I am in a similar situation with Angela. I am looking to buy, but with only 10% down – in PUSD. The voice of prudence says to save 20% down and buy in 3-4 years from now so that I won’t have PMI. I CAN put 20% down if I take a home loan from my 401K. Either way if I buy now I would take a risk since I won’t have much left in cash reserves. ANd who knows about job stability? Mine would never be more certain than a couple of years at a time…
If I wait a few years the houses I wanted may not change that much in price, but the monthly payment would have increased by a lot due to the rates increase – and they would have become once again unaffordable for me. So as a buyer I would continuously chase the market, having to settle for much less and throwing money on rent down the drain.
I do agree that those will be good things, only I lament that I’ve been caught in the middle – they should’ve had those measures in place YEARS ago (or rather, maintain them).
