# Pros vs. Cons - Buying a house with someone
**URL:** https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678
**Category:** NYSpeed Off Topic
**Created:** [January 21, 2009, 9:55am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678 "2009-01-21T09:55:48Z")
**Posts on this page:** 20
**Page:** 5
### Author:  [@LZ1](https://forums.speedlife.net/u/LZ1)
#### Post date: [January 22, 2009, 10:06am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/81 "2009-01-22T10:06:07Z")
:lol:
This thread went from wow look at me to a brutal bashing
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### Author:  [@Estorvito](https://forums.speedlife.net/u/Estorvito)
#### Post date: [January 22, 2009, 10:26am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/82 "2009-01-22T10:26:49Z")
> [@Pauly](#):
>
> Just tell them you want the- I’m a white hendricks loving east amherst punk, that lives in my parents basement, and want 250k for a house loan.
> They’ll understand
>
> or maybe the look at me look at me loan
lol…PERFECT
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### Author:  [@Pauly](https://forums.speedlife.net/u/Pauly)
#### Post date: [January 22, 2009, 10:29am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/83 "2009-01-22T10:29:01Z")
I forgot the I went to St. Joe’s part
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### Author:  [@Minglor](https://forums.speedlife.net/u/Minglor)
#### Post date: [January 22, 2009, 10:47am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/84 "2009-01-22T10:47:57Z")
> [@90NA300ZX](#):
>
> As of today, prime rate is 3.25. We’re currently offering prime minus .01 on loans over 75k and prime plus .25 for anything 5O to 75k
fuuuug.
I was happy locking in at 5.5% (morgagae/100,000/only me/23 years of age) and this was about a month ago.
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### Author:  [@ShiftDead](https://forums.speedlife.net/u/ShiftDead)
#### Post date: [January 22, 2009, 10:48am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/85 "2009-01-22T10:48:31Z")
Meh. My mom is a hospital administrator, my dad runs a chemical company. Collectively they make a large sum of money per year and they don’t even own a $250,000 house. I just do not see how a 22-23 year old “young adult” could get a loan for that much. But if you can; all the power to ya. Just don’t kill yourself/credit/name in the process.
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### Author:  [@Dr.Stevil](https://forums.speedlife.net/u/Dr.Stevil)
#### Post date: [January 22, 2009, 10:51am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/86 "2009-01-22T10:51:32Z")
> [@ShiftDead](#):
>
> Meh. My mom is a hospital administrator, my dad runs a chemical company. Collectively they make a large sum of money per year and they don’t even own a $250,000 house. I just do not see how a 22-23 year old “young adult” could get a loan for that much. But if you can; all the power to ya. Just don’t kill yourself/credit/name in the process.
yeah, especially now after having so many houses/mortgages defaulted… but who knows
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### Author:  [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)
#### Post date: [January 22, 2009, 11:29am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/87 "2009-01-22T11:29:29Z")
$250K is NOT a lot of money to spend on a house. Still doesn’t mean he should buy one, just sayin.
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### Author:  [@Dr.Stevil](https://forums.speedlife.net/u/Dr.Stevil)
#### Post date: [January 22, 2009, 11:37am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/88 "2009-01-22T11:37:25Z")
> [@boardjnky4](#):
>
> $250K is NOT a lot of money to spend on a house. Still doesn’t mean he should buy one, just sayin.
in blo it is
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### Author:  [@Viper966](https://forums.speedlife.net/u/Viper966)
#### Post date: [January 22, 2009, 11:38am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/89 "2009-01-22T11:38:56Z")
> [@Minglor](#):
>
> fuuuug.
> I was happy locking in at 5.5% (morgagae/100,000/only me/23 years of age) and this was about a month ago.
mortgage rates are still floating around 5.0-5.5 right now
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### Author:  [@fbrendan](https://forums.speedlife.net/u/fbrendan)
#### Post date: [January 22, 2009, 11:42am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/90 "2009-01-22T11:42:33Z")
More info on the Ninja Loans?
Please respond.
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### Author:  [@LZ1](https://forums.speedlife.net/u/LZ1)
#### Post date: [January 22, 2009, 11:44am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/91 "2009-01-22T11:44:23Z")
> **[No income, no asset](https://en.wikipedia.org/wiki/Ninja_loans)**
>
> No income, no asset (NINA) is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage. A loan issued under such circumstances may be referred to as a NINA loan. NINA programs are ostensibly created for those with hard to verify incomes (waiters, etc.) but in actuality have been popularly used in situations where aggressive mortgage lenders and brokers did not want any trouble qualifying otherwise non-quali...
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### Author:  [@Willybeen](https://forums.speedlife.net/u/Willybeen)
#### Post date: [January 22, 2009, 11:45am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/92 "2009-01-22T11:45:30Z")
lol @ fry and others.
this idea, as stated before is retarded. It shows a lack of intelligence from somebody who is supposedly “ALL GROWN UP”
there shouldnt even be a thread about this. why isnt this locked yet.
ugh. :picard:
Look at me look at me. I’m successful!
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### Author:  [@Willybeen](https://forums.speedlife.net/u/Willybeen)
#### Post date: [January 22, 2009, 11:47am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/93 "2009-01-22T11:47:43Z")
In case you weren’t paying attention…
In summation…
.
THERE ARE NO PROS.
THERE ARE A TON OF CONS.
Don’t do it.
/thread.
stick with living with parents, buying is-f’s and z-06’s.
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### Author:  [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)
#### Post date: [January 22, 2009, 11:49am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/94 "2009-01-22T11:49:46Z")
More info on getting in Fbrendan’s pants?
Please respond
Oh wait never mind I found the bottle get me some pills I had laying around.
Also this thread sucks. On top of it being just a garbage idea a bunch of you really need to get your jollies by PWNING him which I find to be the acts of a very, very small person. So to contribute without being a huge dildo about it, beck there are many liabilities and risk reasons that this really just does not seem like a good idea. I know it seems nice to think about getting into a really nice home but your best option would be to either get a starter home maybe even a double you could keep as an investment property when you do get a nicer place. Or wait till you have the money for the down payment alone and rent rooms out. I still don’t like that unless you could afford it on your own just because of the risk involved. Are you aware there are some really good first home club programs that can get you anywhere between 7.5-12.5kish toward your first house? the one I did took 10 months so if you aren’t in a bug hurry that’s a good and easy way to add your nest egg.
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### Author:  [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)
#### Post date: [January 22, 2009, 11:53am UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/95 "2009-01-22T11:53:51Z")
> [@Dr.Stevil](#):
>
> in blo it is
If you make enough money to pay the mortgage, you can spend however much money on a house as you want.
If the dude makes as much money as he leads on(lol), he should do whatever his heart desires.
Everyone who finally gets a real full-time job making decent money to live off of thinks they can afford everything in the world. The reality is that this world is expensive, and many young people will end up living well beyond their means just so that they can buy things that they think will make them happy.
Let him do what he wants, eventually he will realize that the money he makes, and the big promotion he got, really isn’t shit but standard income.
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### Author:  [@9ONA3OOZX](https://forums.speedlife.net/u/9ONA3OOZX)
#### Post date: [January 22, 2009, 12:20pm UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/96 "2009-01-22T12:20:04Z")
> [@Minglor](#):
>
> fuuuug.
> I was happy locking in at 5.5% (morgagae/100,000/only me/23 years of age) and this was about a month ago.
Actually that’s not bad for a locked in rate. We’re doing around 6 percent locked in, and you can only get prime as a variable rate. I’m not sure but i think i heard on the news recently predictions of prime going as low as 1 percent in the coming years. Variable rates are the way to go now imo
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### Author:  [@LZ1](https://forums.speedlife.net/u/LZ1)
#### Post date: [January 22, 2009, 12:21pm UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/97 "2009-01-22T12:21:20Z")
> [@90NA300ZX](#):
>
> Variable rates are the way to go now imo
:meh:
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### Author:  [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)
#### Post date: [January 22, 2009, 12:23pm UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/98 "2009-01-22T12:23:32Z")
Fool me once, shame on you. Fool me twice shame on me.
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### Author:  [@Willybeen](https://forums.speedlife.net/u/Willybeen)
#### Post date: [January 22, 2009, 12:24pm UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/99 "2009-01-22T12:24:41Z")
lol at people doing variable rates on a **30** year mortgage.
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### Author:  [@Jim1234664](https://forums.speedlife.net/u/Jim1234664)
#### Post date: [January 22, 2009, 12:29pm UTC](https://forums.speedlife.net/t/pros-vs-cons-buying-a-house-with-someone/61678/100 "2009-01-22T12:29:41Z")
> [@Willybeen](#):
>
> lol at people doing variable rates on a **30** year mortgage.
yeah the only way that would make sense is if you refinanced before rates went back up, but then there are fees ect…
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