My current lease at the Village at Vanderbilt takes me through November, 2020. I will sign another one. This is a good location, but the rent has more than doubled since April 1998. Also, there is no equity, which bothers me because I have a son and 2 grandkids. Traffic is bad, and the campus has been overrun by Hispanics, Chinese, Muslims & niggers. I told Michael's friend Dallas I will keep him in mind. He is with Zeitlin.
The right place at the right time for the right reasons. That was my idea from the beginning. I have built up credit.
A mortgage is a home loan. The VA guaranteeing $36,000 means I can borrow up to $417,000. A realtor recommends a mortgage company. Deal with a loan officer. Fite Realty found the Kissell Company for me when I bought the house in Lebanon. I borrowed $29,000 over 30 years at 8.5% interest. There is no down payment with a VA loan. Current interest rate is 3.110% for a 30-year loan.
Submit a loan application. They want to charge for a credit report and a VA appraisal. The Nashville Credit Bureau provides the credit report. Earnest money goes into the deal. There is no funding fee for disabled veterans.
An origination fee to set up the mortgage is not applicable to higher interest. Points are % points on the interest rate.
Always offer $10,000 less than the asking price. Call Property Value Assessment (PVA) to ask what a place is assessed at for property tax.
HOME TECHNOLOGY -
Living room, bedroom, kitchen, dining room, 1 bath, kitchen appliances, washer & dryer.
Closets - garage - public sewers
Electrical system - copper wiring
Central heat and air
Water heater - 50 gallon tank
Average monthly utility bills
Monthly homeowners association fee for condos includes exterior, roof, grounds, pavement & insurance. Closing costs are about $3000. Ask the seller to pay closing costs. Of course, he will not want to. Property tax: $1000
Things have changed since I bought the house in Lebanon in 1977. I do not recall anything about having to pre-qualify. But there were rip-offs like termite inspections. I am thinking if I bought the right place at the right time for the right reasons, I will live there until I die. Equity will be aimed at my son and grandkids.
Call the VA Regional office to find out how the GI Bill works now. It means buying a place with no down payment. Keep monthly payments as low as possible. The system is designed so that the buyer takes a hit.
I get my water free, and that would not be the case if I buy. I am sure electric bills would be higher.
Insurance and property taxes are considerations. I hate to think of supporting the local police. And there is the association fee for condos, now called homeowners fee.
If and when I move, I will have to update my address:
1 Nashville Electric Service NES
2 Water service
3 AAA & Progressive
4 Truck registration - TN Dept. of Safety
6 Pacific Life
7 Website jimcolyer.com. Host Karma
11 Social Security
12 VA Hospital
13 US Post office
16 DAV (Magazine)
17 VA Regional Office
19 Driver's license, TN Dept. of Safety, Tags & stickers
20 Village at Vanderbilt deposit
Moving close to MichaeI would mean I could help with James and Caroline.
To be honest, I may be beyond buying. I will be 75 in December. I am used to where I am and may stay here as long as possible. Food is easy to get, and I can walk to the VA. I have access to the Vanderbilt Libraries and cheap printing. It is a short drive to Walmart, Cracker Barrel & Waffle House. Kay Bob's and Taco Mama are close. Mapco is across the street. 2 Krogers are close. 2 Pinnacles are close. Belcourt Taps is close. The Theater, too. If I leave, I may regret it. Like Estelle said, "I hate this damn place. I guess I'll die here."
I will drive the Frontier as long as it will go. If and when I need another vehicle, It will probably be a car from CarMax.