Personal Finance on Yik Yak | Planning on buying a home soon. Anybody on here been through the process and have any good tips? Planning on getting a 97LTV and putting down something like 15% on a 30 year. Not putting gf in as a co-signer because I plan on paying mortgage alone

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Personal Finance 3w

Planning on buying a home soon. Anybody on here been through the process and have any good tips? Planning on getting a 97LTV and putting down something like 15% on a 30 year. Not putting gf in as a co-signer because I plan on paying mortgage alone

Anonymous 3w

You need 20% to avoid PMI keep saving.

Anonymous 2w

If you’re under 30, I’d argue do you really want a house? It’s a lot of work and if you just want a good investment, stocks (safe bets like the s&p500) are less of a hassle and are pretty good too

Anonymous

#1 2w

The difference between 19 and 20% is HUGE, just get the 20.

Anonymous

#2 2w

Yea seems my finance guy fed me bad info. He said a 97LTV conventional wouldn’t require PMI but that’s absolutely false

Anonymous

#3 2w

It’s not as much an investment in my eyes as it is just a store of equity. With a large downpayment and maintenance costs it’ll take a very long time to make it actually save me any money even if my mortgage is several hundred dollars than my current rent (which will increase yearly). I also just hate having shared walls/ceiling. Not fun having loud neighbors

Anonymous

#3 2w

I don’t have any expectation to make more money off a house than I currents do investing. But if the choice is putting 1500 a month to rent vs a property I own, I’ll feel a lot better watching that mortgage go down