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You might not own it, but u are earning appreciation on it if the real estate market continue to be on the rise.
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If that's the case, don't worry about buying for at least another 5 years. You're still young, and most people your age worry about being priced out of any market. A good rule of thumb is to stay away from any product or investment you don't feel like you understand.In my mind if its not paid off i dont truly own it, but I am also only 21 and don't get the whole mortgage thing.why wouldnt it be? its the biggest asset you can acquire
buy a house w equity - take cash out - use cash to pay for mortgage for the next 3-4 years and repeat
= youll never pay it off but youll have quality of life
Thanks that is great advice. I have people in my ear telling me to purchase a home within 2 years after I graduate, and some of my friends want to purchase a home as soon as they graduate. Housing did take a hit out here which is why there have been so many foreclosures. Condo that I used to live in dropped from 250k to 100k in 4 years
If that's the case, don't worry about buying for at least another 5 years. You're still young, and most people your age worry about being priced out of any market. A good rule of thumb is to stay away from any product or investment you don't feel like you understand.
I always advise friends to not buy a house until they have no debt, a sufficient emergency fund (3-6 months because you WILL need it eventually), and a mortgage payment no more than 1/3 of your take home pay. Once you can do that, then it's time to buy. The D.C. market is one of the best in the nation since it's a government town. Even during the recession, housing didn't take much of a hit.
Living in the metro DC area, is buying a home even worth it anymore?
why wouldnt it be? its the biggest asset you can acquire
buy a house w equity - take cash out - use cash to pay for mortgage for the next 3-4 years and repeat
= youll never pay it off but youll have quality of life
Horrible advice.
Don't buy a home if you don't plan on paying it off.
Living in the metro DC area, is buying a home even worth it anymore?
why wouldnt it be? its the biggest asset you can acquire
buy a house w equity - take cash out - use cash to pay for mortgage for the next 3-4 years and repeat
= youll never pay it off but youll have quality of life
Horrible advice.
Don't buy a home if you don't plan on paying it off.
Having the car loan and making all your payments on time will help your credit. If you pay it off early it won't really help or hurt your credit. If you are going for an home it may help by showing you have one less bill to pay. I paid two cars off early and didn't really see any advantage by doing so.
I have never heard of anyone being able to pay off a credit card with a credit card.My boy told me he as 2 CC. He uses one for purchases and the other to pay off the credit purchases. And he just keeps doing that back and forth and swears it helps his credit score.
I was like wut how does that even work
so I have the capital one app on my phone and I now have the ability to see my transunion credit score
so I have the capital one app on my phone and I now have the ability to see my transunion credit score
for all cap one cards? havent seen anything about them showing TU scores.
i know my Fico thanks to discover.
i just dont like having credit card apps on my phone for some reason
so I have the capital one app on my phone and I now have the ability to see my transunion credit score
for all cap one cards? havent seen anything about them showing TU scores.
i know my Fico thanks to discover.
i just dont like having credit card apps on my phone for some reason
If you have the app, on the side menu has something called credit tracker
Yes, any form of debt interaction will help or hurt your credit. As long as they're not reporting a negative on your credit report, it should help your score.I have a question, I currently have a CC through chase and I've been making payments in full since I've got it in December. I know my score is about close to 700. The question is, I currently have student loans that is under the income based repayment plan, which means I can make payments as low as zero dollars. With me paying everything off such as, car and last credit card, will my student loans affect my credit score? That's the only form of debt on my credit. I make payments on my credit card in full every month.
The thing is, they are not reporting anything negative on my credit report, so they still put it in as good standing, so will that help?Yes, any form of debt interaction will help or hurt your credit. As long as they're not reporting a negative on your credit report, it should help your score.
They have to be reporting one way or the other.... It it is not negative then it is good.The thing is, they are not reporting anything negative on my credit report, so they still put it in as good standing, so will that help?
Yes, if an account shows as good standing, that's what you want. I haven't had student loans in several years and still have a pretty high score because of them.The thing is, they are not reporting anything negative on my credit report, so they still put it in as good standing, so will that help?Yes, any form of debt interaction will help or hurt your credit. As long as they're not reporting a negative on your credit report, it should help your score.
Not to knock on anyone but the limits given on credit cards has to do a lot with income.How many credit cards do you all have?
I'm thinking about getting another one for groceries or strictly gas.
How do I get the joint with the $1000 limit?
My credit score is like 702 (if that matters)