Tagged With "Home"

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Re: First time home buyer

Melissa ·
@FreebiePharm Congratulations on your new home! You bring up some great points. I have no idea the fee would be that high. I'm sending good vibes to you, so everything will be smooth during the process to finalize the documents and get the keys to the house! Do you have any projects you would like to do on the house/ yard once you move in?
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First time home buyer

Melissa ·
I've been thinking about buying a home in the near future. I know there are tons of expenses that tend to appear while you are in the process of buying a home AND once you own it. What are some things I should be aware of?
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Re: Would You Buy a "Tiny Home"?

KellyFromKeene ·
Yes, I would, if it were just me and my (2 teenage) boys. We lived in an apartment smaller than that, but they were smaller then as well. I don't have a lot of 'stuff' but I do like privacy and space to myself. With adding my man to the mix (a 50 man who has never lived with anyone and doesn't have kids), I think the transition will be much easier if we all have some space My parents lived in a small cabin (600 sq ft) for years after my brother and I left home. I had a small house (900 sq...
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Re: First time home buyer

Kirsten Cherry ·
I am closing on a home in Idaho on Tuesday so all of this is fresh in my mind! Some expenses could be: - Home Inspection: This cost us $250 - Closing Costs: We negotiated the sellers to pay this but they usually run 3-5% of the purchase price. If you look at the CD (Closing Discloser) it will break down all of the costs. From making copies of documents to paying title fees, lender fees, and appraisal, everything is charged. With the loan we used (conventional), we were able to have the...
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Re: Down Payment on a House

Kirsten Cherry ·
It depends on the type of loan you will be using. Both FHA and Conventional (on good credit) will loan 97% of purchase price. Sometimes you can get a second loan to pay 2.5% of the purchase price which leaves you with .5% of purchase price to cough up for a down payment. Earnest money can go toward a down payment as well. If you pay anything less than 20% of the purchase price toward a down payment, you will have to pay a monthly mortgage insurance (MI). This can drop once you have 20%...
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Re: Would You Buy a "Tiny Home"?

Olivia ·
One consideration in choosing a tiny home is function. Currently we're renting a smaller three bedroom, because it's in a safe area, good rent, and was recently redone. It allows us to have people over, something we value. If we just needed space for ourselves, a one bedroom, one bath, would work. Another is how attached you are to your stuff. Maybe this will change, but I love my grandparents bedroom set, the big overstuffed antique sofa we salvaged, and our 1930's china hutch. None of...
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Re: Would You Buy a "Tiny Home"?

FreebiePharm ·
I would! We lived in a 3 room tent with 3 kids and a dog for a month when we made the big move from Florida to New Hampshire and couldn't find a place to stay! It was very liberating to not rely on so much material stuff and be resourceful when you didn't have access to the usual daily luxuries of life. I felt more mindful and calm of mind.
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Re: Would You Buy a "Tiny Home"?

Bonnie Squires ·
FREEBIEPHARM this house was built in the 1920 and the 1 closet i thought would be real good to hold our can goods and things is small. To who ever did work on this place changed ever thing around. I seen pictures of the kitchen but they was old and where the stove,refig,counters was in the pictures i really like it but once we moved in it was totally different. No gas stove its electric and the refig not where it was in the pictures and cuber painted blue in the it was like a black color.
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Re: Would You Buy a "Tiny Home"?

Bonnie Squires ·
FREEBIEPHARM you went from a warm place to a cold place. That must have been a big adjustment for all of you. I miss NY but not the cold. I only want snow Christmas eve/day that's it lol Some ways I miss the bigger house and other ways I don't. Like my kitchen i'm like where do i put this same with the bathroom. But the nice thing is not allot to clean here.
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Re: Would You Buy a "Tiny Home"?

FreebiePharm ·
All 5 of us ironically LOVE the cold! We love the 4 seasons, too! I get the whole kitchen thing. We are renting now and there is only one small cabinet that we use as a pantry...so hard! We are looking forward to all the drawers and storage of our new kitchen. Small living... I suppose you must utilize more vertical storage concepts!
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Re: Down Payment on a House

Roy ·
There are always two sides to a coin. FHA loans have served the first time Buyers well for years. these loans offer low down payment as the main lure, however they are not cheap and where they start at 97% loan, once one adds up the total costs of getting one it usually ends up as over 5% of the total price with only 3% going towards the actual equity. A Conventional loan appears at the outset to not be as appealing because it usually requires a minimum of 5% down plus costs. However I...
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Re: Down Payment on a House

Moore Income ·
@Roy thanks for your helpful input! You are right about the downside of FHA, I went through the numbers with a banker and I was surprised by how much I would actually be paying for the home when it was paid off!
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Re: Would You Buy a "Tiny Home"?

Aoife ·
Kirsten, my family of seven (two adults, 5 children under 10) lived in 900sq feet. Two bedrooms, 1 1/2 baths. 5 acres. Detached garage. We moved to 1600 sq ft ranch style house w 17 acres and added a chicken coop and a pole barn, and baby but subtracted an adult within the first year. The bigger space means we have to be more aware of adding clutter. Seven people can have too much, especially since we also homeschool. We clear down to the essentials when we reach an obvious too much stuff...
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Re: Would You Buy a "Tiny Home"?

Moore Income ·
@Aoife coming from a big family myself, I agree that when you have more people, it creates a lot more clutter. Having a smaller space is a great motivator to get rid of excess junk!
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Re: Would You Buy a "Tiny Home"?

Pax ·
I would. Right now I am looking to downsize to a 400 sq foot apartment. (If I thought I could make it work and thought it would cost less in rent, I would go for a smaller space.) Once I get all my debt paid off and save up enough to pay cash for a house, I plan on purchasing one. Depending upon the route I take, I might get a house that is around 960 - 1,000 sq feet and run it as a bed and breakfast OR I might get a small 400 or less sq foot house just for myself. I would have the living...
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Re: Would You Buy a "Tiny Home"?

KellyFromKeene ·
It certainly is! New England is home to old homes with super tiny closets. I make a point to keep all my clothes in the closet- I mean that I don't want to store off season clothes. keeps my clothes down to a reasonable amount. Kudos to the smaller homes with lots of kids. I love the idea of a small home, but want to wait till the kids are gone. I have awhile.
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Re: Would You Buy a "Tiny Home"?

Cindy705 ·
My husband and I have been pondering the idea for the last 2 yes, he's about to retire and I already have. There's always positives and negatives but the one thing that does in courage the idea is to be able to travel anywhere at anytime and still return to be with family.
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Re: Buying your first home? Here's what you should know.

Ana24 ·
Great article. Really helpful. I'll definitely make a note of important things. Thank you for sharing.
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How to pay off your mortgage early

Briana ·
Any homeowners here that are curious about how to pay off your mortgage? What's your favorite tip?
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Re: How to pay off your mortgage early

AnnieB ·
Here's a simple trick I learned in banking: If you make one extra mortgage payment a year, on a 30 year mortgage you'd drop it down to 22-26 years, depending on your loan's rate. On a 15 year note, it drops to 12-13 years. This can be accomplished by making half your payment every 2 weeks.
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Re: How to pay off your mortgage early

Briana ·
WOW - really great tip. Did you do this @AnnieB ?
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Re: How to pay off your mortgage early

AnnieB ·
No, but I know people who did. I've got credit cards to get rid of first.
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Re: How to pay off your mortgage early

Keri Stringer Dunaway ·
I have a coworker that does this. Right now my husband and I are behind a payment on our mortgage. My name is not on the loan so they won’t discuss business with me or I would call them and ask them if they could add a payment on to the end of the loan and begin paying it just as stated above. Or does anyone else have a better solution? My husband will not call them
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Re: How to pay off your mortgage early

KellyFromKeene ·
My fiancee puts any money leftover at the end of the month towards his mortgage, and he also budgets to pay extra on the principal monthly. It has shortened his mortgage from (I think) 20 years to 13.
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Re: How to pay off your mortgage early

Mathmommie ·
Hubby and I bought last summer and signed up for biweekly payments because of the extra payment per year. Some sites I looked at said we’d finish the 30 year mortgage about 7 years early. ...But, after checking the statements the servicer was floating the half payments until it matched with the second payment to apply to the loan. Since we only get paid once a month, not biweekly the payment option was not the most convenient for us, and since the interest is calculated daily having our...
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Re: How to pay off your mortgage early

Mathmommie ·
My husband is like that too. He hates dealing with things over the phone. I call the number, explain who I am hand the phone to him to verify who he is and give permission to talk to me and then take back the phone. He gets annoyed even at this, but he will do it.
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Re: How to pay off your mortgage early

KellyFromKeene ·
I just say that I am Bob, or my partner. If you know all the verifying info, then they will talk with you. Yes, I know I don't sound like a man, but it works.
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Re: How to pay off your mortgage early

friardave ·
Instead of a biweekly payment, why not just add extra principal payments when doing your monthly payment? Put as much as you can every month on principal and you will be amazed.
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