Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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Are you sure you'll even qualify for the mortgage? It doesn't sound like you will
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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13 Replies
2,002 Views
Your premise assumes that you are guaranteed to make money with the purchase of a home. This is a horribly false premise and many foolish Americans who bought homes the last 5-10 years are finally...
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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13 Replies
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In my opinion, 50% is WAY too high. There are many things a house needs that you have no idea about until you move in.
That doesn't sound like "not doing his research", that sounds like the...
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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Don't forget to figure in the cost of upkeep/maintenance of owning a house.
You may find a deal on the following sites, you just don't want your home ending up listed on those sites.
...
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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13 Replies
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Your setting yourself up to be screwed in the future. Get a cheaper house.
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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13 Replies
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I am planning to send an offer for the home I decided, I calculated the income vs expenditure for myself and it looks like I will be in the borderline or in otherwords all my income will go towards...
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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sounds like you can't afford it
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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13 Replies
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My debt to income ratio after mortgage and my car loan payment is ending up in 52%. The bank sent my loan application for special approval since my credit score is in excellent condition.
My...
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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@sdslick:where'd you get 90+% from? he's simply talking about his mortgage payment to income ratio. usually should be around 30%.
@OP:
Honestly, if you're afraid to do it, don't do it. you may...
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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13 Replies
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there is no way a bank would lend you money with a 90%+ ratio. Either you are not telling us something or you are trying to fool people.
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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Are you counting in property taxes, insurance, HOA fees (if any), as well as setting aside some money for the maintenance, upgrades, repairs and the extra utilities a bigger house needs? The...
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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Some would KILL to rent right now.
Wait. Being house poor sucks.
No way this is the "bottom." We're lucky if we come out ahead of the slide Japan has went through. People need to understand...
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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You're trying to buy too much house. I'd back down on the purchase price so you have much more breathing room in your budget.
Preparing for the home buying dip
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Thread created 10-05-2011 by steal
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13 Replies
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Most lenders recommend that your debt-to-income ratio does not exceed 36% of your gross income. That would be your "back-end ratio". Without giving us actual numbers, its hard to give more precise...
