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  1. #41
    Join Date
    Aug. 29, 2009
    Location
    Central Florida
    Posts
    120

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    I'd take the longer mortgage, then every month, put extra money toward the balance. I think it works out better than taking the shorter term mortgage (but of course, you have to commit to putting the extra towards the principal monthly).


    2 members found this post helpful.

  2. #42
    Join Date
    Apr. 10, 2006
    Posts
    7,388

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    Snow I am super happy for you! Nice you got a prompt response-- we bid on a short sale in 2009 and we waited 5 months with no response from the bank! Finally just killed the deal.

    Like others said, if you are "meh" about it you don't have to go through with it.... follow your gut instinct. But it does look adorable, the price is great, and gosh with the state of the boarding situation here in WNY.... it will be nice for you to have your horses at home!
    We couldn't all be cowboys, so some of us are clowns.


    1 members found this post helpful.

  3. #43
    Join Date
    Dec. 19, 2008
    Location
    Where The Snow Flies
    Posts
    2,698

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    I went to the bank and spoke to my financial adviser and the mortgage officer and I think what the plan is that I'll put 20% down and do a 15 year mortgage. My monthly mortgage payments will still be less than $400 a month and it's a whole lot less daunting than a 30 year note. That makes me feel so much better about the whole situation.


    11 members found this post helpful.

  4. #44
    Join Date
    Jan. 31, 2003
    Posts
    18,472

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    Sounds great Snowflake! Enjoy your new home
    "Kindness is free" ~ Eurofoal
    ---
    The CoTH CYA - please consult w/your veterinarian under any and all circumstances.



  5. #45
    Join Date
    Oct. 28, 2007
    Location
    Virginia
    Posts
    1,581

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    Geez, I want 4 acres, a pond, a barn and a house for $400/month!!!!!!

    Good luck and best wishes in your new home!



  6. #46
    Join Date
    Sep. 13, 2002
    Location
    Pacific Northwest
    Posts
    5,296

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    Man, that payment wouldn't even cover one month's board here!

    Good for you...best of luck with your move!


    1 members found this post helpful.

  7. #47
    Join Date
    Dec. 31, 2000
    Location
    El Paso, TX
    Posts
    13,820

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    Get an inspection by a licensed inspector.



  8. #48
    Join Date
    Dec. 19, 2008
    Location
    Where The Snow Flies
    Posts
    2,698

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    Quote Originally Posted by jetsmom View Post
    Get an inspection by a licensed inspector.
    My father is a retired structural engineer who did custom home building, my brother has his licenses in plumbing and electric, and my friend is an architect. They've all been through the house with me. They've all given it the thumbs up. What minor problems there were, we can fix ourselves. A hired home inspector is not necessary in my world.


    3 members found this post helpful.

  9. #49
    Join Date
    Jul. 31, 2007
    Posts
    16,023

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    Quote Originally Posted by Snowflake View Post
    My monthly mortgage payments will still be less than $400 a month and it's a whole lot less daunting than a 30 year note. That makes me feel so much better about the whole situation.
    Indeed. That sounds pretty gosh darn unbeatable.
    The armchair saddler
    Politically Pro-Cat



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