Quote:
Originally Posted by noppenbd
Whether or not his advice is actually feasible is another issue.
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I think this is where some people take issue with his advice. It might sound great on paper until you actually go house hunting.
We paid $142,000 for our house. To have the same payment on a 15-year loan, we could only have spent about $111,500. I can tell you after house hunting for months and seeing dozens of homes that there was nothing in this area for $30,000 less than we paid. We had enough trouble finding something decent for what we did spend.
So DR's advice might work sometimes, for some people, in certain areas, but it doesn't work everywhere or all the time.