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Old 07-26-2007, 02:09 AM
mary d mary d is offline
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Default i'm single in my 30s and want to buy my 1st house on my oun is this a good idea?

i make about 60k and have some money put away for a downpayment.Am i better off saving money renting with roomates and waiting till i find someone to marry and buy a house together?am i better off buying now alone?How hard is it to oun a house alone?
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Old 07-26-2007, 02:09 AM
sunshine01 sunshine01 is offline
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sounds like you can aafford it..and it is as easy to own a home as it is to rent..except all the mantainance is on you..go for it..it is a real investment..good luck
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Old 08-02-2007, 12:06 AM
Metternich Metternich is offline
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Depends on your lifestyle. If you like to be liquid, then don't buy a house that represents a majority of your wealth. Rent instead and you can kick it with all your money...
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Old 08-06-2007, 05:50 AM
andrew andrew is offline
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It depends on few other things also Mary. Like how much price range you want to buy the house in. You will have to factor in whether you\'d be able to afford it with your income of 60k.

The monthly mortgage payments should be affordable for you. To judge that you need to tell us what other monthly debt payments you have currently. Mortgage company would be using these figures to calculate your debt to income ratio and judge if higher than normal or not.

Other important thing is your credit score and overall credit history, if there are no derogatory marks on your credit report then you can expect to get better interest rate.

So if all conditions are favorable then you can go ahead on your own and don\'t have to wait until marriage.
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Old 08-06-2007, 10:47 PM
scribbled scribbled is offline
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Default i agree

i agree with the comments posted. i think it depends on the price of the home you will purchase and your lifestyle. of course if you wanted to live in the hood you could afford it easily with that type of income, but i'm sure you don't.
my sister was recently looking to purchase her first home and she told me about this program ( Home Ownership Accelerator | AmeriCorp Home Loans ) that is helping her to pay less interest on her mortgage without her having to change the way she spends her money.. she says it's working out well so far for her too cause it is so simple to use.
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