re: House = (x)household income

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I don't think 20% down is very common anymore

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0% down oh yeah.

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Wife and I are house purchase/gross income = 2.1 . we tend to do okay and are comfortable. It's a 7/ 1 ARM on a 30yr payment plan. We will be out of the house in another 4 years. Probably bought a little too much house, but my income will triple+ in 4 years and the house is a easy resell. We are spending less on the house now than we did on rent living in Nola.