Can we afford 950k home with this stats
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Anonymous
| I don’t understand why at 380k+ hhi you are still carrying 160k student loans. Did you just get married?? With no kids you should be able to pay that off in less than a year. Pay it off first. |
Anonymous
| I'd pay the debt first, remove for 20% down and then yes. |
Anonymous
| This is the equivalent of a $1.1mm house on $400k income. Debt is debb for the most part. Yes you can do it OP. I may not even rush to pay off the loans depending on rate. We just used laurel road twice in the past year to refi from 7% floating down to 3.9% fixed. |
Anonymous
| With not having kids, I'd live in a cheap rental for the next five years and throw all your extra money on the student loans and pay them off. Or if you're really itching to buy, get something smaller and cheaper, so that you have the flexibility to get those loans done before you have kids. |
Anonymous
|
Yes you can afford it easily. Anyone telling you to not buy a house is stupid. They own properties in this very solid DC market and building wealth like crazy.
Why don't they want you to be part of that dream? The $950k house you are buying today will be worth millions in the next couples of years. |
Anonymous
You're spouting nonsense. |
Anonymous
| Give us a fuller picture? How much do you have in retirement accounts? What are the interest rates on the student loans? Do you own a home right now or is the $250K sitting in cash somewhere? |
Anonymous
This is true. If we had followed some advice on this forum we would have never bought a house after the recession. I'm glad we bought and now our house has appreciated 50% since then. |
Anonymous
Wait, what!? |