Re: ZOMG I JUST BOUGHT A HOUSE
sighing,
not having the 40k available now to put 20% down on a 200k house doesn't mean someone shouldn't get into the house
if someone has steady income (not poker) that allows them to pay the 200k note + 2 extra payments each year, then why should they continue to pay rent and not build equity?
as long as you get a fixed rate and can afford that rate, u are fine...obviously if u stretch urself to get into a house, then u are in trouble going 100% because if something happens, u don't have the equity necessary to get out of the house (may be upside down in bear market) and u won't be able to afford the payments anymore
but if u have 6+ months payments in savings and u can comfortably afford the payment that is FIXED, then there is no problem imo with going 100% and it's better than throwing money away on rent each month
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