Home buying nerves?

Question

Looking at a 850 note monthly including insurance-
Together we bring in 2,800 a month.

Is this affordable? It's 10 dollars more than 30% of our monthly income, but we're also going to up for raises in a few months- and my S/O *should* be getting a very sizable promotion- but if it falls through...

WOULD ANYONE ELSE BE COMFORTABLE WITH THIS? Never done anything before like this in my life!

To be honest I grew up beyond poor, I'm currently 25 and has never even had a bedroom. I sleep on my families couch, and before we had a couch I slept on floors.. for 25 years! Never even had a baby room as an infant- so this is just a massive step!

Pre closing nerves

Answer

We bring in just under 3000, and our mortgage is 1000 of that, we are pretty comfortable with that.

Answer

We bring in about $8k/month and our mortgage is $950. Take your mortgage, insurance, property taxes, utilities, car payments/insurance and daily living expenses and if you're under what you bring in every month (with a cushion for emergencies), you'll be fine! Do not buy a house if you can't afford it today though. Don't depend on future raises or promotions.

Answer

I was always told never to purchase a house unless you can put 20% down. Are you getting a loan?

Answer

Where I live that's enough for maybe a trailer or mobile home.  But our house payment is almost $1300 a month which is a good deal here.  I'm a SAHM and my husband makes about $6k a month. You can definitely get an apartment with that or a mobile home probably.  I'd get a realtor/broker to help y'all with finding something.

Answer

I suggest working out your budget to see if you have that plus an emergency amount every month. You either need to put that in savings or have it free to spend on anything that might come up with the house.

Answer

We based all of our bills and stuff off what we would make on unemployment. We don't really have to worry about our bills killing us, especially if my fiancé was to get laid off.

Home buying nerves?

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