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Chasing the mortgage
Jul. 16th, 2001 12:51 pmI did the math. I did the math twice. I'm good at those math-type things.
And yes, the four of us could afford a house, and pretty nice house at that, considering this is Seattle, home of the over-priced housing.
There's just one big catch. And Mom brought it up:
"What are you going to use for a down payment? Your virtue?"
Ow. True, and we both know it, and she still loves me, but ow - a definite killer of any happy house-owning plans.
Even if we shoot for 5% down, instead of the 20% that's fairly standard, that's still a big ass chunk o' change. Even with all my UW benes and first-time buyer status and that rot - no dice. My only savings is sitting in my retirement account, and I can't borrow enough off of that to serve. Bleah.
And yes, the four of us could afford a house, and pretty nice house at that, considering this is Seattle, home of the over-priced housing.
There's just one big catch. And Mom brought it up:
"What are you going to use for a down payment? Your virtue?"
Ow. True, and we both know it, and she still loves me, but ow - a definite killer of any happy house-owning plans.
Even if we shoot for 5% down, instead of the 20% that's fairly standard, that's still a big ass chunk o' change. Even with all my UW benes and first-time buyer status and that rot - no dice. My only savings is sitting in my retirement account, and I can't borrow enough off of that to serve. Bleah.
