House cost

[Quickgun_murugan]

8 minutes ago, Lukewalker said:

FHA loan valla benefits - you will get a loan for as low as 3.5% down payment. They are no strict rules as convetional loan. Interest rates are usually low compared to convetional loan, but takkuva interest ichina MIP lo dobbestaadu. 

FHA valla disadvantages - MIP (Mortgage Insurance Premium) will be throught out the life of the loan, for $400k loan it is approx $150  per month. conventional loan lo ayite loan to house value 78% raagane automatic ga MIP pothundhi. 

as the guy above said, if you want to get rid of MIP you have to refinance. 

why go for FHA loan: for 3.5% down payment, you can secure a loan, in an year or two, when interest rates are low and when house value appreciates (78% loan to house value ratio) , go for refinance, as house value appreciated, you dont need to put extra downpayment. lot of money is not tied up in your house this way, you can sell when you want without loosing much. 

PMI aa MIP aa? are they both same or different? with 3.5% downpayment.. for a 400k house monthly entha untadi bhayya payments..including taxes insurance and everything?

[chicchara]

5 minutes ago, Quickgun_murugan said:

PMI aa MIP aa? are they both same or different? with 3.5% downpayment.. for a 400k house monthly entha untadi bhayya payments..including taxes insurance and everything?

https://www.zillow.com/mortgage-calculator/

http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx

[Lukewalker]

12 minutes ago, Quickgun_murugan said:

PMI aa MIP aa? are they both same or different? with 3.5% downpayment.. for a 400k house monthly entha untadi bhayya payments..including taxes insurance and everything?

Conventional mortgages = private mortgage insurance (PMI).

FHA loans mortgage insurance premium (MIP).

same shyte different wording anthe. 

https://www.whatsmypayment.com/FHA/ - here you can calculate your payment, it will also show MIP. taxes differes from county to county, and even insurance

[acuman]

On 8/1/2016 at 9:22 AM, MegaPowerRockstar said:

Asalla house kona ley ante... requirements ente ? Financial perspective lo ... 

100k house aythe 5k$ vunte chalu.

and should able to demonstrate you are employed or monthly pay is coming proportionate to house cost.

5k pay cheque ki 500k house varaku no problems.

[acuman]

Mana vallu 99.99% illu or kotta car cash down chesi  kona leeru.

Sommu okadadi soku and apr inkokadi concept. Ekkuva or takkuva emi leedu.

 

Us lo illu or car rates peruguthayi ani konakandi.

evvadi kanna chebithe ____tho navvutharu.

[Lukewalker]

6 minutes ago, acuman said:

Mana vallu 99.99% illu or kotta car cash down chesi  kona leeru.

Sommu okadadi soku and apr inkokadi concept. Ekkuva or takkuva emi leedu.

 

Us lo illu or car rates peruguthayi ani konakandi.

evvadi kanna chebithe ____tho navvutharu.

em cheptham anukunnav mama? how many people put cash down iin buying a house? 

Do you know 4% investment rule? if your loan APR is less than 4% , you might invest that money somewhere else and get profit rather than putting 100% down. 

GCs immanu, manollu 99% kadhu 120% petti konipadestharu homes and cars. challa americ@ns kante manadhe decent lifestyle even though we are in long lines for gc and living with uncertainity

[Quickgun_murugan]

17 minutes ago, acuman said:

Mana vallu 99.99% illu or kotta car cash down chesi  kona leeru.

Sommu okadadi soku and apr inkokadi concept. Ekkuva or takkuva emi leedu.

 

Us lo illu or car rates peruguthayi ani konakandi.

evvadi kanna chebithe ____tho navvutharu.

car aithe I agree with you.. but illu definitely loss em undadu bro.. for within 500k houses.. above 500k nuvvannattu navvochu..

[acuman]

8 minutes ago, Lukewalker said:

em cheptham anukunnav mama? how many people put cash down iin buying a house? 

Do you know 4% investment rule? if your loan APR is less than 4% , you might invest that money somewhere else and get profit rather than putting 100% down. 

GCs immanu, manollu 99% kadhu 120% petti konipadestharu homes and cars. challa americ@ns kante manadhe decent lifestyle even though we are in long lines for gc and living with uncertainity

Ekkuva Dabbu nilava leedu ani feel kanakkara leedu, konukkovachhu ani chebuthunna

[Lukewalker]

2 minutes ago, acuman said:

Ekkuva Dabbu nilava leedu ani feel kanakkara leedu, konukkovachhu ani chebuthunna

endho mama, ee sentence kuda ardham avvale

[crazymatta]

thanks @Lukewalker kodiga idea vachindhi. iga proced aytha emana clarificatons kaavali ante will pm u naa matta

[kasi]

On 8/1/2016 at 10:26 AM, TOM_BHAYYA said:

10% down cheyadaniki savings unnaya ? First

5% ki kuda chala banks loans istharu bhayya

[kasi]

On 8/1/2016 at 10:37 AM, Lukewalker said:

20% down pedithe, mortgage interest undadhu, lekapothe monthly $150-$500 mortgage interest pay cheyyali extra.. 

good credit score undali.

20% down bank lo atleast 6 months savings account lo eady approval. 

main market ela undhi follow avvali, there is no point of buying a $500k house when median price is $150 in that area, sell chesetapuudu evadu konadu. 

condo vs single family house pros and cons chuskovali. there is big list here, some prefer condos and HOA while some like independent single family

take in to considertaion, mortgage + interest + taxes + insurance, ideally if this is below 30% of your income, you should be good. 

rent vs buy calculator lo chusko http://www.realtor.com/mortgage/tools/rent-or-buy-calculator/ this shows how much you should be able to buy or if it is good to rent. 

also consider repairs, maintenance, lawn mowing, fall clean up, HVAC maintenance etc., 

200K house ki max untea 100$ mortgage insurance  

[kasi]

On 8/1/2016 at 10:54 AM, Telugu_ammayi said:

h1 lo house konnacha ?

errifukk prasna

[kasi]

22 hours ago, Quickgun_murugan said:

FHA loan ki H1 lo vallu qualify avthara?

yes

[kasi]

19 hours ago, thokkatholu said:

Dont buy now. Market at its peak. Prices will go down.

200+