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    #1

    House mortgages

    Anyone see the rates for home mortgages lately?
    Tags: None
    #2
    Disaster waiting to happen....2.07% at BMO.

    And whats land mortgage at FCC?

    Comment

      #3
      Is FCC still doing those interest only loans?

      I seem to remember a program where you never paid back the principle, made interest payments for perpetuity, and at time of future sale were entitled to present value minus original purchase price.

      Comment

        #4
        Originally posted by helmsdale View Post
        Is FCC still doing those interest only loans?

        I seem to remember a program where you never paid back the principle, made interest payments for perpetuity, and at time of future sale were entitled to present value minus original purchase price.
        How else are guys getting to 25000 acres...interesting deal...but to make it work there can't be a downturn and they have to sell...

        What happens if you want to actually own it?

        Or if there are no buyers...if you have a quarter that the principal price is $250000 and market tanks...then what????? Mortgage the depreciating iron????

        Who makes the decision to sell?????? FCC or the peasant farmer?

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          #5
          Five Year Fixed - 1.75% Yahoo!

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            #6
            Watch rates go lower yet. At what point do you just borrow as much as possible when you can lock it in at 1.5% rates?!?!

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              #7
              Originally posted by sumdumguy View Post
              Five Year Fixed - 1.75% Yahoo!
              Farmland, or residential? I get residential rates on bare farmland, I've tried shopping around, and no one else is willing to do so.

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                #8
                Does it matter how low interest rates will be if deflation slashes asset values.

                You will need low rates to pay off assets worth a percentage of former values.

                Bubble pop.

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                  #9
                  What I find crazy is house prices and mortgage rates are dropping but cities/towns and developers still want an arm and a leg for bare or serviced lot to build on. A lot with a condemned house that has to be torn down would cost as much as a livable one. Or $120,000 for a serviced lot and the town dictates what size and kind of house you can build on it.

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                    #10
                    Farma, are you sure about deflation?

                    First is deflation (might be there already ) and next is inflation (USA Fed most recent announcement).

                    Social rights and expectations mixed in with Covid are feeding the black swan who is looking very pregnant

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