Refinance Costs for your house in LI (Ovid: refinancing, loans)
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Do you prefer renting? Cuz thats the real waste of $$
No I prefer no mortgage. I don’t like giving my money away to scumbag banks.
If you need to take a mortgage, pay it off as fast as you can, no matter what it takes.
Ramen noodle diet and a 1988 Corolla. So what.
Btw...numerous studies have shown renting vs owning over a lifetime is actually far cheaper than home ownership. All things thrown in. But owning a home outright with no mortgage is definitely more rewarding.
No I prefer no mortgage. I don’t like giving my money away to scumbag banks.
If you need to take a mortgage, pay it off as fast as you can, no matter what it takes.
Ramen noodle diet and a 1988 Corolla. So what.
Btw...numerous studies have shown renting vs owning over a lifetime is actually far cheaper than home ownership. All things thrown in. But owning a home outright with no mortgage is definitely more rewarding.
Those studies are assuming renters are investing the $$ they didn't use for a down payment or the savings over not buying due to 3-5% down. Today's rates are so low it's free $$ I am paying 2.5% on a 20yr I can out earn the interest by accident in the markets over the next 20 years. No reason to pay more than minimum ever at these rates.
I own a corolla, cause I like my $$ and Toyota makes cheap efficient reliable vehicles. It's 30 years newer than the suggested 88.
It’s all a ripoff anyway.
Mortgages. Interest.
Everyone getting raped.
Even a deal isn’t really a “deal”.
It’s still financial rapery.
Just the word “mortgage” makes me ill.
At 2.375% I'd say if not raping them, I'm getting to third base pretty easily. Factor for inflation and it's almost free money. Math.
At 2.375% I'd say if not raping them, I'm getting to third base pretty easily. Factor for inflation and it's almost free money. Math.
Almost only counts in horseshoes and hand grenades.
Look at that statement where it says interest over life of loan.
I don’t care if it’s 0.2%, it’s too much. It’s thousands upon thousands of dollars you throw away to keep hack banks in power. No thanks.
No I prefer no mortgage. I don’t like giving my money away to scumbag banks.
If you need to take a mortgage, pay it off as fast as you can, no matter what it takes.
Ramen noodle diet and a 1988 Corolla. So what.
Btw...numerous studies have shown renting vs owning over a lifetime is actually far cheaper than home ownership. All things thrown in. But owning a home outright with no mortgage is definitely more rewarding.
Where can you borrow money for 3% for 30 years? And have it insured? I’ll keep my money in my investments & borrow as much as I can for 3%. Factor in inflation & mtg interest deductions = FREE MONEY TO BORROW. Basic economics.
Almost only counts in horseshoes and hand grenades.
Look at that statement where it says interest over life of loan.
I don’t care if it’s 0.2%, it’s too much. It’s thousands upon thousands of dollars you throw away to keep hack banks in power. No thanks.
Average inflation over life of life (1914-2021) = 3.23%
My loan = 2.375%
Net = .855 they are effectively paying me for borrowing their money. Give or take.
Only in Amerikkka with a runaway Fed play money spending spree could my mortgage be a hedge against inflation, lmfao!
Last edited by monstermagnet; 03-04-2021 at 11:37 AM..
Where can you borrow money for 3% for 30 years? And have it insured? I’ll keep my money in my investments & borrow as much as I can for 3%. Factor in inflation & mtg interest deductions = FREE MONEY TO BORROW. Basic economics.
I agree 100 percent. Especially when the average market return is 7 percent. Also don’t forget the tax deduction for the mortgage interest early on in the loan since our taxes are so high you are able to itemize most likely and receive a benefit from it.
Silly Americans. You. Just. Don’t. Get. It.
Baaaahhh.
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Math.
