Quote:
Originally Posted by Gretchen
All I wanted to say is - do not overextend yourself and get into a mortgage that will be pushing the limits on your income. Our condo was about the only thing in our price range, of course I wanted a home, but now I am so glad we stayed within our limits. Our mortgage was not much more than the rentals in the area. We paid off our mortgage in 10 years, just because you can get a 30 year mortgage does not mean you need to pay over 30 years. Pay additional principal whenever you can for financial peace of mind when you are older. Good luck in your search, hope you find something decent within your range.
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This is very good advice...so many people didn't do this and looked what happened with the housing market
I'm in a pretty good position, because my dad is going to help me. Eventually he will be moving in with me, so it has to be something we agree on. He is getting a loan, because his credit rating is astronomical and the house will be paid for(the house he lives in is already paid off), I just have to pay back the loan, which is at a VERY low interest rate. I'm thinking that putting extra money on it every month will put me in a good position for retirement time
