Federal Housing Administration greenlights 40-year mortgages

[D̷e̷v̷i̷l̷D̷o̷c̷A̷Z̷]

let’s see how this plays out.

Federal Housing Administration greenlights 40-year mortgages

This week the Federal Housing Administration gave the OK to 40-year mortgages. It's a move designed to try and make it easier for first-time home buyers.

www.wptv.com

 

[Rthur]

let’s see how this plays out.

Federal Housing Administration greenlights 40-year mortgages

This week the Federal Housing Administration gave the OK to 40-year mortgages. It's a move designed to try and make it easier for first-time home buyers.

www.wptv.com

Wonder if they'll provide mortgages for shoreline mansions?...
This ^^^ is a hint.

R

 

[D̷e̷v̷i̷l̷D̷o̷c̷A̷Z̷]

my prediction:

Houses get more expensive.

How much “monthly payment” can you afford

 

[vh20]

Let’s see, what happened the last time they tried “to make it easier for first-time home buyers to afford a house”?

 

[PostOak]

Makes sense, signup a bunch of idiots for loans they'll never pay off and make the banks more money

 

[kenny1773]

Doesn't hit as hard until you see the loan as a 30 and a 40 side by side


40 year, $400,000 loan amount (no taxes no insurance, no nothing else)

Same everything, but 30 year, $400,000 loan amount (no taxes no insurance, no nothing else)

Looking at the $198 per month difference in payment per month. I guess that might qualify more people for more expensive housing, but doesn't seem like a significant difference to me. Buy a beater car, learn to fix it yourself, no car payments, then buy the house with a more traditional 30 year. Fuck people are stupid.

 

[nso123]

They will be 20 years in before they touch the principal. Saddle the government with some kind of guaranteed loans that will never be paid and this will help finish things off.

 

[Lightning8]

Way inflation is going you will come out ahead on a 40 year note. I am 63 and I definitely will get a 40 year note next house.

 

[Cowpokey]

Makes sense, signup a bunch of idiots for loans they'll never pay off and make the banks more money View attachment 8116024

We bought our house for $435k, no money down (VA loan) and pay less than that for a 30 year mortgage...of course our interest rate is a bit lower...3.45% IIRC. Supposedly the house is now worth $575K...they'll keep pumping that figure up so we drown in taxes.

 

[M4orturnate]

You will own nothing and like it

 

[Cowpokey]

You will own nothing and like it

Yep, they want everyone living in the cities in gov housing...those of us that refuse, they'll fix us by building low rent gov housing (apartments) in all the red counties to swing them blue...fucking cock gobblers.

 

[sirhrmechanic]

But by 2030 we will Own nothing and be happy… and we’ll Eat zee bugs.

That means that you will be throwing your money away for 7 years on something Klaus Schwab plans to take from you.

Meh, seems like a bad deal to me!

Sirhr

 

[mosin46]

all part of the gov generated problems. have a very nice trailer next door. it is nice but still a trailer. owner gets $1600/mo rent. my grands and youngest daughter have rents from $1400-1800 for nothing very spiffy. how can any young person or couple get able to buy a home when saving is impossible on young person's starting out wages? not happening if things stay the same. yes, the gov and elite goals are to have everyone in "high density" housing that they control. i.e. except for the gov rulers and the elite's 50 acre spreads and 3000 sq ft houses.

 

[DarnYankeeUSMC]

20 year boat payment and a 40 year house payment.

You lose a great deal of your equity between years 15 and 20. Replacing appliances, HVAC, roofing and a multitude of other things.

 

[Cowpokey]

except for the gov rulers and the elite's 50 acre spreads and 3000 sq ft houses.

3,000 sq ft would be small for guest cottages of those fucks.

 

[Romeo458]

Dead pledge indeed.

 

[BLEE]

This eliminates the home as an investment vehicle and simply transfers more wealth to the banks. The middle class doesn't have huge liquidity. The home and property are the main investment that is left to heirs. The more 40 year mortgages, the less inherited wealth in the middle class.

 

[Maggot]

This eliminates the home as an investment vehicle and simply transfers more wealth to the banks. The middle class doesn't have huge liquidity. The home and property are the main investment that is left to heirs. The more 40 year mortgages, the less inherited wealth in the middle class.

At that sort of deal youre better off renting, then at least your insurance is minimal, no property tax, no upkeep, and if you want to go your not saddled to it.

 

[D̷e̷v̷i̷l̷D̷o̷c̷A̷Z̷]

At that sort of deal youre better off renting, then at least your insurance is minimal, no property tax, no upkeep, and if you want to go your not saddled to it.

lol

Yeah. Cause landlords just eat that property tax and upkeep.

 

[M4orturnate]

At that sort of deal youre better off renting, then at least your insurance is minimal, no property tax, no upkeep, and if you want to go your not saddled to it.

Thats the point