Comments on: Smart Homeowners Learn Mortgage Basics with David Bach

By: pattiandjon

pattiandjon — Sat, 28 Nov 2009 15:30:23 +0000

Thanks David, this was easy to understand and very helpful

By: NessaPicci

NessaPicci — Sat, 28 Nov 2009 14:54:03 +0000

Great information, David! if only more homeowners had listened to your advice before committing themselves to loans they could not afford…

By: 7plymaple

7plymaple — Sat, 28 Nov 2009 13:58:04 +0000

this is good info , but it will keep you in debt much longer and cost you alot more money in interest unless you are VERY disciplined with extra payments

the best bet is a 15 year , fixed mortgage with 20% down to avoid pmi insurance

20% down sounds like alot to some people , but it simply means you rent a bit longer , which will pay off HUGE when you get the mortgage and see how much you will save unlike people who only put down 5% and buy a few years sooner

By: 7plymaple

7plymaple — Sat, 28 Nov 2009 12:58:26 +0000

you can easily find online mortgage calculators and run the numbers to see what im saying

you also are buying a house that you only owe 80% of market value for the day you sign the loan

if you only owe 80% of the value of the home the day you buy it you can easily sell it and have a nice pile of cash any time you want or need to

and youll never be like many people out there right now who have lost their home because they lost a job and cant sell their home because they have no equity