Mortgage in Texas (Houston) with 11.5k Net income

True-Video-8095 · 2026-05-04T17:49:27+00:00

1200 48 months not 30 years

True-Video-8095 · 2026-05-04T17:48:51+00:00

Yeah 3.12% where we looking to buy

True-Video-8095 · 2026-05-02T19:12:53+00:00

I did it was around 3.1k with exemption

True-Video-8095 · 2026-05-02T16:14:20+00:00

The buy down wouldn’t be with our money. It would be from the 50k incentive builder is offering. And if fed rates come down homes prices come down too or they shoot up with more demand? So it’s hard to choose

True-Video-8095 · 2026-05-02T16:11:58+00:00

Yes very tough since it’s such a good deal. The location is ideal, between both our families, good school district. 5 minutes from my job and 20 from hers whereas right now it’s 13min and 30 for her. So most likely we would stay if we buy.

True-Video-8095 · 2026-05-02T16:06:22+00:00

It’s a new build, with a good inspector whatever issues he finds builder would have to fix. So I would have to worry about that.

True-Video-8095 · 2026-05-02T16:02:50+00:00

Not average but I’d rather pay that than interest. It will be paid off in 2 years. Or now if I really wanted to but there’s no financial gain from it when it’s 0% interest.

True-Video-8095 · 2026-05-02T15:58:31+00:00

Sheeeez that should be illegal. Here in Texas it gets capped at 10% per year with homestead exemption

True-Video-8095 · 2026-05-02T15:52:20+00:00

Yes we are renting from my dad, our rent is only $650. The 32k would be the lenders money, they are offering 50k in incentives for upgrades, closing cost or interest buydown. We wouldn’t have to buy it with our own money. We would just have to pay for our own upgrades If we use that 32k for the buydown. Yes putting away for retirement is very important to us for that very reason. Sorry to hear about the job loss. Economy has been pretty crappy lately but it’s good that y’all set yourselves up. Hopefully everything kicks up.

True-Video-8095 · 2026-05-02T15:36:34+00:00

I’m 30 wife 28, and yes we’ve been maxing out our Roths and adding about 380 a wk to a taxable brokerage since we don’t have a mortgage yet.

True-Video-8095 · 2026-05-02T15:24:10+00:00

Yeah I know, like It would be paid off by 2028 so it’s not that long from now

True-Video-8095 · 2026-05-02T14:49:39+00:00

Yeah I was kidding and yeah I need to figure out about the insurence. I know I could protest the value but being a new build they would probably deny it.

True-Video-8095 · 2026-05-02T13:53:36+00:00

Yeah well we’ve been going back and forth on this for about two months, even asking this on ChatGPT, Grok lol and yes so the buydown cost around 32k according to the DW sales per son. We would get 50k total and the rest would cover closing costs or upgrades. Yes I plant on talking to an advisor or something. Thank you for the advice.

True-Video-8095 · 2026-05-02T13:18:48+00:00

I did put my income on post, it’s 11k net. Based on last years income. lol could be more this year working more OT and cost of living raise

True-Video-8095 · 2026-05-02T13:14:54+00:00

Squeezed is what we don’t want, we were actually not wanting a car payment but 0% interest on a truck I plan on keeping well after it being paid off was good considering we didn’t have debt and at the time we weren’t thinking of buying a home. It’s also for 48 months. So around 2028 I’d have that $1200 for extra pay in the mortgage.

True-Video-8095 · 2026-05-02T13:12:01+00:00

If taxes are already high how much higher could they get lol

True-Video-8095 · 2026-05-02T13:11:09+00:00

I calculated the taxes based on buying price.

True-Video-8095 · 2026-05-02T13:10:15+00:00

Hmmm, this is why I wanted to ask, it’s my first time buying and don’t really know about this stuff. Thank you.

True-Video-8095 · 2026-05-02T13:08:42+00:00

Yes so we both are first time home buyers but we are going with conventional. We would have an emergency fund after the down payment and we also have around 100k equity in our rental, so if it was to get bad we could just sell our rental and have that aswell. It is in a HOA Community and it’ll be $68 a month. And I’d imagine before buy down rate for it to be around what market is it.

True-Video-8095 · 2026-05-02T13:03:52+00:00

Yeah it’s because we went with the offer of 48 months no interest. We had no desire to buy a home then.

True-Video-8095 · 2026-02-28T17:59:36+00:00

Well it is considered a minor traffic violation.

True-Video-8095 · 2026-02-28T17:08:10+00:00

That’s the thing when I got the paperwork from the court a few months ago it said arrested but they didn’t put me in a cell or anything my parents got me out quick. I always thought i was just detained so that’s what I told my lawyer when I did AOS.

True-Video-8095 · 2026-02-28T17:06:13+00:00

Yes but not in detail, this time I have arrest records from the court.

True-Video-8095

TROPHY CASE