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Real Estate
Reply to "Only 400k to spend: don't mind small but want nice"
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[quote=Anonymous][quote=Anonymous]People who pay over 500k are either: two lawyer families; helped by parents; extremely house poor; lucked out in pre-crash investment; or are a bit older and extremely thrifty (but will still probably end up house poor).[/quote] I really don't think this is true. You can get an FHA loan with very little down. This calculator shows that so long as you have no credit card/student loan debt you can qualify for a 500,000 loan with a HHI of around 125K. http://www.fha.com/calculator_afford.cfm We bought over 500K in 2010-- certainly don't fall into any of your above categories. [/quote]
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