How to Explain if you have to ask you can t afford it to a Five-Year-Old
The news that banks are cutting back on their lending hours has me wondering if I can actually afford to buy my dream home. I have a good friend who recently sold her home to a tenant, and I’m now wondering if I am allowed to buy my own home. I have all the money in the world, and I don’t want to see the place I want to live turn into a place I can’t afford to live in.
That’s a great question, indeed. A few years ago I would’ve agreed, but that was before the housing bubble burst, so I didn’t have a good example to point to. Now, if you’re thinking about having a home, there’s a lot that you can do to help yourself get there. You can work part-time on a house. You can search for a mortgage that’s at your current income. You can try to sell your home.
Buying a house is one of the best ways to increase your income. I remember in college I started a business called “Buying Houses”. I would get a few houses a day off of Craigslist, put the listings in my phone, and then let people place bids on the houses to make me an offer. If they bid enough, then I would sell them to my friends who were also getting off of Craigslist.
I don’t know how my friend did it, but she made a lot of money being a real estate agent for four or five years. As a result of that, we both ended up with a huge mortgage. The difference was she paid all the interest, and I paid about 30% of the equity for a house that cost me a lot more than I could afford.
That is a common misconception. Real estate agents get paid in commissions (the percentage they charge for your listing). So if you have to ask, you can afford to get a better deal.
There are a few misconceptions. The first is that real estate agents have to be rich. The second is that a person of modest means who buys a house for $300,000 can’t get a better deal than $300,000. Both of these are false. The only way a person of modest means can get a good deal is to buy a house that is undervalued. As time goes on, your house’s value increases and your mortgage decreases.
If you have to ask, you can afford to get a better deal. If you have a mortgage that is 2 years or more, you can afford to accept a higher interest rate. You can also negotiate an increase in loan terms. However, it’s also possible you can’t afford to move, or need to change your plans. So you need to ask first.
In my opinion, the best way you can have the best deal is to ask first, and then take your chances. Ask the seller, and then ask the bank. Ask for a loan you can afford and then ask them for a loan that you can afford. You will probably find that once you ask, the owner will help you.
Ask your bank to change the terms of your loan. If you ask for a lower interest rate, and the bank agrees to it, you can find your lender again. If you ask for a higher interest rate, the bank will help you out. The point is, if you ask, you can find the right lender for you.
Remember, banks like the ones with the best terms are the ones that take your best interest. If you ask, they will do what their clients want because they have no choice.