As Suzy Orman would say DENIED! No sorry, BUY BUY BUY! You’ve got the down payment and rates are at historical lows, so if you can get the house you want where you want, then you have my blessing.P.S.-Suzy would probably want you to have 6-8 months of cash in reserve, so if you are planning on not paying PMI that would mean you can afford a 250k house, which we all know doesn’t get you much today in San Diego. Actually I don’t really know if she means 6-8 months of income or living expenses, could be a big difference.
