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Reply to "am i insane for considering this? 820k mortgage on a 240k income"
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[quote=Anonymous]That would scare me, even with very secure jobs (which I'm guess you are both in government, so probably they are). So you feel in love with a 980k house and you're trying to make it work. I get it, this market is painful and I understand that what I'm about to say will sound impossible. You need to find a cheaper house and put down the same down payment. In fact, if I were you I'd wait a year, save aggressively, and try to put down a down payment of 200k+ on a house that was under 850k. I think in the long run this would be much more manageable. Take your efforts to stretch your budget and apply them to getting a 15 year mortgage instead, so you can pay it down faster. You only have one child! You can find something in this range in a decent neighborhood, I promise. You will have to make some compromises, but trying to do what you are proposing will mean having to make compromises literally every day because you will be so pinched for cash.[/quote]
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