Random Thoughts Thread

[Hollyw00d]

black people please stop naming your kids after car and alcohol brands

[Brandon]

I have heard it both ways too. Financially I am probably losing some money this way but if we do a 15 year term it lines up nicely with my Daughter finishing college. Allows us to have a ton of freedom.

Actually the opposite.

If you look at a note and hud-1 on a 30 year you'd laugh at paying way more interest than the purchase price. 15 year has lower rates and a ton more going to principal. On average I see well over 100k saved over the life of a mortgage saved just on interest.

[Brandon]

black people please stop naming your kids after car and alcohol brands

...and start naming them after 80s wwf wrestlers.

[Adam]

Actually the opposite.

If you look at a note and hud-1 on a 30 year you'd laugh at paying way more interest than the purchase price. 15 year has lower rates and a ton more going to principal. On average I see well over 100k saved over the life of a mortgage saved just on interest.

 

I wish I could afford a 15. Maybe in a few years...

[Blarg]

Nuked a hornets nest 5 feet outside my front door last night.  

 

Used the raid spray can and drenched it. 

 

It was very satisfying seeing all of their corpses this morning, and now the wind is just blowing it all away. 

 

There is a Saddam Hussein reference here but  I just can't drop it like a MIG over Kurdistan.

 

 

 

 

Oh wait, I just did.

[Blarg]

I'm studying for the cpa exam and I'm convinced I'll never become one

 

Don't fret, Starbucks doesn't require it for their cashier jobs.

[Blarg]

What is the best option cable/internet wise? This is absurd. 

 

Stealing it from your neighbor.

[gotbeer]

...and start naming them after 80s wwf wrestlers.

 

Virgil loses out once again.

[nate]

Actually the opposite.

If you look at a note and hud-1 on a 30 year you'd laugh at paying way more interest than the purchase price. 15 year has lower rates and a ton more going to principal. On average I see well over 100k saved over the life of a mortgage saved just on interest.

 

I mostly meant if I decided to invest the down payment and do a FHA type loan instead in theory I could get a better return on the money I invest than the interest.  That is assuming I actually do a good job investing which is never going to happen anyway.

[mrwicked]

Right - it was about buying with cash vs taking out a loan.

Both are valid approaches, especially since money is so cheap right now.

 

nate investing is pretty easy. it's like craps: ignore 85% of the bets on the table, and focus on the smart ones and you'll do fine.

[Brandon]

I mostly meant if I decided to invest the down payment and do a FHA type loan instead in theory I could get a better return on the money I invest than the interest. That is assuming I actually do a good job investing which is never going to happen anyway.

FHA is a good starter plan, you just have to pay mandatory mortgage insurance to the FHA. I think it's still 1.55% but you can always refinance down the road to conventional and drop that if you are under 80% LTV.

[Brandon]

I wish I could afford a 15. Maybe in a few years...

Just throw a couple extra bucks a month at the mortgage and you can essentially have a 15 year.

[Brandon]

Right - it was about buying with cash vs taking out a loan.

Both are valid approaches, especially since money is so cheap right now.

nate investing is pretty easy. it's like craps: ignore 85% of the bets on the table, and focus on the smart ones and you'll do fine.

Speaking of which, it's hilarious how many ballers call me that don't need a mortgage but their CPA makes them have it for the write off.

[nate]

FHA is a good starter plan, you just have to pay mandatory mortgage insurance to the FHA. I think it's still 1.55% but you can always refinance down the road to conventional and drop that if you are under 80% LTV.

 

What is LTV?

 

And yeah the mortgage insurance is the biggest reason I don't want to do the FHA.

[Stradling]

Loan to Value

[Stradling]

I have a 20 year loan, it's a little more affordable than 15 years but still see a ton of principle drop off each month.

[Brandon]

What is LTV?

And yeah the mortgage insurance is the biggest reason I don't want to do the FHA.

I'd avoid it if possible, but 3.5% down can get you in a home. Save up like you are.

[Brandon]

I have a 20 year loan, it's a little more affordable than 15 years but still see a ton of principle drop off each month.

Not really, 20 and 25 year loans are based off 30 year pricing...just with shorter terms. 15 and 10 year have their own pricing and are dramatically different. The margins between the 20 and 15 are so different that if you can pull a 15 it's tremendously better.

[Tank]

...and start naming them after 80s wwf wrestlers.

 

hi, this is my son, iron sheik washington.

[mp170.6]

Why do people complain when it rains because they just washed their car? 

 

Cars look good after a decent downpour. 

[nate]

Except for all the hard water spots left behind from the rain that now need to be cleaned off.

[Brandon]

Why do people complain when it rains because they just washed their car? 

 

Cars look good after a decent downpour. 

 

I'm weird, but I kind of like the look after a wax. The shit just beads off.

[mp170.6]

Except for all the hard water spots left behind from the rain that now need to be cleaned off.

 

I've never seen hard water spots from rain.  Tap water, for sure.  But not rain. 

[Brandon]

Nate lives in a place where his rain has calcium in it.

[deepdrive]

Maybe Nate has black paint. I just picked up a car this week. Black paint. Not looking forward to it.

 

I'm going to try spotless by Carpro. The company has a great rep. I've used some of their other stuff with success. We'll see.

Edited August 7, 2015 by deepdrive