Originally posted by PerfectSeoul
Where do you guys live/work??? The average house in my area costs $250k+!!! Damn, I can't see how you teens/early 20-something's can afford to be on your own and have a house. The best I can hope for is a dinky shed!
Assuming I'd follow what *most* people do, pay 10% down and not have the monthly payment not more than 25% of EGI at the current prevailing 30-yr. rate, then I'd make payments of $1,500 a month and need to make over $72,000 a year!!! Wherever you guys work and live, I need to mov there!
i live in milwaukee, he lives in racine, just south of milwakee. nice houses can be had here for <100k:rick:
egi = earned gross income
??
if so, 25% of my egi is about 550 per month. thats a payment on a 30 year mortgage for a ~$95ish thousand house.
but of course, i RENT
for 600/month. i wanna get a duplex and charge some chump 600/ month
h: