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Would you be able to buy a house with this?

Anonymous
Posted by Anonymous
  • 146 Replies
Annual Income: 56k plus $5k in CS (child is 10)
$20k ready for down payment
$20k emergency savings

*I can not
Posted by Anonymous on Nov. 23, 2017 at 5:08 PM
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Replies (1-10):
LaughinTattoo7
by Frenchy on Nov. 23, 2017 at 5:10 PM

yup

Anonymous
by Anonymous 2 on Nov. 23, 2017 at 5:10 PM
As long as I was completely debt free otherwise I would be fine with that.
mojogirl
by Ouiser Boudreaux on Nov. 23, 2017 at 5:12 PM
12 moms liked this
Depends on the house, the mortgage, taxes, insurance rates.
loquaciousred
by Platinum Member on Nov. 23, 2017 at 5:12 PM
Yes
cali_gurl
by Ruby Member on Nov. 23, 2017 at 5:12 PM

No. Not where I live in CA in this current housing market. BUT I did making a lot less than that with little down payment when I bought my house in 2010 at the bottom of the market. 1500 sq ft  3 bed 2 bath in CA. Now it is worth more than twice I paid for it 7 years ago.

Anonymous
by Anonymous 1 - Original Poster on Nov. 23, 2017 at 5:13 PM
I have 98k in student loan debt, but my payment is $260 a month and will be forgiven in 10 years. No other debt. Credit score is 756-761 depending on which one you look at.

Quoting Anonymous 2: As long as I was completely debt free otherwise I would be fine with that.
Anonymous
by Anonymous 3 on Nov. 23, 2017 at 5:13 PM
Not here in this area.
Anonymous
by Anonymous 4 on Nov. 23, 2017 at 5:13 PM

I could buy a condo in a somewhat decent neighborhood, or a small house in a slightly-okay neighborhood. 

No way could we buy in our current neighborhood. We couldn't even rent in this neighborhood on that income. 

Anonymous
by Anonymous 5 on Nov. 23, 2017 at 5:14 PM
1 mom liked this
Definitely. Might not be the nicest place, but at least passable in an okay-ish area.
cali_gurl
by Ruby Member on Nov. 23, 2017 at 5:14 PM

where do you live? what are housing prices like?

Quoting Anonymous 1: I have 98k in student loan debt, but my payment is $260 a month and will be forgiven in 10 years. No other debt. Credit score is 756-761 depending on which one you look at.
Quoting Anonymous 2: As long as I was completely debt free otherwise I would be fine with that.


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