...we still ended up using the VA program though (I'm retired Air Force) as they were better rates than conventional loans. In the end, we're paying less per month than we were for a 900 sq ft apartment. Living in the Midwest helps; we could never afford to live in a major metro area…Â
Gen X here, but didn't buy our first house until 2018. I can understand a lot of the frustration from people younger than me in this situation. Bad credit decisions, plus a year-long unemployment for me held us back, until we started getting back on track financially. I started an…Â
Location is of course a determining factor. I live in the midwest (Omaha NE) where $250K can get you 2000 square feet in a good neighborhood. The house I live in now would probably be worth anywhere from 3 to 8 times more if it were in LA, SF, Boston, NYC or Seattle metro areas.…Â
Generally speaking, if you can afford rent, you can afford to own. The tricky part is getting the loan. If your debt to income ratio (monthly credit debt divided by gross monthly income) is below 40%, that's a good start. Most banks won't tell you what their minimum credit score…Â
I lived in Biloxi MS for a while, that’s where I found out I get an allergic reaction to fire ant bites. They can all die in a fire for all I care...
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