The Super Official Homeowners Thread

[SlimKlim]

Alright guys. What do I need if I want to buy a house within 2 years. Let's say I find something for $550,000.



Sent from my Pixel 4a using Tapatalk

Start playing around w/mortgage costs calculators to get a feel for how it breaks down, you'd probably do an FHA loan with a 3.5% downpayment which would look like this. Although it doesn't show closing costs (2-3% of home price). 

Any downpayment under 20%(?) requires PMI or... MIPs on FHAs I think, which adds a significant amount to your monthly cost until you've made a certain number of payments.

https://themortgagereports.com/mortgage-calculator