Reply to 670 score, 16k, want to borrow 700k

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am so confused here. How do you make that much income and have such a crappy credit score??
And why on earth are you looking to buy a house in the $700,000 range with so little savings?? Why aren’t you looking at least in the $500,000 range? There are plenty of nice houses for that much.[/quote]

Where? Any place in that range I’ve found either is a tear down, a school that would require private school, or a crazy high (hoa ) condo.
I would like to keep my entire mortgage, taxes, and etc to under 4000 preferably in the 3300 range.[/quote]

DP but honestly I think you should buy a condo. The condo market is not going insane like SFHs and you can’t afford down payment/closing costs on a SFH anyway. The HOA fees are annoying but you’re 2 years from being able to buy a SFH. Might as well build some equity. [/quote]

Buying a condo to live in for just a couple of years is a terrible idea.  The closing costs will more than eat up the small amount of equity OP is likely to accrue over that time period.[/quote]

Double check your math.  OP is currently setting $54k/yr on fire for rent. Merely not making money would be a huge win. [/quote]

OP doesn’t have to spend that much on rent.  They could move to a substantially cheaper apartment.[/quote]

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