/biz/ - Business & Finance

I wanted a pre cut home, but sheeeeit these niggas trippin' dawg they want $150K for 1900 sqft nigga.
Like sheeeeit nigga that's a lot of gas money if u know what I mean homie
Sheeeeit I'm smoked out rn homie

>>17303387
lol you live somewhere that is kind of cheap to live

300k for a similar size

>>17303387

u right

>>17303244
why the fuck would you ever pay off 3.625% interest rate debt EARLY. With a fixed rate mortgage this is extra retarded since reducing your principal doesn't even reduce your monthly obligation. Great job you are giving the bank extra money that you can't get back and getting a 0% pre-inflation return on it

Imagine if you would have invested that money instead. Wow

where can I buy this coin?

>>17303464
Imagine being this retarded.

>>17303414
fuuuuuuck dog u mean you niggas pay MORE for the same type of home? God damn nigga this shit gotta change u know? We're fucking Americans. WE FUCKING REPRESENT THE BEST AND BRIGHTEST and we get stuck paying the bill for the illegal, disabled, and unproductive.
Fuck, what will it take to get this shit back on track? We landed on the moong nigga and youse tellin' me we can't balance a budget nigga? Dem niggas at the government be trippin' sheeeit they gettin' kickbacks man.
ODE TO JOY NIGGA

>>17303608
Would you rather:
1) Pay extra money into your mortgage that you can't get out without paying to refinance or selling
2) Keep the extra money you would have put in the mortgage into 2% interest savings account, then use that money to pay off the entire mortgage if you really want to once you have enough

I'm going to give you another chance to think about this. I understand there is a knee jerk reaction programmed into you with Dave Ramsey bullshit, but really think about it.

>>17303736
what do you mean? 3.625% > 2%

I'm confus

>>17303736
Would you rather:
1) Pay 3.625% interest for 30 years
2) Pay 3.625% interest for 10 years
?

>>17303894
You etard I will speak in /biz terms. Your fixed rate mortgage is already priced in! go take your extra fiat and invest in shitcoins no point of paying your mortgage early

>>17303244
If you think you can beat 3.625% through investing, do that instead and don’t pay it off. Even the safest mutual funds are paying pretty close to that right now. You can buy triple B bonds and get 5.2%, or you can invest in the S&P for ~10% or you can invest in Bitcoin and get 50%+. Obviously they have escalating levels of risk. But 3.625% is extremely easy to beat right now, barring a market crash.

>>17303969
what he said, also 2% was just an extreme conservative example you could obviously safely beat the 3.625% quoted interest with the most basic stock/bond portfolio. Or better yet use the extra money for a down payment on another mortgaged rental property. You don't realize a return on extra mortgage payments until you pay off the entire home. If you have some kind of HELOC as your main mortgage (I have heard of these) then maybe there is something to be said for making early payments since that would actually reduce your monthly obligation.

>>17303736
based retard

>>17303244
I am in a similar situation though I only have 100-500 extra a month its been going down on the mortgage. This thread has made me change my mind. Unironically thanks OP

>>17303894
>>17303942
>>17304075
These are the people that make up a business and finance board, fucking yikes

>>17303244
Your mortgage would be paid off right now if you bought link and you would still have a massive stack left for lambos. Not even shilling. These are just actual facts and basic math.

>>17303464
>>17303653
>what is refinancing

Would you retards refinance every year to max your mortgage? What about interest only mortgages? Zero down mortgages? What if you took a loan on your 401k, then invested it back into the stock market? There is a limit to just leveraging the fuck out of everything you can to the max because x % return are greater than Y %. And psychologically it feels great to have zero liabilities once your mortgage is paid off.

>>17304252
I'm not sure what you are advocating here. Are you saying you should pay extra into your mortgage just so you can have to opportunity to pay your lender and title company again for the opportunity of getting your own money back with a refi?

Lol this kind of hyperbolic exaggeration is a telltale sign of an emotional retard. 20% down 30-year fixed mortgages are probably the best form of leverage there is... idk why you would take that and assume I'm advocating 0% down mortgages or interest only mortgages for the average person.

Yes paying a mortgage off completely is good sure. My point is the fastest way to do that is not by giving extra money to your bank every month.

>>17303736
nigga u dumb. and dave ramsey is goat

OP heres what you do. take a mortgage backed loan, use the $150k or so that youve paid off on your house from the loan to go all in on DOGECOIN. fucking watch that shit moon in 2 weeks and buy yourself a beverly hills mansion

>>17304355
Dave Ramsey gives good advice for people with sub 90 IQs so this checks out

>>17303244
You would get more than a 3.625% return holding literally any crypto, how fucking stupid are you?

>>17304537
This. Pay the minimum to not get kicked out and literally put the rest in a blue chip like xmr

>>17304347

So every few years you would advocate to refinance to 5x leverage?

>>17304618
the return on refinancing is dependent on how much money you are pulling out, title + origination fees, and present day interest rates. Every few years no but if you have been paying off your mortgage for say 10+ years, interest rates are near to or lower than your mortgage, and you have an investment opportunity for the cash than yes refinancing would be good in this case.

Paying your mortgage early is one of the most retarded things ever to do.

https://youtu.be/sTrsv0NJn-I?t=942

>>17303387
dammmmnnnnn nigger, that's like a whole $5k interest down if you use your FHA loan n shiiiiiet

>>17304792
yep

>>17303464

This. It's simple math. Put that extra money in the stock market you'll come out way ahead.

Op your smart. Making just 1 extra monthly payment a year drops your mortgage down from 30 years to 23 years . All these faggots on here don’t own homes or understand. This is the most important thing to know
>once you own a paid off house, you are set
You can get a job at target and be good. I try to pay extra on my mortgage but also invest, but don’t stop paying extra on your mortgage. I would pay 50% of your extra income on the mortgage than pay the other 50% on investments

There is nothing better than having a house paid off with tons of equity.

>>17304039
It entirely depends how fast you plan to pay it off. Sure if you take 15+ years to pay your house off its a good deal but if you pay it off in 3-5 this interest difference is pretty mediocre.

>>17304996
sure but if you have the money to pay it off in 3-5 years, I would still just save up the payoff amount outside in a savings account or other investments. The interest you save on tying up the money in the house isn't worth the sacrifice in flexbility. What happens if you've gotten up to 80% equity in 4 years but all of a sudden you hit a huge emergency expense? Now you are struggling to make your minimum mortgage payment (which hasn't changed), and the bank's mouth is watering as they prepare to foreclose on a mortgage that is 80% paid off 25 years ahead of schedule

>>17305113
If you dont have money set aside or invested incase of such an emergency before hand you deserve it? Either way is probably fine but you need to be sure your money is working to lower that interest payment you gotta remember you are making 5-10% on a lot less money that you are getting charged 3.5% on a lot more.

>>17303244
You should be investing that money elsewhere. That's a really low interest rate

>>17303244
I would only pay extra principal if you intend to keep the home for more than 5 years. If you plan on living in that neighborhood in the long run, then paying off your home as fast as possible makes the most sense. As you will no longer have to pay interest payments once you pay off a mortgage, you can invest that money in the stock market and make more gains, risk free. If the markets crash, you keep your house, but you lose that "disposable income".

There are risks however. Your neighborhood can turn into a ghetto in a period of 5-10 years, depending on who's moving in, and who's moving out. Just have a exit plan in this scenario.

>>17304792
if you hae a good mortgage rate yes. if you a broke ass nigga with shit rate like 8 or 12% then no

>>17304792
who is this guy? he seems smart is he a gamer just fucking around in this video or is he an investor or salesman for some shit?

No nigger buy Bitcoin and CRYTPOSOUL (SOUL)

>>17305441
I got recommended this video because I watch a lot of fiance stuff on youtube though I liked it. I only have seen a few of his videos.

If you're a /v/ guy and know DSP. He talks about the financial illiteracy of that dude.
https://www.youtube.com/watch?v=I1DVrjxJ0UE

Prime cost of capital, pay min on loan cuz inflation.
Invest extra