Wednesday, December 21, 2011
Home Gaining Equity Question?
I am looking into getting my first home and barely meeting the credit requirements so I am thinking I am going to get a FAIR interest rate with my down payment. I know the market is crap but still not expecting a miracle rate. So my question is this: In regards to auto loans, because the car DEPRECIATES over time, getting a sucky interest rate and planning on getting out of the loan later is not good because the interest is still owed on the high interest rate... but with a home, what should I be considering when getting a FAIR interest rate and will have a better score in the next 1-2 years paying on time? A house APPRECIATES so I won't be rolling that interest from a higher rate on a house over if I get a new house in 3 years, right?
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