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re: The math for buying a home no longer works, per WSJ
Posted on 12/20/23 at 9:34 am to Upperdecker
Posted on 12/20/23 at 9:34 am to Upperdecker
quote:
First time home buyers should be buying below their income levels.
The biggest problem is most banks won't give you a mortgage that small because there's not enough profit in a small loan for the lender.
It's easier to get approved for a $200-300k loan vs a $50-150k loan.
The current system does not allow most people to buy below their income
This post was edited on 12/20/23 at 9:37 am
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