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Forum -> Household Management -> Finances
Mortgage almost same as rent, no downpayment



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amother
OP


 

Post Sun, Jul 19 2020, 7:23 pm
So frustrating
I need to move and am at a point where the monthly payments for owning would be almost the same as rent, but dx have quite enuf for a down payment Banging head
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amother
Lilac


 

Post Sun, Jul 19 2020, 7:26 pm
Don't feel bad. With interest factored in (even as low as it is now), sometimes it still pays to rent (for ex. , If you plan on moving withim five years).

Also there are oh so many hidden expenses to owning.


On another note, look into options of putting down very little. I know people who've out down 3-5 percent!
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ez-pass




 
 
    
 

Post Sun, Jul 19 2020, 8:40 pm
Many ppl put down a a little as 3%. I suggest you call a mortgage professional and see what your options are. You may be surprised to find out that maybe you can buy. You can pm me for a name if you don't know of someone.
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amother
Yellow


 

Post Sun, Jul 19 2020, 10:38 pm
What is dx in this context?
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shanie5




 
 
    
 

Post Sun, Jul 19 2020, 10:50 pm
amother [ Yellow ] wrote:
What is dx in this context?


do not or don't
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Amarante




 
 
    
 

Post Sun, Jul 19 2020, 11:20 pm
Have you figured all expenses which include taxes plus utilities which are higher for single family homes generally. Also homes will have maintenance expenses as well as need expensive repairs or appliances periodically.

However a mortgage broker would be the best way to start in terms of finding a loan with the lowest down payment.
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amother
White


 

Post Wed, Aug 26 2020, 1:34 pm
Problem is, what it cv someone lose a job , or if u count on a tenanat in basement, what if he doesnt pay rent, or moved out and you didnt find a well paying one.
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