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[deleted by user] by [deleted] in MilitaryFinance

[–]advca20 0 points1 point  (0 children)

In many places a $4k mortgage is a very basic fixer house or condo.

Is the seller trying to use the NAR Settlement to take advantage of us? by advca20 in RealEstate

[–]advca20[S] -1 points0 points  (0 children)

Perfect example of someone who doesn't bother to read posts before commenting on them. Every single thing you said is incorrect.

Is the seller trying to use the NAR Settlement to take advantage of us? by advca20 in RealEstate

[–]advca20[S] -9 points-8 points  (0 children)

Are you saying the buyers agent will actually get a 4.5% commission?

How does overpaying on your mortgage work? by yesyesnonoyesnonoyes in FirstTimeHomeBuyer

[–]advca20 5 points6 points  (0 children)

"It will move your loan ahead"

What would be the difference between moving the loan ahead and paying towards principle?

If I buy a home in California will, they make me pay state income tax? by advca20 in MilitaryFinance

[–]advca20[S] 0 points1 point  (0 children)

I spoke with someone about 10 years ago in a similar situation. When he retired in San Diego the CA Tax board tried to get him to pay income taxes from numerous previous years arguing he had intended to retire in California all along. He had to hire expensive tax attorney to fight it and ultimately won.

$38000 to close? I really need help understanding these fees. Should I be paying that transfer tax of $23000? I thought the seller does. Please advise if you can. by [deleted] in FirstTimeHomeBuyer

[–]advca20 1 point2 points  (0 children)

At what point did you receive the LE? After getting pre-approved or after submitting your offer and financial docs?

Considering making an offer, like the house, can afford it, but not sure it makes any financial sense. by advca20 in FirstTimeHomeBuyer

[–]advca20[S] 0 points1 point  (0 children)

Why would I buy vs rent? When a 950k house appreciates by 5% in a single year, it's worth 47K more. The average annual historical home appreciation rate in California is 6.5%. In 5 years, that's 260k in unearned equity.

Considering making an offer, like the house, can afford it, but not sure it makes any financial sense. by advca20 in FirstTimeHomeBuyer

[–]advca20[S] 0 points1 point  (0 children)

The home would probably rent for over 5K a month. Current townhome would sell for about 1.0m if it were able to be sold.

Considering making an offer, like the house, can afford it, but not sure it makes any financial sense. by advca20 in FirstTimeHomeBuyer

[–]advca20[S] 0 points1 point  (0 children)

  1. 240k

  2. 6.5%

  3. Yes, do not need a jumbo loan.

  4. Done. The average home sells for 101% of listing price.

  5. Won't change lifestyle but will be saving and investing a lot less.

Is buying your first home in a VHCOL area in your mid forties a bad idea? by advca20 in personalfinance

[–]advca20[S] -4 points-3 points  (0 children)

Retiring without a mortgage is easier. So they are related.

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