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Another aspect of the mortgage crisis. | by Peace_man | 2008-07-29 09:47:29 |
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The laws changed recently | by subbywan | 2008-07-29 09:51:05 |
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That makes sense. | by Peace_man | 2008-07-29 09:54:32 |
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It's a two-way street. Yes the banks "overlent", | by merlin | 2008-07-29 09:56:20 |
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Yup. I was pushed to make a larger loan | by subbywan | 2008-07-29 09:57:53 |
| When I ran all my paperwork, my mortgage broker |
by merlin |
2008-07-29 10:00:39 |
came back and said I was pre-qualified for ~$180k.
I looked at him and asked him to repeat the number.
~$180,000
My jaw hit the floor. I'd run the numbers (using 25% of takehome as my rule of thumb) and the number I came up with was MUCH lower than that.
I over-bought by about $10k from where I was really comfortable, but it was a steal on the house. Fortunately, I scrimped and scraped, got the cars paid off, and it's not an issue on the mortgage payment. |
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[ Reply ] |
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Yup. I go with 25-30%, max. (n/t) | by subbywan | 2008-07-29 10:02:21 |
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We were pre-qualified for $300 000 | by MatthewDBA | 2008-07-29 10:03:53 |
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Don't buy in Vancouver! | by Illiad | 2008-07-29 10:07:10 |
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I bought 2,600 sq. ft. (4BR,2.5BA) for < $160k (n/t) | by merlin | 2008-07-29 10:11:52 |
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$160K | by Illiad | 2008-07-29 10:25:40 |
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*snerk* That made me LOL. | by merlin | 2008-07-29 10:27:32 |
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That is the size of my first apt that I paid about | by Classic_Jon | 2008-07-29 11:07:50 |
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Okay, here's one for you. | by kelli217 | 2008-07-29 13:00:54 |
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Oh, sorry, that one's $300k. Wrong link. | by kelli217 | 2008-07-29 13:05:54 |
