Not to mention mortgage rates are so damn high that your mortgage payment is basically like paying rent to the bank because you’re barely touching the principal on the loan
This is part of why I’m planning on over saving for my downpayment. If I’m not paying less than my rent there’s no way in hades I’ll ever be able to afford repairs
I just bought a house, and honestly, dont even try to get a above 20% to knock off pmi (assuming thats a thing where you are). When we sold our previous house and did a recast with the proceeds, the difference between hitting 20% and hitting the 20% + $50k was about $200 in monthly payments
Not to mention mortgage rates are so damn high that your mortgage payment is basically like paying rent to the bank because you’re barely touching the principal on the loan
This is part of why I’m planning on over saving for my downpayment. If I’m not paying less than my rent there’s no way in hades I’ll ever be able to afford repairs
I just bought a house, and honestly, dont even try to get a above 20% to knock off pmi (assuming thats a thing where you are). When we sold our previous house and did a recast with the proceeds, the difference between hitting 20% and hitting the 20% + $50k was about $200 in monthly payments