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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]The biggest issue, as others have said, is that you'll only have $6K in savings. That's REALLY tight -- just look at threads here for how much common repairs cost. Replacing a water heater will be $2K. A sewer line repair will bankrupt you. You also need to be realistic about insurance premiums - ours have risen 30% over the last 3 years with zero claims, and it's still cheaper than anywhere else I could find when I compared around. What's your income trajectory? Can you take on a roommate? Are you handy enough to fix things on your own? You can't assume that rates will fall in the next year enough to make a refinance make sense. [/quote]
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