Quote:
Originally Posted by thevillages2013
Ok so do you understand down payment? Also this guy was here probably renting a house for a month, playing golf at $64 a pop x2 (wife also) x10 rounds plus eating out (references that) and wife shopping. $5000 dollar house my @$$ he dropped $5000 here.
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Gee, no. Somehow I got to be 70 years old and never understood the idea of a down payment. Thanks for explaining it to me.
I wasn't counting eating out and golf and "wife shopping" since that is immaterial to the process of buying a home. However, even if you count those things, 5K is 20% of 25K. Nice houses here abound for 25K, for sure.
Or, maybe he pays a few extra points and gets a 5% down mortgage, he can now buy a 100K home. Lots of those available in TV now as well.
Next time I need a life coach, I'll be sure to PM you.