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Real Estate
Reply to "$410k house with DH salary stretching ourselves too thin?"
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[quote=Anonymous][quote=Anonymous]We found a house we love but my gut says we can't afford it. My DH makes $84k plus bonus (usually 10%) and I SAH. We have 20% for down payment but [b]would have just $10k left in savings[/b]. We have tiny amount of student loan debt and no other debt. My gut says it's too much of a stretch but the numbers say it's do-able. What do you think?[/quote] A large chunk of that $10k would be eaten up by closing costs (unless you can roll them into the loan, in which case they'll cost you a lot more over time). On the flip side, when comparing mortgage costs with current rent costs, don't forget that you'll have large tax deductions for mortgage interest. [/quote]
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