Buying A Home Is Great, But Can You Really Afford To?

Published on 25 Aug 2019, 22:09
Rents are skyrocketing across America right now, but that doesn't mean everyone should rush into home ownership.
According to Business Insider, if you have to dip into your emergency fund to make a downpayment, you're not ready.
If buying a house means you're spending more than 30% of your take-home pay, you're not ready, either.
Likewise, if your credit score is below 620, or your debt-to-income ratio is above 43%. You'll get terrible mortgage rates that will cost you a fortune!
Finally, if your job demands that you move around a lot, save yourself the hassle. Invest your money, instead!

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