Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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Quote:
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#17
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Would you be my financial advisor? Amazing 10 to 25% wow!
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#18
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Age doesn't matter.
In my humble opinion age doesn't matter. The lower your overall debt the better for whatever may come your way. Good Luck and Stay Healthy.
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Saving for my place in the sun. |
#19
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Check with VyStar CU there is no closing cost if you keep the loan for 3 years.
Last edited by Joeint; 05-19-2020 at 06:35 AM. Reason: spelling |
#20
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Some lenders will forgo closing costs
Probably better to talk to a mortgage broker who can explain the options available A broker will usually have lower costs than walking into a bank |
#21
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Any lender who delivers to Fannie Mae can refinance any term. It doesn't have to be a traditional 15 or 30-year debt. It can be any number of years you can qualify for. As to closing costs, if you save $300 a month and pay $5,000 in closing costs, you will break even after 17 months then be ahead from that point forward. |
#22
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You would probably need a very large ladder
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#23
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Check out the rates with Fairwinds CU in Leesburg if you are looking to refi. Great rates and easy to work with.
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#24
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Yep, not that hard to do before COVID, but you gotta know what you're doing or have a good financial advisor.
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#25
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Your both right , I’ve had 5 new homes in the villages . I’ve never put more then 20% down , with the low interest rates we’ve had for so long it’s a smart thing to do frees up a lot of money to do whatever you want. I got my last mortgage at 78 and I’ll be getting my next one at 82 lol . FYI and I never pay the bond off most buyers don’t care
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#26
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Wow, 10 and 25 percent gain in the market? Which market is that?
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#27
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I bought my house using a reverse mortgage. Put a little less than half down and will never have a principal and interest payment again. Will lose equity every month but have other things to leave.my son. Plus I have the other.half in the bank
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#28
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I am in the mortgage business and did a mortgage for.a 90 year old man with a 30 year mortgage. Guy was totally with it and the banks can not discriminate.
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#29
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I don't know what this HELOC (I think it is you typed) is, but, we just bought our home last Nov, over age 70, and had no problem securing a 30yr fixed. We wanted the "more than necessary down, for lower monthy note" route, as you are considering. We also went with First Citizen (I think it's called...the one here in TV), and got an extra discount on interest at veteran. Also some sort of savings for opening a checking account with them.
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#30
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It all depends on one's individual circumstances. Personally, we liked the peace of mind of not owing anyone anything. We're on our third home here; we did 2 with bridge loans, 1 with traditional 15 year mortgage, paid off all 3 within a year of when previous house sold. Also, we pay off cc balance in full every month, never had a car loan more than 3 years. I guess we just really hate paying interest. For us, living debt free and finally not worrying about money all the time is a comforting feeling. We have what we need.
Have always followed basic principles of budgeting, saving/investing: Pay yourself first. Live beneath your means. Dollar cost averaging. Don't take on more than you can afford.
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Medicated Vet ... For your protection. Quote from Boot Camp Company Commander: "I'm gonna have to issue you all plexi-glass belly buttons, so when you have your heads up your asses, you can at least see where you're going." |
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