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Real Estate
Reply to "would you take out a mortgage that is half of your take home pay?"
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[quote=Anonymous]Oh HECK NO! Especially not with what you said here: "After non negotiable bills (electricity, natural gas, small cable and cell phone bills, car payment [no student loans or cc debt]), I will have 1297.22 per month left for food, gas for the car, clothes, travel, furnishings contributions, and savings contribution. Will have 6k in bank after closing, or 40k if I take out a residential TSP loan." When qualifying the lender will want to see your savings account ledger. They like to see a minimum of 2-3 months in reserves. No way will you qualify, and that's a good thing. You're putting yourself in a very tight position. [/quote]
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