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/biz/ - Business & Finance

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55104862 No.55104862 [Reply] [Original]

>30 year mortgage

>> No.55104871

My parents bought a house for 74k in 1984 with 20k down payment and it was paid off by 1995

Some basedboy gay couple offered my parents 2 million for the house a few months ago

>> No.55104874
File: 134 KB, 296x356, 1CEEB438-0FD0-47E6-934F-E594541F7088.png [View same] [iqdb] [saucenao] [google]
55104874

>>55104862
>buying your house for cash and only paying property tax/maintenance

>> No.55104882

>>55104862
>>55104871
you vill pay a variable rate 30 year 600k mortgage and be happy about it

>> No.55104888
File: 190 KB, 374x454, 1434817150839.png [View same] [iqdb] [saucenao] [google]
55104888

>sharing the bathroom with your 70 year old parent

>> No.55104893

>>55104871
If you make good money you can buy house like in 10 years, low wagie cucks are just retards

>> No.55104896

>>55104893
>tripfag
>mentally retarded nigger
like clockwork

>> No.55104906

>>55104862
>30 year mortgage
And only with 7.2% interest! Don't know what these kids are complaining about in my day the 30 year rate was over 10%

>> No.55104909
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55104909

>>55104874
>paying hundreds of thousands of dollars so that you can have the privilege of paying the government

>> No.55104912

>>55104862
>He didn't use money given to him by the government at a fixed interest at 2.65% for 30 years to purchase an asset that has increased in value at a rate higher than inflation for the past 50 years.

Are you stupid? Do you hate free money? Everyone with any kind of capital uses leverage and this capital is subsidized by the government below inflation, why would you refuse free money?

>> No.55104926

>>55104893
My parents jobs in 1984 were HVAC (dad) and legal secretary (mom)

And they had 3 kids, to which my mom was stay at home mother for about 5 of the 11 years before the mortgage was paid off, so it was basically my dad who was paying the mortgage for the first 5 years.

>> No.55104938
File: 122 KB, 900x540, deano.jpg [View same] [iqdb] [saucenao] [google]
55104938

>40 year mortgage

>> No.55104944

>>55104909
Better than renting kek

>> No.55104952

>>55104938
holy shit I never realized even deano isn't dumb enough to get a 30 year mortgage

>> No.55104999

>>55104944
>paying 1/300th of the purchase price of a house monthly without requiring to repair or manage the property
>can just stop paying whenever and most major cities give you the right to stay without paying until an expensive legal process is conducted
>ability to use the other 299/300th of the cost of the house to buy things that have more long term value, with or without leverage
>not tied to a city in case it gets niggerized like SF and lose 20% yoy of my levered value I already pay a 2x premium on after interest in fees in 30 years
Oh man you got me good anon!

>> No.55105004

>>55104938
what's funny is that the monthly payment savings on 40 vs 30 year is minimal, while the interest paid goes up considerably.

>$300k @ 7% for 30 years = $718k total repayments @ $1995/mo
>$300k @ 7% for 40 years = $895k total repayments @ $1865/mo
>7% reduction in monthly payment, 25% increase in total repayments

>> No.55105027

>>55105004
so whats the sweet spot brainiac?

>> No.55105046

>>55104999
$7k annual property taxes
$2k annual maintenance
that’s vs. $2700/monthlyfor rent in my area. I’d rather pay $9k a year for privacy and seclusion, away from niggers, instead of paying $32k a year to live next to them. The initial purchase of the home is worth it, especially with the intentions I have on making it last for generations.

You’re sitting here defending squatters rights while I’m sitting on 6 acres innawoods with a 6 figure income. 2400 sq ft, 98% white town. You’re poor and you will always be poor. And you will continue to seethe lol

>> No.55105053

>>55105004
After inflation 40 year mortgage wins

>> No.55105058

>>55105046
You don't get out of poverty by living 100 miles from civilization.

>> No.55105066

>>55105027
>so whats the sweet spot brainiac?
at these prices and rates the lesser timeframe the better
300k is a conservatively lower end mortgage

>> No.55105099

>>55104862
>renting for your entire life

enjoy being a literal cattle slave class tier human that exists to serve owners. You not buying a home is one of the most glaringly obvious and stupid things any single person on this planet could do. YES DADDY LANDLORD I WORKED EXTRA HARD FOR YOU THIS MONTH UWU

>> No.55105138

>>55105099
get a load of this mad faggot
hahahahahahahahaha

>> No.55105155

>>55105138
>renting
>calls other people mad

>> No.55105164

>>55105053
i doubt it. in practice the 40 year mortgage comes with a higher rate and likely other costs associated with a longer term. not to mention that the financial profile of a 40 year mortgage holder is that of a poorfag nigger cattle retard.

>> No.55105168

>>55105099
my rent is only $900 and i dont have to worry about niggers ruining my property because it isn't mine. I get to pocket 3/4 of my paychecks and invest stress free

>> No.55105183

>>55105168
Rentoid (i.e. you) exist in society as just basic npcs at the behest of your betters. Unbelievable.

>> No.55105186

>>55105138
>>55105168
I own an apartment complex and live off the rental income from people like you, I have it now setup where I don't lift a finger to do anything, just collect the sweet paychecks from losers like you while I sit around doing nothing, I just got back from a trip to Jakarta. You know what I call my renters? Paypigs haha, it's amazing how much money I am making after I was able to increase rents by 50% over the past 3 years while my overall expenses have only increased by roughly 20%.

>> No.55105188

>>55104862
>60 year Russian mortgage

>> No.55105194
File: 33 KB, 1583x271, cope.png [View same] [iqdb] [saucenao] [google]
55105194

>>55105183
cope and stay poor

>> No.55105199
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55105199

>>55105099
>paying hundreds of thousands to be literally penned up in a literal tax cage with other npcs in a suburban farm complex for the privilege of forever paying the farmer to milk you with taxes to fund niggers snd your enslavement
>the cattle doth think too highly of itself
Aww shucks! So I’M the slave by paying $500/month to live in a brand new beach villa in Bali using 1/10 my monthly interest gained from my portfolio and passive side businesses using less than $200k to start?
>guess i better fly back to america immediately and get into contract on a $400k fixer upper owned by a guy with a metal last name, sold to me by his JAP cousin and financed by his metal-named brother in law at the bank… these people are surely selling me a good investment since they wanted it do badly they sold it to me with a smile!
What’s it like being a literal retard btw?

>> No.55105214

>>55104874
But you can claim the tax back on the mortgage interest, while investing instead

>> No.55105242

>>55105046
never understood why people want such big houses. the larger the house the more maintenance and cleaning.

also serious repairs cost in the 10s of thousands of dollars like HVAC or roofing which will eventually happen so fuck your 2k

t. owns several homes

>> No.55105249

>>55105183
Home “owners” are still rentoids in the grand scheme of things. You’re still paying your monthly tribute for the majority of your adult life, and taking on ALL of the risk. Mortgage cucks are just as bad if not worse than rentoids. If you’re not buying your house in cash, you’re still (((somebody’s))) bitch, and you’re playing into the system like a goodgoy.

>> No.55105250

>>55105214
>Not even using a trust
Why do retards think home ownership is a good idea if they don’t even design the ownership properly?

>> No.55105263

>>55105214
You realize you're still paying the interest? The write off just reduces it.

>> No.55105265

>>55105249
>not taking advantage of free govenment leverage
cope more retard

>> No.55105283

>>55105186
>that poorfag 43% DTI """homeowner""" who LARPs as a landlord without realizing that market rents barely enable a $200-300/month long run average cash flow on a financed mfh property
good morning retard.

>> No.55105294

>>55105214
i wish brainlets would stop blindly saying this without understanding what it actually means. mortgage interest deduction is only an option if you itemize. the standard deduction for single filers is $13,850. furthermore, it's a tax DEDUCTION (reduces your taxable income) not a tax CREDIT (reduces your tax due.)

>> No.55105308

>>55105265
>(((free)))
Goodgoy.

>> No.55105554

>>55105308
>no argument
cope harder

>> No.55105580

>>55104893
Honestly this desu. If rates and prices both stay high then I might just keep saving/investing for the next ten years and then buy something in cash. The first 5-10 years of paying a (((mortgage))) majority goes to (((interest))) anyway so why bother when I can pay substantially less on rent where I live

>> No.55105616

>>55104938
the more time that passes the more the deano meme becomes a cozy bedtime story

>> No.55105636

>>55105242
>owns multiple properties
>drops five figures on hvac repairs

>> No.55105644

>>55105554
>c-c-cope!!
KEK. Don’t miss that mortgage payment! You know how Mr. Goldberg gets when you’re late.

>> No.55105761

>>55105099
>Thinks single men should own a home
Rent is absurdly cheap in my city. I pay $7200 a year for a two bedroom and live a couple blocks from my office; less than a mile from downtown. Enjoy paying through the nose on ticky tacky and having zero expenses covered by the homeowner. Taxes are ritual blood sacrifice and you will probably go to hell for that since it's not a normal sin that God forgives. Keep worshipping the satanic state tho.

>> No.55106153

>>55105644
I rent doe

>> No.55106269

>>55105099
There's no reason to settle down for a 30 year mortgage unless you have a family

>> No.55106304

>>55104893
people have to keep up appearences and buy a house that will take them 30 years to pay off, and then complain how overpriced housing it, retard cattle

>> No.55106311

>>55105194
>rentcucks think this is a lot of money
lol

>> No.55106325

>>55105761
>I pay $7200 a year for a two bedroom
do you live in rural mississippi?

>> No.55106337

>>55106311
>t. low six figure net worth with considerably all of it tied up in a home purchased <36 months ago on a >95% LTV welfare 30 year layaway plan loan

>> No.55106726

>>55105164
No the 40 year mortgage wins because sometimes they print 30% of the money supply

>> No.55106890

>pays 500-700€ in monthly rent in germany
>900-1200€ in in monthly mortage payments
hmmm

>> No.55108855
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55108855

>>55104862
>30 years of debt slavery
>literally translates to "death pledge"
>he still signed up for it

>> No.55108932

>>55104862
I heard some parents put mortage on their kids.

>> No.55108953

>>55105164
I literally have a 30 year that's 1 tenth a point off the lowest rate ever recorded. 2.63 was the lowest it went. I'm 2.75.

>> No.55109030
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55109030

>>55106311
I'm 23 anon, if I used that to put a downpayment on a home i'd be waiting at least a decade to see a roi

>> No.55109222

>>55104909
nigga you're still paying the government either way