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How much house can I REALLY afford?
Asked by mowens (8403)
January 21st, 2011
I am looking to buy a house. According to this calculator thingy I found on my credit union’s website, I can afford approximately 2,200 a month on a mortgage payment.
That seems high to me, but I don’t want to be breaking my back to pay for the house.
I will be able to put some money down, but surely not 20%. Perhaps 5% or 10%?
I will live there for a long time, or until the house value raises enough to make sense for me to leave.
I just want to know what kind of house 1500–1700 a month will buy me.
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