[quote=deadzone]What areas in San Diego is mortgage with minimal down payment less than rent? Probably only undesirable areas.[/quote]Mira Mesa. This house: http://www.sdlookup.com/MLS-140064625-10221_Trails_End_Cir_San_Diego_CA_92126 @ $450k with $90k down, P+I = $1600. PITI would be around $2100. Rent for that house is currently going for ~$2100. So, yeah, it’s still out there.
Unless you mean minimal down as in <20% down. In that case, I would suggest not to buy if you can't afford to save enough to have 20% down. It doesn't matter if it's cheaper than rent. It's better to save enough for 20% down and still have some set aside for a rainy day before considering making such a big purchase.
