run, rend pawl, run!

heckler73 said:
Ahhh... it sounds like it is a fixed monthly fee based on principle paid, correct? If so, how much is it? Is it also percentage based or a generic fee (e.g. $19.95)?
I can add that part into my model above and get a more realistic "map" of what it all really costs. I don't know if it's any use to you, but it gives me an opportunity to muck around with empirical data and keep my modelling skills sharpened.
Click to expand...

not sure if it's percentage based or if they just pulled a number based on our qualifications, but it is a shit ton.

about $200 a month.

we might as well be taking $200 out to the backyard and lighting it on fire. we've never missed a rent payment in our ten years together on our own, and if we ever were to be in that position, we have the resources to bail ourselves out.

that's what a middle of the road credit score will get you in a tight lending environment though.
 
still, $200 a month for 4 years is about $10k.

the extra $25k from selling stock to get us to 20% down would cost about $15k in capital gains.

i can pull that $25k in a heated greenhouse in a year if things go well.
 
UncleBuck said:
the mortgage insurance payments are fixed and we can get rid of them once we pay off 20% of principle. if we're lazy on payments and i don't build a greenhouse and stay inside, that'll take 4 years. if the greenhouse is up next spring and we just pay what we're paying now (aside from the GH income), it'll take a year or so.
Click to expand...
How you gonna legitimise your income btw?

Buy a legit grow license or something?
 
Harrekin said:
How you gonna legitimise your income btw?

Buy a legit grow license or something?
Click to expand...

filepicker_7wHX5g4SQn0p4tYi6Fty_saul_goodman-600x300.jpg
 
UncleBuck said:
still, $200 a month for 4 years is about $10k.

the extra $25k from selling stock to get us to 20% down would cost about $15k in capital gains.

i can pull that $25k in a heated greenhouse in a year if things go well.
Click to expand...
That sounds like an intelligent, grey-market approach in this situation.

I'm having a helluva time trying to get Maple to recognize a piecewise function inside a piecewise function which seems to be spitting out a recursive error...ugh...fuckin' stupid Canadian math tools crap... Speaking of which, expansion is the cause of brain wrinkles!

 
UncleBuck said:
i propose an alternate explanation: you are an idiot.
Click to expand...
sorry buck, but once again you demonstrate your incredibly ignorant self.
The amount of taxes you pay when you make capital gains would likely be less than 10% as long as you held that stock for more than a year, but oh well, you just keep thinking you have to pay 40%, be an idiot and pay a couple of hundred grand for your idiotic mistake, no skin off my back, but it is kind of fun watching you throw $200,000 in the toilet.

Or what most likely is the case: Your wife has nothing, you have nothing and you are actually looking to move into a 750 sq foot apt because its all you can afford.
You aren't rich, your wife isn't rich and the in laws are a made up bunch aren't they? Have you ever told the truth in your life or are you so ashamed of how your life works that you just have to lie about everything? I assume the latter.
 
UncleBuck said:
loan is much less and payments are a bit higher. and we are going to make payments greater than required since we can easily afford to.

we pay 1800 in rent now and our mortgage is hundreds less.
Click to expand...

I learned a cool trick with my first home loan. If you print out a 30 year amortization table it will tell you exactly how much of the payment goes to principle. Back then my first month's payment was only like 53 dollars toward principle the second like 53.20 or something. I would pay my payment plus the principle for the next month. My payment was only around 600 (I'm old) but paying 653.20 was two months worth. I payed off a 30 year mortgage in 15 years doing that. The payments go higher naturally, but so should your income.

On a 200K loan at 6.75% for 30 years the payment is around 1300 but only about 170 or so goes to principle in the beginning. If you paid 1475 you knock a month of your term and slowly increase the payment. Hope I'm making sense and you probably already know this trick. I didn't until someone told me though, so just sharing the tidbit.
 
ginwilly said:
I learned a cool trick with my first home loan. If you print out a 30 year amortization table it will tell you exactly how much of the payment goes to principle. Back then my first month's payment was only like 53 dollars toward principle the second like 53.20 or something. I would pay my payment plus the principle for the next month. My payment was only around 600 (I'm old) but paying 653.20 was two months worth. I payed off a 30 year mortgage in 15 years doing that. The payments go higher naturally, but so should your income.

On a 200K loan at 6.75% for 30 years the payment is around 1300 but only about 170 or so goes to principle in the beginning. If you paid 1475 you knock a month of your term and slowly increase the payment. Hope I'm making sense and you probably already know this trick. I didn't until someone told me though, so just sharing the tidbit.
Click to expand...
Jesus, 6.75%?

RAPE!!
 
ginwilly said:
I learned a cool trick with my first home loan. If you print out a 30 year amortization table it will tell you exactly how much of the payment goes to principle.

Hope I'm making sense and you probably already know this trick. I didn't until someone told me though, so just sharing the tidbit.
Click to expand...

Dot matrix printers are compost
LONG LIVE THE 3D PLOT!

200k @ 6.75%, 30 year term.

200k 30yr at 6.75.png
Now isn't that easier to process in the mind relative to a table of payments and balances?
 
NoDrama said:
sorry buck, but once again you demonstrate your incredibly ignorant self.
The amount of taxes you pay when you make capital gains would likely be less than 10% as long as you held that stock for more than a year, but oh well, you just keep thinking you have to pay 40%, be an idiot and pay a couple of hundred grand for your idiotic mistake, no skin off my back, but it is kind of fun watching you throw $200,000 in the toilet.

Or what most likely is the case: Your wife has nothing, you have nothing and you are actually looking to move into a 750 sq foot apt because its all you can afford.
You aren't rich, your wife isn't rich and the in laws are a made up bunch aren't they? Have you ever told the truth in your life or are you so ashamed of how your life works that you just have to lie about everything? I assume the latter.
Click to expand...


I wonder if he’s talking about early withdrawal from a 401K vs conversion of long term capital gain investments. His capital gains certainly could be higher than the standard 15% if he was in the top income bracket.

But this statement, "the extra $25k from selling stock to get us to 20% down would cost about $15k in capital gains", didn't make a lot of sense to me.

Hard to help without all the facts.
 
NoDrama said:
sorry buck, but once again you demonstrate your incredibly ignorant self.
The amount of taxes you pay when you make capital gains would likely be less than 10% as long as you held that stock for more than a year, but oh well, you just keep thinking you have to pay 40%, be an idiot and pay a couple of hundred grand for your idiotic mistake, no skin off my back, but it is kind of fun watching you throw $200,000 in the toilet.

Or what most likely is the case: Your wife has nothing, you have nothing and you are actually looking to move into a 750 sq foot apt because its all you can afford.
You aren't rich, your wife isn't rich and the in laws are a made up bunch aren't they? Have you ever told the truth in your life or are you so ashamed of how your life works that you just have to lie about everything? I assume the latter.
Click to expand...


Did you notice that they are fucking rich but dont want to put 20% down to avoid MIP??

Yeah, UB that cheap fucker who loves swampy coolers is going to spend money that he doesnt have to.... ROFLMAO!!!!

He is the most uninformed or misinformed person I have ever heard talking about wealth.
 
kelly4 said:
Sorry heckler, I can process the table with numbers much easier.
Click to expand...
Really? Would you mind elaborating? What is it about the 3D plot you can't comprehend. If you know P = monthly payment, and t = time (in years), with the remaining axis being the "balance left".
It still makes no sense to you?
I suppose it is possible...For the majority of the 20th century, most mathematical thoughts could only be generally represented through bi-axial graphs. If one wanted to envision multivariate processes, it would involve plotting and mixing multiple representations. This is inefficient, though. Perhaps it would make more sense if it was being explained with some examples showing how one's "path" through the mortgage life (now there is a secret pun) changes?

It may be a developed skill, but the future demands one be able to process information in this manner because the complexity of our understanding will not diminish. As the Universe tends toward entropy, it only makes sense our comprehension of the Universe will likewise lean in that direction, too.
 
heckler73 said:
Really? Would you mind elaborating? What is it about the 3D plot you can't comprehend. If you know P = monthly payment, and t = time (in years), with the remaining axis being the "balance left".
It still makes no sense to you?
I suppose it is possible...For the majority of the 20th century, most mathematical thoughts could only be generally represented through bi-axial graphs. If one wanted to envision multivariate processes, it would involve plotting and mixing multiple representations. This is inefficient, though. Perhaps it would make more sense if it was being explained with some examples showing how one's "path" through the mortgage life (now there is a secret pun) changes?

It may be a developed skill, but the future demands one be able to process information in this manner because the complexity of our understanding will not diminish. As the Universe tends toward entropy, it only makes sense our comprehension of the Universe will likewise lean in that direction, too.
Click to expand...
I can comprehend it just fine. I just like dealing with actual numbers better.
 
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