Should I buy a house? Can I pay?
I am considering buying a home in the near future. My credit is good (about 730) and have very low debt (just paid off my car loan and pay the credit cards each month). I saved over $ 20,000 for a down payment (10%) and committed myself. My fiance has a bad credit rating and not as much as I could, I earn with my credit / income, etc., but we share the mortgage costs. Her parents have agreed to co-sign for him if we can use her income when we need them (his is $ 30k) We currently have an apartment for $ 750 per month and houses starting in our area ( Scottsdale, AZ) would be about $ 215K and are generally built in the 60s. Is it wise to buy now or should I save for a larger drop of a first payment? Our rent is so cheap, but I’m still very frustrated in a small town and probably move to a bigger apartment, even if I did not buy. But I’m afraid if I wait until after we get married (Fall ’09) property prices will increase unerschwinglichLeider there is not much different than adding his love and companionship for me, I’m happy. I think it’s better to qualify on my own and just let his half of the mortgage as a roommate.