Comments on: How I Bought My House With Very Little Of My Own Money http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/ personal finance that makes cents Sun, 08 Nov 2009 12:46:10 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Charlotte http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-118846 Charlotte Sat, 23 Feb 2008 00:41:50 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-118846 I also heard about http://www.acornhousing.org/index.php It looks like a good place to go but I have not personally used it. If you don't qualify for 75% of median income, this allows for around $80K, at least in Portland. I also heard about http://www.acornhousing.org/index.php
It looks like a good place to go but I have not personally used it. If you don’t qualify for 75% of median income, this allows for around $80K, at least in Portland.

]]> By: SavingDiva http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-85269 SavingDiva Fri, 04 May 2007 18:14:13 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-85269 Great post! Thanks for the link. I might be above the liquid assets levels that Michigan allows, but thanks for the advice. Great post! Thanks for the link. I might be above the liquid assets levels that Michigan allows, but thanks for the advice.

]]> By: Austin Girl http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-40776 Austin Girl Mon, 08 Jan 2007 03:19:22 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-40776 Thanks for the tips, we are learning how to do this <a href="http://austingirl78704.blogspot.com/2007/01/as-you-may-know-from-talking-to-us-or.html" rel="nofollow">along the way.</a> Thanks for the tips, we are learning how to do this along the way.

]]> By: dalas http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-39200 dalas Fri, 05 Jan 2007 02:15:16 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-39200 Just finding a home in Portland for $139k is impressive in iteself. There are a lot of crappy houses for sale around me that cost over $250k. What area did you find your house in? Just finding a home in Portland for $139k is impressive in iteself. There are a lot of crappy houses for sale around me that cost over $250k. What area did you find your house in?

]]> By: slightlyabove http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-39103 slightlyabove Thu, 04 Jan 2007 20:52:55 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-39103 These programs, very similar to federal/local first-time homebuyers assistance programs are great, but highlight a problem of being median or slightly-above-media middle class: higher taxes plus none of the benefits that you would have gotten had you made a couple of thousand less the year before. Just passing that '80% of median' mark means that someone making less money than you will have substantially more effective funds for purchasing a home. These programs, very similar to federal/local first-time homebuyers assistance programs are great, but highlight a problem of being median or slightly-above-media middle class: higher taxes plus none of the benefits that you would have gotten had you made a couple of thousand less the year before. Just passing that ‘80% of median’ mark means that someone making less money than you will have substantially more effective funds for purchasing a home.

]]> By: baker http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-39052 baker Thu, 04 Jan 2007 19:50:16 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-39052 I think it's rather harsh to say you don't think they can contribute to a community because they need assistance with their first house - my wife and I are looking for our first house, and with my student loan payments any assistance is a godsend. I think it’s rather harsh to say you don’t think they can contribute to a community because they need assistance with their first house - my wife and I are looking for our first house, and with my student loan payments any assistance is a godsend.

]]> By: Andy http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-38243 Andy Wed, 03 Jan 2007 06:46:35 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-38243 If somebody is not able to save more than $1666 he/she shouldn't be allowed to buy a house. I wouldn’t bat an eyelash at someone in a low income bracket using “other people’s hard earned money” to buy a home, i.e., to contribute property taxes, improve property values, and stabilize the community). So the person was not able to save more than $1666 but he/she will be responsible with paying taxes, mortgage and etc. And something like improved property values and stabilization of the community - what a joke! The whole US society is based on a fake feeling of the wealth - oh yes, people who don't know how to take care of their very own finances will be stabilizing the community and improve property values. Bwaaahahahaaahahah! If somebody is not able to save more than $1666 he/she shouldn’t be allowed to buy a house.

I wouldn’t bat an eyelash at someone in a low income bracket using “other people’s hard earned money” to buy a home, i.e., to contribute property taxes, improve property values, and stabilize the community).

So the person was not able to save more than $1666 but he/she will be responsible with paying taxes, mortgage and etc. And something like improved property values and stabilization of the community - what a joke! The whole US society is based on a fake feeling of the wealth - oh yes, people who don’t know how to take care of their very own finances will be stabilizing the community and improve property values. Bwaaahahahaaahahah!

]]> By: Meg http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-37968 Meg Tue, 02 Jan 2007 17:24:17 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-37968 Kevin, here's a list of state housing finance agencies, which is where the bond programs are run: http://www.ncsha.org/section.cfm/4/39/187 These are indeed fantastic programs, and I wouldn't bat an eyelash at someone in a low income bracket using "other people's hard earned money" to buy a home, i.e., to contribute property taxes, improve property values, and stabilize the community). Kevin, here’s a list of state housing finance agencies, which is where the bond programs are run: http://www.ncsha.org/section.cfm/4/39/187

These are indeed fantastic programs, and I wouldn’t bat an eyelash at someone in a low income bracket using “other people’s hard earned money” to buy a home, i.e., to contribute property taxes, improve property values, and stabilize the community).

]]> By: Hank Cazorp http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-37481 Hank Cazorp Mon, 01 Jan 2007 22:29:21 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-37481 "All told, I got a lower rate than anybody else could get and $9,073.07 of free money. Woot!" What you really meant to say was "...$9,073.07 of other people's hard-earned money! Woot!" “All told, I got a lower rate than anybody else could get and $9,073.07 of free money. Woot!”

What you really meant to say was

“…$9,073.07 of other people’s hard-earned money! Woot!”

]]> By: Kevin http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-37429 Kevin Mon, 01 Jan 2007 20:35:06 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-37429 Some great info. According to the Atlanta Branch they have upped the amount you can receive to $10,000 (so you put it $3,333.33, get $10k). The only catch is you can't put more than $10,000 cash down on your house. I'm guessing that is in addition to the money they give you? So would you be able to put down $20k ($10k from them, $10k from you) like this: ($3,333.33) + (3,333.33 x 3) + (10,000 - 3,333.33) = $19,999.99... or ($3,333.33) + (3,333.33 x 3) + 10k = $23,333.32? Anyone know if there is a listing of other state bond programs out there? Some great info. According to the Atlanta Branch they have upped the amount you can receive to $10,000 (so you put it $3,333.33, get $10k). The only catch is you can’t put more than $10,000 cash down on your house. I’m guessing that is in addition to the money they give you? So would you be able to put down $20k ($10k from them, $10k from you) like this: ($3,333.33) + (3,333.33 x 3) + (10,000 - 3,333.33) = $19,999.99… or ($3,333.33) + (3,333.33 x 3) + 10k = $23,333.32?

Anyone know if there is a listing of other state bond programs out there?

]]> By: Anita http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-36953 Anita Sun, 31 Dec 2006 22:08:28 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-36953 Wow, kind of wish I knew about these programs before I bought a house! Wow, kind of wish I knew about these programs before I bought a house!

]]> By: nairb http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-36904 nairb Sun, 31 Dec 2006 19:08:38 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-36904 Thanks a lot, just so happens that I live in Portland, so this information really helps out. Thanks! Thanks a lot, just so happens that I live in Portland, so this information really helps out. Thanks!

]]> By: Sue http://www.getrichslowly.org/blog/2006/12/30/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-36509 Sue Sat, 30 Dec 2006 22:37:25 +0000 http://www.getrichslowly.org/blog/2006/12/28/how-i-bought-my-house-with-very-little-of-my-own-money/#comment-36509 Great tips! Thank you so much. That is a very wondeful program. Great tips! Thank you so much. That is a very wondeful program.

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