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Old 05-15-2008, 09:28 AM
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jIM_Ohio jIM_Ohio is offline
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Again- OP is looking for a very specific answer (house payment they can afford in two years), yet is using very general estimates to make decision.

garbage in = garbage out.

OP should concentrate on 3-4 short term goals to make 1 intermediate goal work.

The intermediate goal is getting a house. Don't worry about what you can afford then, just know that it is a goal.

Then work all short term goals to get stars to align and allow the intermediate term goal.

Short term goals:

1) save 20% of paychecks. 10% to retirement and 10% to house fund.
2) keep expenses and debt low. Start repaying the debt now (why wait). Paying this down now saves you money and would allow a larger house payment because debt load would be lower.
3) pay cash for wedding and do not let wedding push debt higher.
4) do everything you can now to maximize fiance's earning power when he passes bar (maybe be flexible and you work 2 jobs now, so he studies and aces bar exam in a year or two).

My advice is specific for specific problems you have mentioned in posts. It does not solve your original question (how much house you can afford in 2 years), but I think we could agree if you did all of the above, your situation would be much better off financially in 2 years.

In addition what you might see is that it makes sense to move somewhere else (where husband gets hired based on earning power comment) and then you see house prices there are different than house prices where you are now.
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