

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