Swimmod_Luna Posted May 9, 2019 Share Posted May 9, 2019 Our lease is up end of June and we're trying to get a house this time instead of an apartment. Seems like it's a lot harder to find a house than an apartment though. Finding something in our price range that's suitable is tough enough, then you finally find one that looks good and it's a whole thing just trying to schedule a time to see the house. We saw one last night that was pretty much perfect. Told the agent we wanted to put in an application and even came prepped with our paystubs because we knew from seeing it online we were gonna love the house. Gave him the paystubs and our e-mail addresses and he said he'd send us the application. Nothing. Link to comment Share on other sites More sharing options...
fuggstop Posted May 9, 2019 Share Posted May 9, 2019 Two incomes? Just buy a house. Itll be cheaper. Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 6 minutes ago, fuggstop said: Two incomes? Just buy a house. Itll be cheaper. Because I totally have 20k just laying around for a down payment. Link to comment Share on other sites More sharing options...
PhilosipherStoned Posted May 9, 2019 Share Posted May 9, 2019 (edited) It doesn't take 20k for a down payment unless you're trying to buy a 2+ story estate honestly. Buying a house was cheaper than renting for me, but location smocation vocation...or whatever they say. You'll need money for escrow, and at least a few grand put back for a down payment unless you can find a special offer or loan though so I get you. I can agree with Fuggs only enough to say don't rule out the option completely until you've viewed the real estate for sale.. I'm paying a lower amount for my mortgage than I could find any apartment studio or otherwise atm. Edited May 9, 2019 by PhilosipherStoned 1 Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 26 minutes ago, PhilosipherStoned said: It doesn't take 20k for a down payment unless you're trying to buy a 2+ story estate honestly. Buying a house was cheaper than renting for me, but location smocation vocation...or whatever they say. You'll need money for escrow, and at least a few grand put back for a down payment unless you can find a special offer or loan though so I get you. I can agree with Fuggs only enough to say don't rule out the option completely until you've viewed the real estate for sale.. I'm paying a lower amount for my mortgage than I could find any apartment studio or otherwise atm. I have no idea how much dawn payments are <_< But I mean the point still stands I don't exactly have enough for any down payment sitting around, at least not without wiping out 100% of our liquid assets which probably isn't a good idea when you first buy a house. I know a mortgage would be cheaper each month but the down payment is the only thing stopping us now. We're hoping this will be our last rental. Stay here for a few years while saving up for a down payment and then buy a nice lil house. 1 Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 i bought a house three years ago with 5% down. it's a conventional loan and not an FHA. i do pay PMI on it but it's like 80 a month so if you can do it like me you'd pay PMI but not enough for it to really matter 1 Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 Just now, Naraku4656 said: i bought a house three years ago with 5% down. it's a conventional loan and not an FHA. i do pay PMI on it but it's like 80 a month so if you can do it like me you'd pay PMI but not enough for it to really matter We'll probably just save up for a year or two and then look into buying. Housing is pretty cheap here so I'm thinking around 150k would get us pretty much any house we would want since we don't really need anything too big or new/fancy. 5% of that is really doable. Like we could even do it now if we wanted to have absolutely no savings left (which of course we don't thus why we're gonna wait a bit). Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 1 minute ago, Athena 92 said: We'll probably just save up for a year or two and then look into buying. Housing is pretty cheap here so I'm thinking around 150k would get us pretty much any house we would want since we don't really need anything too big or new/fancy. 5% of that is really doable. Like we could even do it now if we wanted to have absolutely no savings left (which of course we don't thus why we're gonna wait a bit). i honestly forget how much cash i put down. i know how much it was all totally with the lender fees and whatnot and it certainly wasn't cheap. housing here is a bit more expensive though. i think you told me once you made around 40k so a house that's 150 is probably fine for debt/asset ratio if you put enough down. Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 1 minute ago, Naraku4656 said: i honestly forget how much cash i put down. i know how much it was all totally with the lender fees and whatnot and it certainly wasn't cheap. housing here is a bit more expensive though. i think you told me once you made around 40k so a house that's 150 is probably fine for debt/asset ratio if you put enough down. Combined we might make about that but I don't remember ever saying I alone make that much because I sure don't <_< By the time we're ready to buy Kidney will probably be working a real job so we should be good. Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 1 minute ago, Athena 92 said: Combined we might make about that but I don't remember ever saying I alone make that much because I sure don't <_< By the time we're ready to buy Kidney will probably be working a real job so we should be good. is the cost of living up there really cheap? Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 Just now, Naraku4656 said: is the cost of living up there really cheap? Absolutely. NE Ohio is super affordable and also a great place to live if you know what areas to avoid. Link to comment Share on other sites More sharing options...
lupin_bebop Posted May 9, 2019 Share Posted May 9, 2019 1 hour ago, fuggstop said: Two incomes? Just buy a house. Itll be cheaper. Don't do this. Worst. Advice. Ever. Link to comment Share on other sites More sharing options...
Gyaos Posted May 9, 2019 Share Posted May 9, 2019 Buying a house sounds like a nightmare. I see myself living in apartments for the rest of my life. I don't like the idea of committing to one location for most of my life. That shit scares me. Link to comment Share on other sites More sharing options...
lupin_bebop Posted May 9, 2019 Share Posted May 9, 2019 2 hours ago, Athena 92 said: Our lease is up end of June and we're trying to get a house this time instead of an apartment. Seems like it's a lot harder to find a house than an apartment though. Finding something in our price range that's suitable is tough enough, then you finally find one that looks good and it's a whole thing just trying to schedule a time to see the house. We saw one last night that was pretty much perfect. Told the agent we wanted to put in an application and even came prepped with our paystubs because we knew from seeing it online we were gonna love the house. Gave him the paystubs and our e-mail addresses and he said he'd send us the application. Nothing. I know that feeling. Real estate for houses is stupid. Houses for rent are hard to come by in this market. Even if you have perfect records and everything. Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 Just now, lupin_bebop said: Don't do this. Worst. Advice. Ever. Hadn't planned on it lol. We're not financially ready to buy and even if we were our lease is up end of June so we'd have to find and close on a house in less than 60 days. Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 4 minutes ago, Athena 92 said: Absolutely. NE Ohio is super affordable and also a great place to live if you know what areas to avoid. ok cus i was going to say a combined of 40k is going to be rough to get approved on but i guess if it's normal for your area you might be ok Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 2 minutes ago, Gyaos said: Buying a house sounds like a nightmare. I see myself living in apartments for the rest of my life. I don't like the idea of committing to one location for most of my life. That shit scares me. I'm tired of apartments so renting a house seemed like a good next step. I'm getting tired of moving every few years though I'm looking forward to buying someday and just staying in one place for awhile. Link to comment Share on other sites More sharing options...
1938 Packard Posted May 9, 2019 Share Posted May 9, 2019 5 minutes ago, Gyaos said: Buying a house sounds like a nightmare. I see myself living in apartments for the rest of my life. I don't like the idea of committing to one location for most of my life. That shit scares me. Packing up and moving every two years lowers your credit score. 1 Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 3 minutes ago, lupin_bebop said: I know that feeling. Real estate for houses is stupid. Houses for rent are hard to come by in this market. Even if you have perfect records and everything. There are plenty available but it's hard to find one in decent shape in our budget. That's why we're really excited about this one we saw yesterday. It's an older house but in decent shape. The agent finally sent us the background check form so fingers crossed. One other couple came to look at it while we were there and then one more as we were leaving. Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 1 minute ago, 1938 Packard said: Packing up and moving every two years lowers your credit score. Not really. Not all places do hard inquires and even if they do that only stays on your record for two years and the impact is so tiny it's barely worth mentioning. 1 Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 7 minutes ago, Naraku4656 said: ok cus i was going to say a combined of 40k is going to be rough to get approved on but i guess if it's normal for your area you might be ok Oh ya dude this area is super cheap. Only downside is u have to live in Cleveland. Link to comment Share on other sites More sharing options...
lupin_bebop Posted May 9, 2019 Share Posted May 9, 2019 4 minutes ago, Athena 92 said: There are plenty available but it's hard to find one in decent shape in our budget. That's why we're really excited about this one we saw yesterday. It's an older house but in decent shape. The agent finally sent us the background check form so fingers crossed. One other couple came to look at it while we were there and then one more as we were leaving. Like I said. It's stupid. Too fucking many hoops. Try buying that house. A LOT fewer hoops. Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 Just now, Quackers said: Just get a roommate Why so I can make more complaint threads about them? Hard pass. 1 1 Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 9 minutes ago, Athena 92 said: Oh ya dude this area is super cheap. Only downside is u have to live in Cleveland. this is all i know about that area https://www.youtube.com/watch?v=oZzgAjjuqZM Link to comment Share on other sites More sharing options...
Poof Posted May 9, 2019 Share Posted May 9, 2019 padmapper Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 (edited) 2 minutes ago, Naraku4656 said: this is all i know about that area https://www.youtube.com/watch?v=oZzgAjjuqZM The Flats is super gentrified now but other than that this video is still very accurate Edited May 9, 2019 by Athena 92 Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 it's a lot more expensive here than when i moved here because everyone like me moved from the north Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 2 minutes ago, Naraku4656 said: it's a lot more expensive here than when i moved here because everyone like me moved from the north The Flats now has apartments that start at like, $2000 a month. For a one bedroom. 10 years ago it was mostly just abandoned buildings. Link to comment Share on other sites More sharing options...
Gyaos Posted May 9, 2019 Share Posted May 9, 2019 20 minutes ago, 1938 Packard said: Packing up and moving every two years lowers your credit score. Depends on the apartment. A lot of landlords I've dealt with certainly gave little thought to checking people's credit scores when I consider the neighbors I've had to deal with over the years. Also, my previous post was a bit of an exaggeration, but I really, REALLY do not want to commit to anything--not even a relationship. A mortgage is a life sentence unless I put the house on the market. In this area, that would never fly, because the population is always declining and never growing. Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 Just now, Athena 92 said: The Flats now has apartments that start at like, $2000 a month. For a one bedroom. 10 years ago it was mostly just abandoned buildings. jeez that's more than my house Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 2 minutes ago, Naraku4656 said: jeez that's more than my house Oh hey I lied looks like they start at $1876....And look how much space you get. Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 32 minutes ago, Athena 92 said: Oh hey I lied looks like they start at $1876....And look how much space you get. funny enough that's the same size as my old apartment, except that was $725 a month when i first got it and they were going to charge me $770 when i left Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 (edited) i googled it out of curiosity and they're trying to charge almost A THOUSAND a month for those same shitty apartments and 1,100 for a renovated one. what the fuck. i didn't feel those were worth 770 which is why i moved out Edited May 9, 2019 by Naraku4656 Link to comment Share on other sites More sharing options...
1938 Packard Posted May 9, 2019 Share Posted May 9, 2019 (edited) 1 hour ago, Gyaos said: Depends on the apartment. A lot of landlords I've dealt with certainly gave little thought to checking people's credit scores when I consider the neighbors I've had to deal with over the years. Also, my previous post was a bit of an exaggeration, but I really, REALLY do not want to commit to anything--not even a relationship. A mortgage is a life sentence unless I put the house on the market. In this area, that would never fly, because the population is always declining and never growing. There's another factor involved that most people don't consider. The people who calculate scores think that when you relocate too often, you're likely to end up moving into place that you really can't afford and start skipping out on any debt payments. They're not just looking at what you are actually doing with your credit, they are also taking guesses at you are likely to do, based on long term observations of people who behave similarly. While handling your credit responsibly can win a high score for you, part of your score is also calculated based on perceived risk factors. Edited May 9, 2019 by 1938 Packard 2 Link to comment Share on other sites More sharing options...
scoobdog Posted May 9, 2019 Share Posted May 9, 2019 15 minutes ago, 1938 Packard said: There's another factor involved that most people don't consider. The people who calculate scores think that when you relocate too often, you're likely to end up moving into place that you really can't afford and start skipping out on any debt payments. They're not just looking at what you are actually doing with your credit, they are also taking guesses at you are likely to do, based on long term observations of people who behave similarly. @Clu Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 8 hours ago, 1938 Packard said: There's another factor involved that most people don't consider. The people who calculate scores think that when you relocate too often, you're likely to end up moving into place that you really can't afford and start skipping out on any debt payments. They're not just looking at what you are actually doing with your credit, they are also taking guesses at you are likely to do, based on long term observations of people who behave similarly. While handling your credit responsibly can win a high score for you, part of your score is also calculated based on perceived risk factors. Link to comment Share on other sites More sharing options...
fuggstop Posted May 9, 2019 Share Posted May 9, 2019 such low energy. i did not say you have to buy the house in the next 60 days. Link to comment Share on other sites More sharing options...
fuggstop Posted May 9, 2019 Share Posted May 9, 2019 5 minutes ago, Quackers said: fuggs it is impossible to buy a house in 30 days wtf never said to low vibes Link to comment Share on other sites More sharing options...
Naraku4656 Posted May 9, 2019 Share Posted May 9, 2019 54 minutes ago, Quackers said: fuggs it is impossible to buy a house in 30 days wtf It's not impossible if you steal the house. Just tell the owner that their house went on PTO Link to comment Share on other sites More sharing options...
Swimmod_Luna Posted May 9, 2019 Author Share Posted May 9, 2019 2 hours ago, fuggstop said: such low energy. i did not say you have to buy the house in the next 60 days. That's when our lease is up. Link to comment Share on other sites More sharing options...
lupin_bebop Posted May 9, 2019 Share Posted May 9, 2019 11 hours ago, 1938 Packard said: There's another factor involved that most people don't consider. The people who calculate scores think that when you relocate too often, you're likely to end up moving into place that you really can't afford and start skipping out on any debt payments. They're not just looking at what you are actually doing with your credit, they are also taking guesses at you are likely to do, based on long term observations of people who behave similarly. While handling your credit responsibly can win a high score for you, part of your score is also calculated based on perceived risk factors. "That's not how ANY of that works. Period." Source: My mom, who has been in real estate and sold houses for over 30 years. Now in corporate real estate. Link to comment Share on other sites More sharing options...
lupin_bebop Posted May 9, 2019 Share Posted May 9, 2019 1 hour ago, Quackers said: fuggs it is impossible to buy a house in 30 days wtf Don't bother. She doesn't understand shit about being an adult. She's used to being a side piece for man-babies and her mom raises her and her child. Just ignore whatever she is about to say to you. No "grain of salt" taking.....just straight ignore it, man. Giving you your fair warning now. Link to comment Share on other sites More sharing options...
1938 Packard Posted May 9, 2019 Share Posted May 9, 2019 19 minutes ago, lupin_bebop said: "That's not how ANY of that works. Period." Source: My mom, who has been in real estate and sold houses for over 30 years. Now in corporate real estate. Knowing real estate does not equal knowing credit. 1 Link to comment Share on other sites More sharing options...
lupin_bebop Posted May 9, 2019 Share Posted May 9, 2019 1 minute ago, 1938 Packard said: Knowing real estate does not equal knowing credit. I should clarify.....she worked with a BANK in real estate. A lender. So yeah......it does. Link to comment Share on other sites More sharing options...
fuggstop Posted May 9, 2019 Share Posted May 9, 2019 45 minutes ago, Athena 92 said: That's when our lease is up. I am so sorry I was unclear. I shall elaborate. Yes, do what you must when your lease is up but I would recommend focusing your energies in the far future into home ownership much much later in order to save money and earn equity and make your money work for you in the long run. I am sorry about my brash words for I do not have time to really go into deep deep detail often much. I only wish the best for your future endeavors. Link to comment Share on other sites More sharing options...
1938 Packard Posted May 9, 2019 Share Posted May 9, 2019 29 minutes ago, lupin_bebop said: I should clarify.....she worked with a BANK in real estate. A lender. So yeah......it does. Was she at all affiliated with Transunion or another credit reporting agency? Or, was she just reading the scores that were presented to her without bothering to check for risk factors? 1 Link to comment Share on other sites More sharing options...
lupin_bebop Posted May 9, 2019 Share Posted May 9, 2019 16 minutes ago, 1938 Packard said: Was she at all affiliated with Transunion or another credit reporting agency? Or, was she just reading the scores that were presented to her without bothering to check for risk factors? The BANK is, jackass. They get the full report. You know what a "lender" is....right? You do know what they look for before they LEND, right? Link to comment Share on other sites More sharing options...
1938 Packard Posted May 9, 2019 Share Posted May 9, 2019 7 minutes ago, lupin_bebop said: The BANK is, jackass. They get the full report. You know what a "lender" is....right? You do know what they look for before they LEND, right? You're making a claim that credit reporting agencies don't calculate risk factors (high risk behavior) into credit scores. The lenders only read the scores, income and debt to asset ratio. They don't have access to risk behavior analysis. Only the reporting agencies do. I have filed for AND RECEIVED three mortgages in my lifetime. In no case did the LENDERS look at more than my score, income and debt to asset ratio. The reporting agencies look deeper and won't share their entire formula with the lenders. This is why two people who have identical patterns of paying bills in full and on schedule could have two radically different scores. 1 Link to comment Share on other sites More sharing options...
lupin_bebop Posted May 9, 2019 Share Posted May 9, 2019 2 minutes ago, 1938 Packard said: You're making a claim that credit reporting agencies don't calculate risk factors (high risk behavior) into credit scores. The lenders only read the scores, income and debt to asset ratio. They don't have access to risk behavior analysis. Only the reporting agencies do. I have filed for AND RECEIVED three mortgages in my lifetime. In no case did the LENDERS look at more than my score, income and debt to asset ratio. The reporting agencies look deeper and won't share their entire formula with the lenders. This is why two people who have identical patterns of paying bills in full and on schedule could have two radically different scores. Lenders have the same view of ris--......you know what.....it's just easier to say "Shut the fuck up, Packard. You're a fucking idiot" and move on. Link to comment Share on other sites More sharing options...
1938 Packard Posted May 9, 2019 Share Posted May 9, 2019 4 minutes ago, lupin_bebop said: Lenders have the same view of ris--......you know what.....it's just easier to say "Shut the fuck up, Packard. You're a fucking idiot" and move on. No, they don't. 1 Link to comment Share on other sites More sharing options...
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