UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: b3sholar Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127583  
Subject: How to finance the house I hope to have forever? Date: 11/4/2003 4:54 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hello all,

I'm two to three months away from closing on the house my wife and I are building. We're just into our 30's and we hope to live in this house until we die (and we hope that will be a long way away).

It has been my intention to go with two loan, low down payment arrangement to avoid PMI and I've been planning on conventional fixed loans, since rates are low and we're in it for the long haul.

But a few folks have been suggesting ARMs and even an interest-only plan for the second loan. I'd like to hear advice from the community. Should I reconsider my plans? Are there advantages to these other types of loans for my situation? Or even other arrangements that I haven't considered?

Thanks,

--Bill
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

Back to the Future Buffalo Wild Wings
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement