Reply to How much mortgage can we afford?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]When we had student loans from DH's law degree we bought a cheap townhouse in a gentrifying area, and we didn't have any car or consumer loans. We drove an old sedan until the student debt was paid off.

750k is insane. Look for a condo or townhouse where your PITI costs are as close to rent as possible.[/quote]

Agree that trying to reduce expenses with that much in loans is really important. $722 for a car lease sounds high, but I don't know when OP and her husband got their lease and if interest rates were already high. It would be a shame if they were driving around in a BMW and not paying off loans/funding retirement/funding 529s. [/quote]

Likely what they are doing.  They should have been paying down the student loans even during the deferral period.  And certainly should be renting for the near future until they can get a grip on their finances.  It should only take 2-3 years to pay off the student loans and another 5-6 months to pay off the car/lease.  [/quote]

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