Don’t have 20% for next home…
Hi all,
My husband and I have profited $17,300 from our current home (seller proceeds total is $42,309).
We have lived in an area where it is halfway point between my husbands work and my work. I have done my 1 hour to 1.5 hour commute for 4 years now!! I can’t do it anymore. Especially with a 1 year old.
My husband likes to drive and has a better drive (traffic wise), so we are moving closer to my work.
The new house we are looking at, we can only put down about 17% on the down payment, and mortgage will be a little over 25% of our take home pay. Is this an AWFUL idea?
We are not looking at a crazy expensive home, very normal house, safe area, and not THE BEST school district, but good enough.
We put it an offer, but haven’t heard back yet. If they counter, we can back out.