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I bought my house at 0% down in 2007. No balloon payment thank goodness!! And I didn’t lose my job in 2008/2009. We also bought a house we could pay for - and when I got divorced I could pay for the house by myself. I was under water for years due to the housing market crash. But I would never own a home today if it weren’t for this. I now have several hundred thousand dollars in equity. And I have a great home that I got to raise my kids in. So I am very grateful that I had the opportunity to get a no down payment loan. The catch is that I wasn’t table to sell it to get a home in another neighborhood further down the line - and once I had enough equity, my kids were very settled in our not so highly rated high school and didn’t want to move. But they did very well, my house is beautiful, so it all worked out!

In this one she is being honest….

Unless I missed something, I don’t see the problem. They’re giving you a 3% mortgage and providing you with a down payment. I’d take a 30-year interest-free loan for a $15,000 balloon payment any day.

@arizonagolfandrealestate4508

Ай бұрын

Thinking the same thing. I haven't had a client need this yet.

+30%

+6/%

No one should buy a house without at least 10% down, 20% is much better. If you can't save that much, you can't make the payments and maintain a house.

@mrxiong2567

Ай бұрын

We all want 0% down because we are all broke but want to be homeowner.

@TheLauren1113

Ай бұрын

Our market is so expensive only people with rich parents can come in with hundreds of thousands of dollars in down payments - even if they can afford the normally payments based on income. Rents are high too!

this crash has already happened.

@drivingforcebehindu

Ай бұрын

Not even close. Real crash will happen in a few years according to Tony Seba. This time, we are the horses: the disruption of labor by humanoid robots Tony Seba, Bradd Libby, Adam Dorr From the article published on 9 May 2024: "Humanoid robots will enter the market at a cost-capability of under $10/hour for their labor, on a trajectory to under $1/hour before 2035 and under $0.10/hour before 2045." You can count how many hours one will need to work making a buck an hour to afford a mortgage . I think cars will be 5-10 grand and houses 50-100k in 5 years from now. Just like I picked up a blutooth from Ebay for 10 dollars what used to be over 100 a few years ago. It will be a huge deflationary spiral. The same fate awaits blue collar workers, lawyers and finally doctors. Labor will be to cheap to go out of the house.

@xavierrodriguez1455

Ай бұрын

the housing market is going to crash, and people can not afford to eat, and live, and the prices of goods cannot continue to go up so much anymore.