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Forum ยป How do can people afford houses nowadays?
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Thread: How do can people afford houses nowadays?

post 1539270861 01-02-2018, 06:56 AM
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#121
  1. BearyManilowe
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Originally Posted By guest89⏩
If you can't save a 40k down payment you're not ready for a home financially.
This could be the most retarded thing I've ever read here. And we have JaymzJ as a regular poster.
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post 1539270941 01-02-2018, 06:57 AM
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#122
  1. martin545
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Dual income, No Kids, Decent Jobs, Good Credit Score
Help from parents
Save for a few years
Starter house: <$200k
post 1539270971 01-02-2018, 06:58 AM
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#123
  1. DesiredUserphag
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They don't usually. The bank does.
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post 1539271321 01-02-2018, 07:05 AM
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#124
  1. Flognutz
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Originally Posted By DesiredUser****⏩
They don't usually. The bank does.
This.....Owning your own home, with a 30 year mortgage and the 40 hour work week is the biggest scam on earth.
post 1539275321 01-02-2018, 08:02 AM
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#125
  1. EdwardTheGreat
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Originally Posted By 1slo5oh⏩
I have 2 houses... both as easy as applying for a Mortgage loan through my bank... good negotiation will cut your closing costs and most of the money you need to bring to the table. one was bought as a foreclosure and both financed on 15yr loans... One I rent for enough to cover both mortgages...Maybe I am not seeing what is so complicated about it?

How much did you pay for your houses? There are some beautiful houses in the States that I have seen at $150,000 which in Toronto would be $1,000,000. Here in GTA, price of houses is nuts. If I didn't manage to get into a mortgage back when I did, buying a house now would be extremely difficult unless buying in a totally sh*t area of Toronto.

When I bought my first house years ago, it was $420,000 and I only put down $25,000. Sold it after 4 years and walked away with $170,000 in my pocket which went towards next house. I am not in a fancy house, but it is currently worth just north of $900,000. Was only worth about $550,000 when we moved in.

Not sure how young people are supposed to do this now without 1) major help or 2) major sacrifice. Most will be condemned to condo life.
post 1539276561 01-02-2018, 08:15 AM
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#126
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Either save up a ton of money for an expensive house or drive 20-40minutes to wrk everyday and buy inside your price range.

GTA prices are lulzy. Only place in Canada more ridiculous is Vancouver which is pants on head retarded
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post 1539277181 01-02-2018, 08:23 AM
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#127
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Wait for the housing market to collapse again.
post 1539277581 01-02-2018, 08:29 AM
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#128
  1. Messiahtype
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Bought first house
$196K with $30k down
Sold 5 years later $238K

Bought second house for $937k with $165k down, a large part of which came from the sale of the first house.
post 1539277671 01-02-2018, 08:31 AM
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#129
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I'm in that boat too, only have 5K saved up for a down payment so far though fml
post 1539277921 01-02-2018, 08:34 AM
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#130
  1. JPF82
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Originally Posted By Messiahtype⏩
Bought first house
$196K with $30k down
Sold 5 years later $238K

Bought second house for $937k with $165k down, a large part of which came from the sale of the first house.
Your math isn't adding up bruh, but whatever I aint trying to argue this chit.
post 1539277991 01-02-2018, 08:35 AM
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#131
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page 1 of this thread is IQ cancer



also, maybe OP is not aware of FHA or conventional '97 loans?


You only need like 3% to get a decent rate and the PMI is paid by the lender. So for a 200K house only 6K needed to secure a decent loan. Not sure where 40K is coming from, unless you're going for a 20% down payment right off the bat, which is retarded unless you have a ****load of disposable income.

Of course you will get a lower interest rate with a conventional loan but will need a higher down payment, and will pay PMI until you've paid 20% of principle and refinance.
Originally Posted By JPF82⏩
Your math isn't adding up bruh, but whatever I aint trying to argue this chit.
how does that math not add up?
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post 1539278121 01-02-2018, 08:37 AM
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#132
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Originally Posted By JPF82⏩
Your math isn't adding up bruh, but whatever I aint trying to argue this chit.
I didn't say the equity payed for the whole down payment on house #2, just saying the equity I did have went towards home 2.

My wife and I both make substantially more in 2017 than we did in 2011.
post 1539279401 01-02-2018, 08:54 AM
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#133
  1. yoxnick
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Originally Posted By wi****couldlast⏩
Judging by the Grammar in your title i how do not understand how do u do
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