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anyone else feel like they'll never afford a house???

Original post by keke2402

NIHA Posted:

Re: anyone else feel like they'll never afford a house???

Jess, you can put as little as 3-5% down, but then you have to pay insurance until you pay 20% through your monthly mortgage payments. I think I've read on other posts that there are ways to avoid this PMI insurance. Try a search.

I agree it's a shame that hardworking middle class people like police, fireman, nurses and teachers cannot afford decent housing!! I hope this changes soon.
curly2003 Posted:

Re: anyone else feel like they'll never afford a house???

You do not have to have 20% deposit. If that were the case I'd be homeless. You do however have to pay PMI which is Private Mortgae Insurance. It should only add $100-$250 to your monthly paymentd depending on the value of your home.

Jess2 Posted:

Re: anyone else feel like they'll never afford a house???

Thanks guys, that was something I've been wondering about lately!

HappyEverAfter Posted:

Re: anyone else feel like they'll never afford a house???

We are putting 5% down, with no PMI. FH worked out the mortgage, I think b.c we both have really high credit scores we were approved with no insurance. We actually were approved with no money down, but we are putting 5%.

Sassyz75 Posted:

Re: anyone else feel like they'll never afford a house???

I would love to move- but I just can't leave my Mom & Dad... living in New Jersey is hard enough...! What are we going to do when we have kids if we move & I don't know anyone there? I'll have no one to watch the kids? It scares me! Also- I would love to live in Florida but I can't take the heat... I just cannot- my DHs family lives there and so do my Grandparents- Orlando would be PERFECT for us b/c it's equidistant to both of our families- but I just CAN'T.. too hot, no good food & I'd be leaving my Mom. So I guess I have to save and wait. We are planning on buying a condo in one of the 'up & coming neighborhoods' in Jersey City- at least a 2 bedroom so I can have a kid- and then when we decide where we are going to live we'll move.

We will start our family before we have a house & I have no problem with that- I grew up in an apartment and it was fine.
WithThisRing Posted:

Re: anyone else feel like they'll never afford a house???

sassy i agree FL is hot...but its all airconditioned...

you go from your central air house to your air conditioned car to your air conditioned office. then back to your a/c car, a/c house and soak in the pool

and of course frozen drinks do help
Sassyz75 Posted:

Re: anyone else feel like they'll never afford a house???

You don't understand.. I am a HOT BOX... I am sweating my A S S off today and it isn't even that hot. DH would LOVE to move back home believe me.. he's from cocoa beach area by NASA.. but I just can't leave my mommy!

butterfly20 Posted:

Re: anyone else feel like they'll never afford a house???

everything is soo expensive.. we can afford a house if we bought now.. but im not so sure if house prices go up alot more

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