Answer my question first please.

You only asked one question and I've already answered it

It tough when you are starting, been there. What I did, 1995, I got 2 different mortgages. 1 for the down payment (really high interest rate), so I could put 20% down on my second mortgage with a much lower interest rate. And I paid that first mortgage off first, probably 8 years. And my second mortgage was only for 15 years, which is normally a much better deal. 2013 paid 2nd mortgage off, then bought a bigger house on another 15 year note, that was right when real estate market took off. So it worked out well.

So your answer is "no" to "Do you not even consider them human?" Wow. I'm against "red flag" laws, but that's a definite red flag right there.

My answer, regarding what's the best of the other world - #1 Church, #2 convenience.

One more question - you didn't purchase your ranch/farm yourself, did you?

Ok just so you know there are church's in rural areas. You guys always have the lamest excuses of why you live in town lol.

Are we going to get our bank statements out too? How about a pecker picture while we're at it. Yes I bought my own place. Hard to believe I know.

Well, I stand corrected. My apologies. You just come off as a guy living on Mummy and Daddy's place.

I sincerely hope you'll find your way into one of those rural churches someday young man.

Few things about 401k loans, not sure if things have changed, but what I know/knew…

* Bad: Max is 5 years, and you cannot borrow the whole thing, and normally when you are young wanting to buy your first house not much money in your 401k.
* Good: Interest you pay is to yourself. So if the interest rate is 10%, you pay principal back plus 10%, but the 10% is to you, so effectively they are saying you can borrow on your 401k, but you got to pay it back plus save 10% more.
* Bad: If you leave your company, you have to pay it off, which could be bad timing if you get fired or laid off.

I've been doing heavy equipment auctions for a long time. I sold over $20 million worth my last year at Ritchie Brothers. I don't need anyone else's money. I would also never ask anyone if they bought their own place or not. Just like how you don't ask a man how many acres he has.

It can certainly get worse and had been much worse. In 1983 I bought my first house for $30k with a 14% VA loan. That was a lot for an E4 back then. Wife bought the last house in 2009 at 5.9%.

You can get FHA or Conventional loans as low as 3.5% down. Yes you’ll have a PMI, but it’s not the end of the world like so many make it out to be.

You have to start somewhere or you’ll always be changing the carrot

Agreed. Buying a house with 3.5% down is better than not buying one at all. And I will say I would recommend shooting for a 15 or 20 year loan if possible. I would try to avoid a 30 year if you can because such a small amount in the first 5-7 years is going to principal. The difference on a $300k loan for 30 years vs. 20 years is only about $320/month.

Good luck!

Well, I am here to break the news

Buy a starter on the outskirts today at $425k for 7.5% or you could wait and buy the same starter in 2026 for $525K at 5.5%

They aint never gonna give em away...

All good advice. You can always get the 30yr and just add extra $ for the principle every month when you have it. Wife did that and paid off the loan in 9-10 years.

Unless there is a huge difference in interest rates, I would get a 30 year and just pay extra principal each month. That way if something goes sideways in your life in the next 30 years, you can lower your monthly payment without penalty.

Regardless, buy now. Pay PMI if you have to. It's still much better than renting.

Yup.

We did a 30 year on the new house.

Once the dust settled, we began making a 2X house payment every month.

Buy it on a FHA note and refi when you have 80% equity to get rid of PMI. I did this and it was the best thing I ever did so just call Wade and get the process started. It is scary but you can't be scared your whole life and it will be worth it.

Look at USDA rural loans. You may be able to get low or no down payment as first time buyer.

That heavy equipment you auction....they ever use any of it to build roads, streets, neighborhoods, commercial buildings, etc?

I do not see many of those. USDA is a bad look to the seller as their timeline is way out compared to FHA. I may have done 1 or 2 this year.

You're a db , that has no real world experience

B Razorback buy what you can afford in the town/city you're looking at..

Buy what you can afford and try very hard to stay away from a 30 year note if you can. Those are evil but you have to start somewhere so whatever it takes because you’re leaking money in an apartment as far as I’m concerned.

Take's one to know one grampa. You have absolutely zero idea of what "real world" experience I have. Maybe one day I can get up to your level and the be a moderator on a dying internet forum who is too paranoid to list a location. Maybe one day....

I prefer blondes. It doesn't bother me that others prefer red heads and brunettes. I have my reasons for preferring blondes, but don't belittle others who choose reds and brunettes. I only have one blonde these days, but others can have all the reds and brunettes they desire. I do not make a practice of telling those who prefer reds and brunettes how wrong and misguided they are.

It seems as if somes feel better putting others down. i don't get that. Bad mojo. Stinking thinking is just that, stinking thinking.

Solid advice

100%