Is this a good mortgage? How do you tell if you're getting screwed. Need some fatherly advice here

except your house value will drop in half within the next few years.

You’re obviously a retard as well thinking he’s paying $168k in interest on top of the house price. His loan and interest only add up to like $188k by the end of it. The rest is property tax and insurance.

>commenting about something you don’t know shit about

that's crazy
in Belgium they're like 1.2% or so

Not bad for 0 down. I had to hit 20% to avoid mortgage tax.

You’re getting fucked if you didn’t ask for no prepayment penalty, but otherwise you did great. Sub 3% is considered god tier and you can always refinance after you build some equity. People bitch about PMI, but if you don’t have prepayment penalty you can just double up on monthly payments and have them eliminated pretty quickly. Adjustable rates are not good right now since it is unlikely that rates will go any lower meaning if you don’t get fixed then it will likely go up after a while. Idk how much your take home is monthly after deductions/taxes, but $800 a month is pretty good considering a nice neighborhood rent around me is $950

Total interest over the lifetime of the loan is $62,195.23, dumbass.

Where is the agents commission?

Population is increasing, land isn't. No matter how destabilized things become, they'll always enforce property lines. Land in the US might be the only long term traditional investment vehicle left

what can you even buy for 150k? a shed?
you'd actually be paying 300k, 10k per year, for a shed
good job my goy

No that is ABSOLUTELY fucking robbery. Look at the closing costs. The fees are absolutely insane. Recording fees, admin fees, why an inspect fee plus a re inspect? This bank is floating a good interest rate and bending you over with padded closing costs full of horse shit fees. Tell them you wont be closing with them. Go find a credit union near you and work with them. Tell them you want to pay as little fees as possible.

You can fit the entire world population into their own 100sqft room in a landmass the size of texas. There is so much fucking land.

2.875% loan is below inflation, but that just means the economy is doing so shit that rates are practically zero to try and prevent deflation.

I dont think house prices are going to increase any time soon given all the shit happening, but it's your life, make your own choices and mistakes.

Get out of the meme states and hellscape cities, you'll see how much further the dollar goes.

post pics of the house op, & where is it

Also wtf 4+% closing costs? (((They))) are making a solid day on you at the expense of american taxpayers...

I locked in at 2.75% a couple weeks ago and didn't have to buy the rate down, actually got a credit of like $1k. Check out United Wholesale Mortgage. Any broker can work with them. I mean everything looks pretty average. Your closing costs are going to be high like that unless you're working with a credit union. However you could get a slightly better rate, but that depends on your credit score. It's a good time to buy

i mean sure lower fees are not wrong, but rate makes absolutely the bigger difference, you are trying to save 2-3k on a 120k loan

Hes right about credit unions. But my local credit union couldn't get me as good of a rate as my broker. Honestly so what you are probably over paying 2k in closing costs by not using a credit union. Is it worth the hassle to shop around and start over on your qualification? I didn't bother. My closing was like 6k, I didn't really care as i'm saving a shit ton refinancing down a full 2%

Hey biz. Im about to apply for a mortgage and i Have a bank account that I don't want to show. I use it a lot for moving money in and out of crypto and dont want to raise and concerns with the lender and this one account. I have other bank accounts and monies and can qualify for a loan with that. Is it bad or objectionable to keep this account hidden from the lender in this case?

OP here. I don't know anything about mortgages but the things you guys talked about really helped me out. I asked the lady if the closing costs and taxes were estimated, because it's a pre-qualification. Not really sure how all that works. I just want to raise a comfy family. God bless you all and keep working hard.

>$5800 closing costs
what a scam

I’ve got UWM handling my mortgage as well. Got them through my broker.

they are fucking normies
they basically look at income and current assets and then make sure you arent horribly in debt then pretend its a sophisticated process
that said do hide the bank account because it may trigger some weird red flags that smarter people came up with to detect degenerates like you