Hatt,

Instead of blindly following the pied piper, do the math.

Say you need to borrow $50K. FORGET what it is for.

If you borrow it at 1.99% you are paying $995.00 a year interest to borrow that money. Interest means the money that you have to pay back above and beyond the principal (principal is the money you've borrowed -- you have to pay that back too!) -- I'm sure a smart fella like you knows that.

Now. If you go to your friend "Jeff" -- what's the very best he can give you? MAYBE 5.5%... and that's a super-strong buyer (unless you go for special low-income first time buyer deal (these deals make the people in the mortgage business have a stroke, because the banks are compelled to do them, but there are few hands in the pot) -- I think you've got a couple bucks in your pocket, so I'll assume you're not able to get the low-income deal.

So now you've borrowed $50K from your "friend" "Jeff" @ 5.5%... let's say you're in the what? 15% tax range... maybe? So that 5.5% in essence becomes 4.675% -- Which means now you have to pay the bank $2337.50 a year in interest. See? You want to pay the bank LESS. NOT MORE to borrow the money. The less you give the bank, the broker, and all the others, the more you keep to buy MORE and build more wealth.

So next time a person shows you how to make more with less, don't just follow the piper... think it out. The people that you think are your "friends" are really out to line their pockets with your hard-earned money.

I'm not saying all people have the fiscal responsiblity to borrow money like myself and others are telling you too. For most of the lemmings in this world, it is better to have a hand-holder during the mortgage process -- reading and thinking takes a lot of time for some.

Best Wishes in your new career, etc.

Pete