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Long Term, Interest Only Mortgages?

Discussion in 'Money & Finance Forum' started by sadic1, Jun 21, 2006.

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  1. Jun 21, 2006 at 1:52 PM #31
    Guest

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    they aren't 4 and 5% fixed anymore....alot of the risky buyers are squeezed out....not as many buyers equals not as many home sales....which equals buyers market....
     
  2. Jun 21, 2006 at 1:52 PM #32
    sadic1

    sadic1 Full Access Member

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    A few years ago, I would have figured that either of them leaving would equate to a death blow for the city. Now, I'm not so sure, though it would definitely extend the timeline for appreciation. I'm thinking we're just about over the hump, from "1 or 2 horse town" to "real city".
     
  3. Jun 21, 2006 at 1:53 PM #33
    HardHarry

    HardHarry Rebel with a 401(k)

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    anything under 8%, based on history, is a low rate environment. 4% & 5% are ridiculously low.
     
  4. Jun 21, 2006 at 1:55 PM #34
    vpkozel

    vpkozel Professional Calvinballer

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    It would be a bloodbath for those 2 areas.
     
  5. Jun 21, 2006 at 1:56 PM #35
    Guest

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    was nice while it lasted...picked up a couple properties at 4-5% fixed....couldn't afford to do that now unless I went interest only....one of the properties I bought sold 5 years later for almost what I paid....interest only would have killed me on that one....
     
  6. Jun 21, 2006 at 1:56 PM #36
    Freakshow

    Freakshow Fuck you guys.

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    30 Year Fixed with no points...mid to high 6's. Depends on the day. 6.625% today...Lot of people got accustomed to the ridiculous rates...these are still low.
     
  7. Jun 21, 2006 at 1:58 PM #37
    meatpile

    meatpile 7-9

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    I paid 8 7/8 in 2000, and the housing market was SCORCHING.
     
  8. Jun 21, 2006 at 1:59 PM #38
    HardHarry

    HardHarry Rebel with a 401(k)

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    Lots of places offering 30 year fixed with no PMI for 80+% loans for about 6.25%. 15 year fixed for 5.75%.
     
  9. Jun 21, 2006 at 2:03 PM #39
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    none of that touches 4-5%

    who wants to take a chance on a 10-15 year refinance only to save a couple hundred a month.....unless you are flipping or selling with in 5 years...you would be a fool not to take a fixed.....

    unless you are like Meat and live on Gold and know how to invest the saved money....

    not many people are going to fair very well with interest only over 5 years....especially with the over building going on in Charlotte.
     
  10. Jun 21, 2006 at 2:14 PM #40
    sadic1

    sadic1 Full Access Member

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    So, what is the closest thing to a "no-lose" real estate investment in the Charlotte area UNDER $400k? I see a lot of little lakefront developments popping up in SC as "country/retirement" places for Charlotteans that seem to be selling well, but I don't trust those at all.
     
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