Marvella Benward: It sounds like you're doing a lot of the right things. Get pre-approved by your mortgage company or bank. This will allow you to move more quickly on a purchase when you find the one you want.It sounds as if your biggest concern is the commitment. If it is as you say and the rents are lower than monthly mortgage payments, you can make your home a rental if you want to move.Another plus: the mortgage interest is tax deductible. This effectively brings your mortgage payment even lower....Show more
Hal Rouse: If you have 20% down plus an 8 month emergency fund you can afford it. Look into foreclosed houses for even cheaper rates
Bennie Lantgen: Before you buy, talk to a local Realtor or look in your news paper at the Real Estate section. There may be some information about the housing climate in your area. You may find out that renting is as good as buying a house. If you are still on the fence and have a steady stream of income, buying may ! be the better option. It all comes down to you and what you think you can handle.
Porfirio Cahall: EDIT: Forgot to add, the estimates I've gotten so far include estimated taxes/insurance.
Bryant Pillitteri: 2
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