Keep in mind that every thousand dollars you finance translates to only about $5.00 more a month (if you're doing a 30 year mortgage). So, $163 versus $160 is only $15.00 more per month on your house note.
Just to be annoying, I'll counter the "only $15 more a month" argument with the amount you would pay for $3,000 over the course of 30 years (at 7%): $7,190.12. That's over 6,000 bottles of premium beer, my friend.
Cool! By the way, paying interest looks bad, but the alternative--saving up until you have $163,000--would be much worse. Glad you've found a place to settle.
13 comments:
160!
Not a lick over 159,999.
Sounds like a deal. Cute house, love the screen porch!
Keep in mind that every thousand dollars you finance translates to only about $5.00 more a month (if you're doing a 30 year mortgage). So, $163 versus $160 is only $15.00 more per month on your house note.
We took it. That was his lowest offer. We're doing the inspection next week.
Now they've come back and said the husband agreed on that price, but not the wife. So deal may be off. More to come. Grr...
Sounds (and smells) fishy to me..... are the husband and wife separated or divorced?
I don't think so. I'm getting close to balking.
Some people get so flaky when it comes to selling their homes. We had a hell of a time with the guy that we bought our house from ...
Anyway, good luck either way.
Just to be annoying, I'll counter the "only $15 more a month" argument with the amount you would pay for $3,000 over the course of 30 years (at 7%): $7,190.12. That's over 6,000 bottles of premium beer, my friend.
Thanks, Mike. I needed that. They decided to go with the original deal. Game on!
Cool! By the way, paying interest looks bad, but the alternative--saving up until you have $163,000--would be much worse. Glad you've found a place to settle.
Congratulations, neighbor!
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