Need Help Buying my first place

[bearishgurl]

[quote=walterwhite]…What are you gonna do stay in this condo till you’re 59? Be free! The world is your somewhat contaminated oyster.[/quote]

;=P

[edna_mode]

How about you take your desperate hatred of making rent payments and compare that to the true costs of ownership? There’s lots of rent vs. buy calculators out there. But make sure you are seeing the hole picture: There’s a lot of money homeowners pay that goes down a black hole too; it isn’t all equity and roses.

Would you hate paying mortgage interest? (paying a dollar to fund $0.75 borrowed sucks)

Would you hate paying property taxes, homeowners’ association fees, Mello-roos, etc.? (can be hundreds of dollars a month).

Would you hate paying homeowners insurance? (you don’t have to insure the structure as a renter)

And those are the PREDICTABLE ongoing costs. Do you have the cash cushion to cover the “surprise” expenses?

Appliances break = hundreds of dollars if you catch them early; if they flood the place, then four figures easily. My inlaws had to re-level their house after many years of settling = a few grand. Add pest control (San Diego is a termite mound!).

And don’t forget the dreaded “special assessment”. The HOA across the street from us discovered it didn’t have enough to pay for new mandatory roofs = five-figure “special assessment”, due immediately.

So if you really don’t like your renting situation, it’s a lot cheaper to try renting somewhere else first. If you like, rent in the neighborhood you think you’d like to buy for a year. Nothing like experience to determine fit, and furthermore you will hear local information from the neighbors that no website can substitute for.

[edna_mode]

How about you take your desperate hatred of making rent payments and compare that to the true costs of ownership? There’s lots of rent vs. buy calculators out there. But make sure you are seeing the hole picture: There’s a lot of money homeowners pay that goes down a black hole too; it isn’t all equity and roses.

Would you hate paying mortgage interest? (paying a dollar to fund $0.75 borrowed sucks)

Would you hate paying property taxes, homeowners’ association fees, Mello-roos, etc.? (can be hundreds of dollars a month).

Would you hate paying homeowners insurance? (you don’t have to insure the structure as a renter)

And those are the PREDICTABLE ongoing costs. Do you have the cash cushion to cover the “surprise” expenses?

Appliances break = hundreds of dollars if you catch them early; if they flood the place, then four figures easily. My inlaws had to re-level their house after many years of settling = a few grand. Add pest control (San Diego is a termite mound!).

And don’t forget the dreaded “special assessment”. The HOA across the street from us discovered it didn’t have enough to pay for new mandatory roofs = five-figure “special assessment”, due immediately.

So if you really don’t like your renting situation, it’s a lot cheaper to try renting somewhere else first. If you like, rent in the neighborhood you think you’d like to buy for a year. Nothing like experience to determine fit, and furthermore you will hear local information from the neighbors that no website can substitute for.

[edna_mode]

How about you take your desperate hatred of making rent payments and compare that to the true costs of ownership? There’s lots of rent vs. buy calculators out there. But make sure you are seeing the hole picture: There’s a lot of money homeowners pay that goes down a black hole too; it isn’t all equity and roses.

Would you hate paying mortgage interest? (paying a dollar to fund $0.75 borrowed sucks)

Would you hate paying property taxes, homeowners’ association fees, Mello-roos, etc.? (can be hundreds of dollars a month).

Would you hate paying homeowners insurance? (you don’t have to insure the structure as a renter)

And those are the PREDICTABLE ongoing costs. Do you have the cash cushion to cover the “surprise” expenses?

Appliances break = hundreds of dollars if you catch them early; if they flood the place, then four figures easily. My inlaws had to re-level their house after many years of settling = a few grand. Add pest control (San Diego is a termite mound!).

And don’t forget the dreaded “special assessment”. The HOA across the street from us discovered it didn’t have enough to pay for new mandatory roofs = five-figure “special assessment”, due immediately.

So if you really don’t like your renting situation, it’s a lot cheaper to try renting somewhere else first. If you like, rent in the neighborhood you think you’d like to buy for a year. Nothing like experience to determine fit, and furthermore you will hear local information from the neighbors that no website can substitute for.

[edna_mode]

How about you take your desperate hatred of making rent payments and compare that to the true costs of ownership? There’s lots of rent vs. buy calculators out there. But make sure you are seeing the hole picture: There’s a lot of money homeowners pay that goes down a black hole too; it isn’t all equity and roses.

Would you hate paying mortgage interest? (paying a dollar to fund $0.75 borrowed sucks)

Would you hate paying property taxes, homeowners’ association fees, Mello-roos, etc.? (can be hundreds of dollars a month).

Would you hate paying homeowners insurance? (you don’t have to insure the structure as a renter)

And those are the PREDICTABLE ongoing costs. Do you have the cash cushion to cover the “surprise” expenses?

Appliances break = hundreds of dollars if you catch them early; if they flood the place, then four figures easily. My inlaws had to re-level their house after many years of settling = a few grand. Add pest control (San Diego is a termite mound!).

And don’t forget the dreaded “special assessment”. The HOA across the street from us discovered it didn’t have enough to pay for new mandatory roofs = five-figure “special assessment”, due immediately.

So if you really don’t like your renting situation, it’s a lot cheaper to try renting somewhere else first. If you like, rent in the neighborhood you think you’d like to buy for a year. Nothing like experience to determine fit, and furthermore you will hear local information from the neighbors that no website can substitute for.

[edna_mode]

How about you take your desperate hatred of making rent payments and compare that to the true costs of ownership? There’s lots of rent vs. buy calculators out there. But make sure you are seeing the hole picture: There’s a lot of money homeowners pay that goes down a black hole too; it isn’t all equity and roses.

Would you hate paying mortgage interest? (paying a dollar to fund $0.75 borrowed sucks)

Would you hate paying property taxes, homeowners’ association fees, Mello-roos, etc.? (can be hundreds of dollars a month).

Would you hate paying homeowners insurance? (you don’t have to insure the structure as a renter)

And those are the PREDICTABLE ongoing costs. Do you have the cash cushion to cover the “surprise” expenses?

Appliances break = hundreds of dollars if you catch them early; if they flood the place, then four figures easily. My inlaws had to re-level their house after many years of settling = a few grand. Add pest control (San Diego is a termite mound!).

And don’t forget the dreaded “special assessment”. The HOA across the street from us discovered it didn’t have enough to pay for new mandatory roofs = five-figure “special assessment”, due immediately.

So if you really don’t like your renting situation, it’s a lot cheaper to try renting somewhere else first. If you like, rent in the neighborhood you think you’d like to buy for a year. Nothing like experience to determine fit, and furthermore you will hear local information from the neighbors that no website can substitute for.

[moneymaker]

How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.

[moneymaker]

How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.

[moneymaker]

How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.

[moneymaker]

How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.

[moneymaker]

How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.

[Looking2buysoon]

[quote=threadkiller]How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.[/quote]

I pay $1,455 rent each month for a one bedroom apartment in Kearny Mesa.

My Fico Is low because I dont have enough credit and the 3 paid charge offs from 4-5 years ago still show up. (All items have been paid and the highest one was $1,200)

I only have arond 2k in savings. Bring home just under 4,500 a month after taxes, medical and 401k.

I feel like if I dont buy something now prices are going to go up and I wont be able to afford anything west of the 15 freeway.

[Looking2buysoon]

[quote=threadkiller]How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.[/quote]

I pay $1,455 rent each month for a one bedroom apartment in Kearny Mesa.

My Fico Is low because I dont have enough credit and the 3 paid charge offs from 4-5 years ago still show up. (All items have been paid and the highest one was $1,200)

I only have arond 2k in savings. Bring home just under 4,500 a month after taxes, medical and 401k.

I feel like if I dont buy something now prices are going to go up and I wont be able to afford anything west of the 15 freeway.

[Looking2buysoon]

[quote=threadkiller]How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.[/quote]

I pay $1,455 rent each month for a one bedroom apartment in Kearny Mesa.

My Fico Is low because I dont have enough credit and the 3 paid charge offs from 4-5 years ago still show up. (All items have been paid and the highest one was $1,200)

I only have arond 2k in savings. Bring home just under 4,500 a month after taxes, medical and 401k.

I feel like if I dont buy something now prices are going to go up and I wont be able to afford anything west of the 15 freeway.

[Looking2buysoon]

[quote=threadkiller]How much are you currently paying in rent. Do you make 4500 or take home 4500, big difference, at least for me(making 5200, taking home 3000). Check out Zillow’s rent estimate vs. zestimate. If you can find a place that you qualify for, where PITI is near what you are paying for rent or even a few hundred more then I would definitely give it a try. Your FICO seems low to me, I think that is the lowest FICO that you can get a mortgage with. You do not mention how much you have in savings. I think Suzy Orman would deny you, but I personally think it is a good time to buy. I know renters and landlords don’t like to invest in their places, but as a “homeowner” it will probably be your strongest urge after “buying”.[/quote]

I pay $1,455 rent each month for a one bedroom apartment in Kearny Mesa.

My Fico Is low because I dont have enough credit and the 3 paid charge offs from 4-5 years ago still show up. (All items have been paid and the highest one was $1,200)

I only have arond 2k in savings. Bring home just under 4,500 a month after taxes, medical and 401k.

I feel like if I dont buy something now prices are going to go up and I wont be able to afford anything west of the 15 freeway.

[Author]

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