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[quote=Anonymous][quote=Anonymous]I am going through a divorce. He has agreed to let me buy him out of the house, sfh colonial style 4br in a good exurb school district where most homes are exorbitantly high or smaller split levels...so I believe the value will go up.
The rates are obviously high. I locked at 7.125% for a 30 yr conventional. I was approved but haven't closed yet... My monthly mortgage payment will go up by 1500. I'll still have over 20% equity in the home. This would put monthly mortgage at 3600. My salary is 149k. For the same mortgage I would not be able to get as good of a house in as good of a neighborhood, plus I'd like to keep my kids in the same schools.
Now I'm rethinking whether this is the best way to go. While my gross salary makes it all seem doable, I don't feel like I have an extra 1500 laying around per month??! (Finances are already split with stbxh)
Should I consider doing an ARM instead? Should I sell instead? Should I just plan to do more side hustling and get more income? (Not completely undoable - I did contract work before)
I don't know if this is even enough information to advise. I'm tired of thinking.[/quote]

Is he paying any child support or alimony [/quote]

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