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Buying a house and paying off my car..

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  • #16
    Originally posted by maat55 View Post
    My guess is, that you will have to find a house with about 35k to 40k equity just to borrow 26k. Again, not enough fairy dust. Prove me wrong.
    maat55,
    The OP posted this:

    Originally posted by thepunishersssc
    but either way I plan on getting a house...my first purchase is going to be an investment property...probably buying a house around 90-110k which only puts my DTI around 23%..having the lower payments for my car would be great...
    So, he would be looking for a home with a sale price that is undervalued by 30 or more percent.... Matt, I'm with you--who is going to just give away 30 percent of the value of their home?
    (Especially with the falling home values... Some folks might find it difficult to sell their home because they don't even have that much equity in their home.)

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