Home › Forums › Housing › My girlfriend wants to buy a condo in north county. But what do the Piggs say?
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March 8, 2009 at 10:38 PM #15254March 8, 2009 at 11:03 PM #362556blahblahblahParticipant
If she wants to buy a place she shouldn’t spend more than 3X her annual income, 4X at the outside. So the max she should pay for her condo is $90-120K.
March 8, 2009 at 11:03 PM #362850blahblahblahParticipantIf she wants to buy a place she shouldn’t spend more than 3X her annual income, 4X at the outside. So the max she should pay for her condo is $90-120K.
March 8, 2009 at 11:03 PM #363000blahblahblahParticipantIf she wants to buy a place she shouldn’t spend more than 3X her annual income, 4X at the outside. So the max she should pay for her condo is $90-120K.
March 8, 2009 at 11:03 PM #363041blahblahblahParticipantIf she wants to buy a place she shouldn’t spend more than 3X her annual income, 4X at the outside. So the max she should pay for her condo is $90-120K.
March 8, 2009 at 11:03 PM #363150blahblahblahParticipantIf she wants to buy a place she shouldn’t spend more than 3X her annual income, 4X at the outside. So the max she should pay for her condo is $90-120K.
March 9, 2009 at 12:10 AM #362576TheBreezeParticipantI didn’t quite understand your post. The company she works for pays her $1600/month rent? If she bought, would she herself be making the monthly payments or would the company do it?
Why does she want to buy if her rent is paid for? This makes absolutely no sense. She would be giving up a $1600/month benefit in exchange for an approximately $1800-2000 month liability. That’s a $3,400 swing. How could anyone think this is a good idea?
Personally, I think it’s outrageous that someone in your girlfriend’s position could get a loan for $250K. After taxes, the monthly payment would consume almost all of her monthly nut. Unfortunately, FHA will probably welcome your girlfriend with open arms only to see her foreclosed upon in less than a year.
Plus, it’s almost guaranteed that the place your girlfriend ends up buying will be worse than her current condo. I can think of no reason why she should buy.
March 9, 2009 at 12:10 AM #362870TheBreezeParticipantI didn’t quite understand your post. The company she works for pays her $1600/month rent? If she bought, would she herself be making the monthly payments or would the company do it?
Why does she want to buy if her rent is paid for? This makes absolutely no sense. She would be giving up a $1600/month benefit in exchange for an approximately $1800-2000 month liability. That’s a $3,400 swing. How could anyone think this is a good idea?
Personally, I think it’s outrageous that someone in your girlfriend’s position could get a loan for $250K. After taxes, the monthly payment would consume almost all of her monthly nut. Unfortunately, FHA will probably welcome your girlfriend with open arms only to see her foreclosed upon in less than a year.
Plus, it’s almost guaranteed that the place your girlfriend ends up buying will be worse than her current condo. I can think of no reason why she should buy.
March 9, 2009 at 12:10 AM #363020TheBreezeParticipantI didn’t quite understand your post. The company she works for pays her $1600/month rent? If she bought, would she herself be making the monthly payments or would the company do it?
Why does she want to buy if her rent is paid for? This makes absolutely no sense. She would be giving up a $1600/month benefit in exchange for an approximately $1800-2000 month liability. That’s a $3,400 swing. How could anyone think this is a good idea?
Personally, I think it’s outrageous that someone in your girlfriend’s position could get a loan for $250K. After taxes, the monthly payment would consume almost all of her monthly nut. Unfortunately, FHA will probably welcome your girlfriend with open arms only to see her foreclosed upon in less than a year.
Plus, it’s almost guaranteed that the place your girlfriend ends up buying will be worse than her current condo. I can think of no reason why she should buy.
March 9, 2009 at 12:10 AM #363061TheBreezeParticipantI didn’t quite understand your post. The company she works for pays her $1600/month rent? If she bought, would she herself be making the monthly payments or would the company do it?
Why does she want to buy if her rent is paid for? This makes absolutely no sense. She would be giving up a $1600/month benefit in exchange for an approximately $1800-2000 month liability. That’s a $3,400 swing. How could anyone think this is a good idea?
Personally, I think it’s outrageous that someone in your girlfriend’s position could get a loan for $250K. After taxes, the monthly payment would consume almost all of her monthly nut. Unfortunately, FHA will probably welcome your girlfriend with open arms only to see her foreclosed upon in less than a year.
Plus, it’s almost guaranteed that the place your girlfriend ends up buying will be worse than her current condo. I can think of no reason why she should buy.
March 9, 2009 at 12:10 AM #363170TheBreezeParticipantI didn’t quite understand your post. The company she works for pays her $1600/month rent? If she bought, would she herself be making the monthly payments or would the company do it?
Why does she want to buy if her rent is paid for? This makes absolutely no sense. She would be giving up a $1600/month benefit in exchange for an approximately $1800-2000 month liability. That’s a $3,400 swing. How could anyone think this is a good idea?
Personally, I think it’s outrageous that someone in your girlfriend’s position could get a loan for $250K. After taxes, the monthly payment would consume almost all of her monthly nut. Unfortunately, FHA will probably welcome your girlfriend with open arms only to see her foreclosed upon in less than a year.
Plus, it’s almost guaranteed that the place your girlfriend ends up buying will be worse than her current condo. I can think of no reason why she should buy.
March 9, 2009 at 1:02 AM #362586surveyorParticipanthaha
Uh oh, she’s nesting! Better run!
Kidding!
March 9, 2009 at 1:02 AM #362880surveyorParticipanthaha
Uh oh, she’s nesting! Better run!
Kidding!
March 9, 2009 at 1:02 AM #363030surveyorParticipanthaha
Uh oh, she’s nesting! Better run!
Kidding!
March 9, 2009 at 1:02 AM #363071surveyorParticipanthaha
Uh oh, she’s nesting! Better run!
Kidding!
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