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    #16
    Honestly i wish we had loans like you guys..so hard to buy here..with all the fees that they ask up front...around $20,000 plus...deposit is only around $10,000 for 3% on a $300,000 house..achievable...its the other fees that kill everyone here

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      #17
      Originally posted by mumof2 View Post
      Honestly i wish we had loans like you guys..so hard to buy here..with all the fees that they ask up front...around $20,000 plus...deposit is only around $10,000 for 3% on a $300,000 house..achievable...its the other fees that kill everyone here
      When you buy or sell there are heavy fees. The fees are unfortunately based also on credit and $$$. So it favors those of us with good credit and good jobs and income. Something we don't talk about is the deals often companies have with banks that give them "discounted" fees/rates/or special deals. Also these lower fees are usually based on refinances. Buying a home say as a FHA often times can be very expensive. Since DH and I have always had money, credit we've been very lucky. But I can tell you when my mom and her siblings were starting out it was very difficult. Thankfully they were smart and able to work the system. I mean my uncle opened the first bank account at 14 when he was working and took each younger sibling to open a bank account and start banking and building credit and just becoming responsible. My mom understood the system and helped each sibling buy "low" income entry level track homes for them and how to get into lottery and fill out paperwork. So it's not easy to get out of being poor and on the road to wealth building.

      So this is a form of racism I hate to point out.
      LivingAlmostLarge Blog

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        #18
        Originally posted by LivingAlmostLarge View Post

        When you buy or sell there are heavy fees. The fees are unfortunately based also on credit and $$$. So it favors those of us with good credit and good jobs and income. Something we don't talk about is the deals often companies have with banks that give them "discounted" fees/rates/or special deals. Also these lower fees are usually based on refinances. Buying a home say as a FHA often times can be very expensive. Since DH and I have always had money, credit we've been very lucky. But I can tell you when my mom and her siblings were starting out it was very difficult. Thankfully they were smart and able to work the system. I mean my uncle opened the first bank account at 14 when he was working and took each younger sibling to open a bank account and start banking and building credit and just becoming responsible. My mom understood the system and helped each sibling buy "low" income entry level track homes for them and how to get into lottery and fill out paperwork. So it's not easy to get out of being poor and on the road to wealth building.

        So this is a form of racism I hate to point out.
        We can't get a loan withut good credit here and both mine and my hubby are both at 1000..we have excellent scores..but rents are sky high here so hard to save the deposit & fees...thats the killer...they use to add fees into the loan but not anymore...but we are determined to get there.

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          #19
          Originally posted by mumof2 View Post

          We can't get a loan withut good credit here and both mine and my hubby are both at 1000..we have excellent scores..but rents are sky high here so hard to save the deposit & fees...thats the killer...they use to add fees into the loan but not anymore...but we are determined to get there.
          It's a weird thing in the US. being poor makes it harder to get out of being poor.
          LivingAlmostLarge Blog

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