online loan company?

[monkeybomb]

This is very arcade related.


I want to test my loan recieveing ability in the hopes of buying a house/bungalo/abode of some sort.  Can anyone recommend an online place where I can put my numbers in a try to recieve offers for real.  Not just a loan calc.  

Thanks

[Floyd10]

I've heard nice things about lending tree... I don't know though, I am not in the market for one.

[Darkstalker]

Just keep in mind that failed home loans damage your credit rating...Your best bet is to pay a little bit of money and get your credit report with ratings...

[monkeybomb]

I went ahead and gave lending treee a shot.  I got approved so no worries there.  The problem is the LA housing market.  I went out all day and looked at true junk homes for CRAZY prices.  I'm talking 400,000 for 2 bed one bath rooms where my wife doesn't feel safe to walk the dog.  How bad is it in the rest of the country?

[DrewKaree]

I'm talking 400,000 for 2 bed one bath rooms where my wife doesn't feel safe to walk the dog.  How bad is it in the rest of the country?

that'd buy a friggen mansion around me, prolly 4-5 bedrooms, 2-3 bathrooms, full basement, attached 3 car garage....you'd just be taxed through the nose for it, and your earning potential wouldn't allow you to buy such an extravagant home.  

It'll all be relative...same house in NC wouldn't have had a basement, definitely only 4 bedrooms at most, 2 baths mebbe a half, smaller garage, less taxes, but it would have cost 100,000 more.

[solfood]

i just bought my first home in the Charlottesville, VA area for $189,000 and that got me a brand new house on and acre lot, 2000 square feet in a gated community on the water....$400,000 would buy my dream home....

[monkeybomb]

your earning potential wouldn't allow you to buy such an extravagant home.  

That's just it.  I am a teacher and my wife is a fashion designer.  By no means are we loaded but we're both educated and make plenty.  With all the houses in the poster city for urban sprawl, shouldn't we be able to afford something?  My brother is a well paid corporate lawyer and he can't buy a "nice" house.  

it just seems like there would be a correlation between what people can make and what the houses cost.   We may be able to afford a one bedroom condo at 290,000.  Guess I just need a tougher dog.

[rchadd]

not much better here in the UK  

prices seem to keep going up every month - despite interest rate rises and the continual talk of the housing bubble bursting anytime soon.

something arcade related:

you guys are lucky in the US - most houses in UK don't have basements that can be converted to home arcades  

[GGKoul]

In the area that I live in Canada.  $400,000 US = $550,000 CDN, that would get you a 4000sq/ft home with everything.

But the prices in my area just keep going up.  My wife and I bought our 1st home last year.  It's a 1500 sq/ft Townhouse for $191,000.  And I can sell it today for $250,000.

[DrewKaree]

your earning potential wouldn't allow you to buy such an extravagant home.  

That's just it.  I am a teacher and my wife is a fashion designer.  By no means are we loaded but we're both educated and make plenty.  With all the houses in the poster city for urban sprawl, shouldn't we be able to afford something?  My brother is a well paid corporate lawyer and he can't buy a "nice" house.  

it just seems like there would be a correlation between what people can make and what the houses cost.   We may be able to afford a one bedroom condo at 290,000.  Guess I just need a tougher dog.

that's just it, if you lived in my state, you've be paid less to do those jobs than where you're at, or if you were paid equally, you'd be taxed to death, thereby lowering your net pay.

I had a friend who got became a teacher and moved to CA to work in Compton, because the jobs that paid what she was looking for were in an area known for higher (by 6%!!!) total tax burden....she wasn't the sharpest knife in the drawer, though....she never investigated the cost of living in CA before accepting a job and moving out there...that move lasted until her lease ran out

Fashion designer in WI?  Can she design a wicked plaid for flannel shirts?  Otherwise, she'll earn more where yer at

[DaveMMR]

I went ahead and gave lending treee a shot.  I got approved so no worries there.  The problem is the LA housing market.  I went out all day and looked at true junk homes for CRAZY prices.  I'm talking 400,000 for 2 bed one bath rooms where my wife doesn't feel safe to walk the dog.  How bad is it in the rest of the country?

That's nothing - try living in the New York City area.  Crappy houses in the less desirable parts still fetch upwards of $500,000.00.  Upstate the houses are still at least $400,000.00.  I'm definately moving to another state when I'm looking to buy a house.

[paigeoliver]

You guys are all being taken for a freaking ride paying those prices.

The fact is that houses dont cost anything near that to build. I live in St. Louis, one of the cheaper urban areas. The cheaper homes around here are $100K right now.

Those 100K homes cost a fraction of that to build, as for the $250K homes, those are the same as the 100K homes, just in better zip codes. I know, I was working construction for a while and saw the exact same houses (new construction) priced between 90K (single street development in semi-rural area), and 350K (single house built in established suburban area).

Housing prices are through the roof for a few reasons.

#1. (The long term 20+ year reason). Higher standard of living, and more divorce means fewer people per house, which means more houses needed. Back in the day people often lived with their parents until marriage, and single people usually had roommates, and young married couples lived in apartments. Today single people move out of their parents house at a younger age, live alone, and don't get married until much later in life, at which point they buy a house, have two children before getting divorced and now said "couple" needs two houses. - This will eventually fix itself once enough housing is built.

#2. Lower interest rates just shot the housing prices way up. People can only afford a mortgage so large, when lower interest rates caused mortgage payments to go down, housing prices shot up. The only people who came out ahead were those who bought when prices were low and then refinanced at those low rates. I cannot stress enough how much the low interest rate shot the prices up. The best thing I can use to compare is the price of new mobile homes, since they are manufactured not built, the prices of them SHOULD stay stable, but they are financed like homes. 5 Years ago the big mobile home dealer in my area had NEW singlewides for $10K, now that same model is $26K.

#3. White flight is also a HUGE factor, that leaves entire neighborhoods half empty and creates a constant demand for new housing further and further away from the city (the St. louis suburbs now extend like 50 or 60 miles outside the city limits).

[HaRuMaN]

Lol...  I paid $50,000 for my house... 2 bed one bath, hardwood floors throughout, fireplace...  The same house in the next town over would probably run $150,000...  its all about location.

[J_K_M_A_N]

We bought our townhome 7 years ago for $80,000. We refinanced and they had to do an inspection and appraisel(sp?) and it is now worth $145,000. HA HA. I don't think it is worth that but they have been selling in our neighborhood for that. I would sell but ALL the equity would have to go to the new house just to get it close to our price range. Maybe someday.....


J_K_M_A_N