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*Edit* The build will Go Forward!!!! (1 Viewer)

steveb

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Here’s a few good things:
I have good credit. 700’s
My debt to income ratio is low.
I’ve been employed with this current hospital for 4 years.

Bad things:
I have very little money in savings due to several medical bills these last 5 years.

No way to get 5-10% down.

FHA good credit 3.5% down
USDA 0% down
 

Tangs

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Where there is a will there is a way. I would consider using a drinking water safe hose from your apartment to the garage.
 

RR-MAN

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I need the 0% haha.

Never buy a house at 0% down...Too many dis-advantages.

How about leasing a house? You are not in mid-town it should be a little more money to lease a house in league city.

Why don’t you bring over the tank and set it up in my fishroom. I can have two nice frag tanks. [emoji23][emoji23][emoji23]
 

steveb

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Well paying rent you get exactly -0- equity in the home and true, mortgages are front loaded so that the bank gets their interest money early in the loan but typically you can pay extra to chip away at the principle. Yes there are different insurances and/or premiums you pay to put down a low amount but now is great time to buy. Interest rates are really low. Two years, five years from now who knows. The only disadvantage I see in buying right now (using any method) is in certain areas of town people are paying 10%-20% over market value.

There are rent to buy programs (I'm not talking owner rent to buy -- private company buys the property, you pay rent for some period of time - usually with no equity and rents go up each year. After X time if you choose to buy you pay over what they purchased house for.) but IMO those are worse than fha/usda with minimum down payment.
 
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Reefahholic

Reefahholic

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Found an awesome little place. Was On HAR for 5 days. Emailed and thought we would have it locked in for lease. Leased in only 2 days the lady told me. Bummer.

Had a nice fenced outside yard, 2 water hoses out the back door. A nice covered patio. I could have had plants in the yard. It would have been perfect for us. Errr.
 

BigRick

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Yes market is very hot right now in desirable areas.
They don't last 1-3 days in my neighborhood. I dont see prices dropping on homes in the next few years... take advantage of the loans now. I thought about moving to chappel Hill but thats only about 7 yrsof freedom before the suburbs catch up.
 

Tangs

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Not many but some hospitals have aquariums in their waiting rooms or patient lounges. I have seen 2 in hospitals and 3 in doctors waiting rooms. Seeing as you have been at a hospital for 4 years.
 

Tangs

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I do not see any dark clouds for our economies in the near future. Exception is covid ... which should be under better control in a few months.
 
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Reefahholic

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Well, I’ll be signing a new lease today at 5:30pm. I’m about a stones throw from the bay. Very quiet neighborhood with a lovely little backyard and small front yard with flower bed and palm tree by the front door. :) It’s a 2 bedroom 1.5 bath little Deplex. Slightly bigger than my apartment and definitely much much more relaxing. It’s literally one of my favorite roads that I would drive down to check the weather by the bay. Just happened to see a for lease sign and pulled in. I got the tank in the lease. My landlord lives on the other side, but she is a doll. She’s older and very nice lady. Loves plants and I think this is a good move for us. It’s not a luxury apartment, but I’m able to sit outside (FINALLY) and have a cup of coffee in the morning on our new backyard deck she just had built. It’s like a jungle in the back. In a good way. Well groomed with huge trees.

THE BUILD WILL GO ON!!!!

Just gotta get moved first. I’d say I’m an expert at moving so it won’t take me too long. So relieved!
 

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