Re: First job and owning a home? Help!
These days, the joke is that if you can fog a mirror, you can get a mortgage. The real question is whether you can get a 30 yr fixed mortgage, which will give you a stable payment and allow you to build equity. You might just as well seek out a banker and ask, and have him run the numbers, especially the monthly payment.
If he says no, frankly that's the best answer. There's a lot of consensus out there that this is close to the top of the real estate market. While you wait for the bubble to deflate, see if you can save the monthly payment and still be comfortable. There's more to owning a house than the mortgage.
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