# House time... **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [January 24, 2010, 10:38am UTC](https://forums.speedlife.net/t/house-time/78569 "2010-01-24T10:38:14Z")\ **Posts on this page:** 20\ **Page:** 3
**Author:** ![Beck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/beck/32/28683_2.png) [@Beck](https://forums.speedlife.net/u/Beck)\ **Post date:** [January 27, 2010, 2:39pm UTC](https://forums.speedlife.net/t/house-time/78569/41 "2010-01-27T14:39:47Z")
Everything that’s readily available by the time I have to close has income limits of either $30k, or $50k. I do have a bunch of money saved for a DP, I was just curious about how much more I could get. I’ve got about 15% saved up specifically for the house. I’m trying to hold out til I come up with the 20%, but I don’t forsee that happening. (I’m trying to pay my truck off ASAP) ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 27, 2010, 2:54pm UTC](https://forums.speedlife.net/t/house-time/78569/42 "2010-01-27T14:54:26Z")
you might be eligable for sonyma’s normal low interest program, looks like the income limit is $67,9 for buffalo. [http://www.nyhomes.org/index.aspx?page=182](http://www.nyhomes.org/index.aspx?page=182) how they determine your income: [http://www.nyhomes.org/index.aspx?page=147](http://www.nyhomes.org/index.aspx?page=147) their low interest program as of today is 4.625% [http://www.nyhomes.org/index.aspx?page=269](http://www.nyhomes.org/index.aspx?page=269) ---
**Author:** ![walter](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/walter/32/7202_2.png) [@walter](https://forums.speedlife.net/u/walter)\ **Post date:** [January 27, 2010, 6:59pm UTC](https://forums.speedlife.net/t/house-time/78569/43 "2010-01-27T18:59:42Z")
Why would you care about paying your truck off? The money you’d be borrowing for the house would be much cheaper than what you’d pay on the truck. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [January 27, 2010, 7:18pm UTC](https://forums.speedlife.net/t/house-time/78569/44 "2010-01-27T19:18:25Z")
> [@walter](#): > > Why would you care about paying your truck off? The money you’d be borrowing for the house would be much cheaper than what you’d pay on the truck. Yeah he should have gotten a great rate for buying new. Hell I got 4.5% on my M5 and its mad old. But for real Beck should have fat stacks right? Buy all that shit cashhhhhhhhh. ---
**Author:** ![93dx\_hatch](https://avatars.discourse-cdn.com/v4/letter/9/90ced4/32.png) [@93dx\_hatch](https://forums.speedlife.net/u/93dx_hatch)\ **Post date:** [January 28, 2010, 5:54am UTC](https://forums.speedlife.net/t/house-time/78569/45 "2010-01-28T05:54:42Z")
> [@Beck](#): > > Everything that’s readily available by the time I have to close has income limits of either $30k, or $50k. > > I do have a bunch of money saved for a DP, I was just curious about how much more I could get. I’ve got about 15% saved up specifically for the house. I’m trying to hold out til I come up with the 20%, but I don’t forsee that happening. (I’m trying to pay my truck off ASAP) make sure you figure around 8-9k extra for closing, my closing costs were right around there with $5kish taxes ---
**Author:** ![Clean\_Baldy](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/clean_baldy/32/7308_2.png) [@Clean\_Baldy](https://forums.speedlife.net/u/Clean_Baldy)\ **Post date:** [January 28, 2010, 6:03am UTC](https://forums.speedlife.net/t/house-time/78569/46 "2010-01-28T06:03:50Z")
I WAS searching for a house until I realized that the houses on the market are all crap in this area. Not only that, but people have raised the price $15k because they know first time home buyers want the $8k check. I have been looking at houses smaller than my brothers first home that he bought 3 years ago which are smaller, more outdated and cost $25k MORE. How exactly is this a deal? Wow, a whole 3bed/1ba. square box built post WWII or a small cramped cape cod with everything outdated. $100 for that and those are the only two options in Buffalo because that is all they built? Where do I sign up?! Not only that, with the taxes at astronomical levels in NY I can’t afford a house over $110k. The mortgage would be just about $1,000 with taxes included. Going to [Maps.google.com](http://Maps.google.com) and searching for houses in, oh say… Atlanta, GA… I can find a BEAUTIFUL $150k home with 4 bed/2.5 bath with only $750 taxes! The mortgage would be LESS! I think I’ll stick to renting in NY until I move elsewhere. Even if I bought, it would take 20 years to build up little to any equity in a $100k home since the first 10 years are essentially all interest. When people say “Buying a home in NY sucks” they weren’t kidding. Being a first time home buyer, I was fascinated by the fact of just owning my own home. Now, I’m sitting here thinking “What the hell is the big deal? Most of my money isn’t going into my equity…” ---
**Author:** ![chadthestampede](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/chadthestampede/32/5430_2.png) [@chadthestampede](https://forums.speedlife.net/u/chadthestampede)\ **Post date:** [January 28, 2010, 6:19am UTC](https://forums.speedlife.net/t/house-time/78569/47 "2010-01-28T06:19:53Z")
Why would you buy a house in wny anyway? ---
**Author:** ![ultradriver10000](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ultradriver10000/32/7397_2.png) [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)\ **Post date:** [January 28, 2010, 6:37am UTC](https://forums.speedlife.net/t/house-time/78569/48 "2010-01-28T06:37:37Z")
I had the seller pay all my closing costs. I second the question of paying off the truck early. Take that money and use it to reach 20% down. PMI on a 125K house is now about $65 per month now. This usually last a minimum of 5 years, even if you pay off 20% of your homes value. That’s almost $4K. Even if you paid 35K on your truck with an interest rate of 5% (Which is horrible) that is 1750 per year one. You could easily take 2+ years to pay off the truck and it’d still be cheaper over all. ---
**Author:** ![Clean\_Baldy](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/clean_baldy/32/7308_2.png) [@Clean\_Baldy](https://forums.speedlife.net/u/Clean_Baldy)\ **Post date:** [January 28, 2010, 6:38am UTC](https://forums.speedlife.net/t/house-time/78569/49 "2010-01-28T06:38:49Z")
> [@chadthestampede](#): > > Why would you buy a house in wny anyway? Kids, a dog, you hate neighbors all around you, want to have your own space to do with as you please? There’s probably a lot of reasons to own a home. NY just makes it hard to want to say “I’ll take two” ---
**Author:** ![ultradriver10000](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ultradriver10000/32/7397_2.png) [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)\ **Post date:** [January 28, 2010, 6:41am UTC](https://forums.speedlife.net/t/house-time/78569/50 "2010-01-28T06:41:20Z")
> [@chadthestampede](#): > > Why would you buy a house in wny anyway? :lol: YES! ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [January 28, 2010, 6:44am UTC](https://forums.speedlife.net/t/house-time/78569/51 "2010-01-28T06:44:57Z")
I definitely wouldn’t have bought a house if the taxes were that high. F that. Gov’t programs exist to help people who cannot afford houses. Chances are if you make even 50k+ you don’t qualify. ---
**Author:** ![Xander](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/xander/32/7597_2.png) [@Xander](https://forums.speedlife.net/u/Xander)\ **Post date:** [January 28, 2010, 11:12am UTC](https://forums.speedlife.net/t/house-time/78569/52 "2010-01-28T11:12:04Z")
> [@walter](#): > > Why would you care about paying your truck off? The money you’d be borrowing for the house would be much cheaper than what you’d pay on the truck. Probably gets paid on commision and bonus so they only count 80% of your income. With a truck payment it could hurt the I think 39% of income on regular payments standard that you need to get approved for a mortgage. I delt with that BS too. When it’s annual income they say you make 100% of what you do (I was making too much there) and with the monthy the count 80% where I almost made too little. It was total BS. I actualy had my employer not pay me for the last month of the year to cover both basis. x… ---
**Author:** ![Beck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/beck/32/28683_2.png) [@Beck](https://forums.speedlife.net/u/Beck)\ **Post date:** [January 28, 2010, 11:29am UTC](https://forums.speedlife.net/t/house-time/78569/53 "2010-01-28T11:29:17Z")
I’m paying off my truck because it’s $735/month that I don’t need to be spending. ($35K - $13K DP X 36 MONTHS @ 3.5%) $735 in liquidity a month is HUGE, regardless of how much money I’d be saving by putting more money towards principle on a mortgage. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 28, 2010, 11:50am UTC](https://forums.speedlife.net/t/house-time/78569/54 "2010-01-28T11:50:49Z")
if you plan was to buy a house, don’t you think it would have been smarter to go long on the truck (or lease), and save for the down payment? ---
**Author:** ![TradersBASE](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tradersbase/32/5321_2.png) [@TradersBASE](https://forums.speedlife.net/u/TradersBASE)\ **Post date:** [January 28, 2010, 11:57am UTC](https://forums.speedlife.net/t/house-time/78569/55 "2010-01-28T11:57:15Z")
> [@Beck](#): > > I’m paying off my truck because it’s $735/month that I don’t need to be spending. ($35K - $13K DP X 36 MONTHS @ 3.5%) > > $735 in liquidity a month is HUGE, regardless of how much money I’d be saving by putting more money towards principle on a mortgage. Holy snappers. ---
**Author:** ![Beck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/beck/32/28683_2.png) [@Beck](https://forums.speedlife.net/u/Beck)\ **Post date:** [January 28, 2010, 2:02pm UTC](https://forums.speedlife.net/t/house-time/78569/56 "2010-01-28T14:02:05Z")
> [@theblue](#): > > if you plan was to buy a house, don’t you think it would have been smarter to go long on the truck (or lease), and save for the down payment? House fund and car fund were/are two entirely different things. The $735 doesn’t affect anything with the house, just liquidity. Its not like $735 is strapping me while trying to save for a house. If it was, I probably shouldn’t be buying a house. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [January 28, 2010, 2:05pm UTC](https://forums.speedlife.net/t/house-time/78569/57 "2010-01-28T14:05:16Z")
oh come on, that’s a total cop out. ---
**Author:** ![ultradriver10000](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ultradriver10000/32/7397_2.png) [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)\ **Post date:** [January 28, 2010, 2:06pm UTC](https://forums.speedlife.net/t/house-time/78569/58 "2010-01-28T14:06:14Z")
> [@Beck](#): > > House fund and car fund were/are two entirely different things. > > The $735 doesn’t affect anything with the house, just liquidity. Its not like $735 is strapping me while trying to save for a house. If it was, I probably shouldn’t be buying a house. If that is true $735 a month should have no negative effect while you get a mortgage. I pay $550 per month on my wife’s truck and that didn’t effect our mortgage at all. ---
**Author:** ![Beck](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/beck/32/28683_2.png) [@Beck](https://forums.speedlife.net/u/Beck)\ **Post date:** [January 28, 2010, 2:11pm UTC](https://forums.speedlife.net/t/house-time/78569/59 "2010-01-28T14:11:42Z")
> [@ultradriver10000](#): > > If that is true $735 a month should have no negative effect while you get a mortgage. > > I pay $550 per month on my wife’s truck and that didn’t effect our mortgage at all. I know this. Someone made the remark about how I shouldn’t pay off my truck and use it towards the house. ---
**Author:** ![KuntryQuestTSi](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/kuntryquesttsi/32/5010_2.png) [@KuntryQuestTSi](https://forums.speedlife.net/u/KuntryQuestTSi)\ **Post date:** [January 28, 2010, 2:14pm UTC](https://forums.speedlife.net/t/house-time/78569/60 "2010-01-28T14:14:00Z")
My dad is selling a house in brockport, He just wants to get out what he has into it. If your intrested let me know I’ll get all the details [Previous page](https://forums.speedlife.net/t/house-time/78569.md?page=2) [Next page](https://forums.speedlife.net/t/house-time/78569.md?page=4)