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> If someone can pay this mortgage […] then they can save a 6K downpayment Not if they are paying rent - there would be no surplus every month to save.
by throwaway210222 5y ago
> If someone can pay this mortgage […] then they can save a 6K downpayment
Not if they are paying rent - there would be no surplus every month to save.
- pnutjam 5y agoBingo, my rent is going up $100 bucks a month this year.
- miketyson2000 5y agoThe sad reality is that if you can't save 6k, house ownership may not be a viable option for you. Things break. Things need maintenance.
- ChrisLomont 5y ago>there would be no surplus every month to save. IF someone is so on the edge that they have zero extras, then they should not get a mortgage, because they're one hiccup away from losing it all. This is why I put in the phrase "without killing themselves." And, if you want to save that 6K mortgage downpayment, downsize life by a little - it really is not much to do. If you're so poor you cannot do this, there are federal programs to assist. Again, this is a non-issue for pretty much every person that is also capable of paying a mortgage.