Homeowners?

Question

Any home owners have a house and make minimum wage? My husband and i both make 18hr and live in ga…how did you guys buy a house? What programs, methods etc did you use?

Answer

When my husband and I had just turned 23, had an infant, and another on the way when  we bought our first home. At the time my husband only made $20 an hour. He's gotten quite a few raises since then. When we didn't have kids we lived below our means and saved like crazy. My husband also worked a lot of over time. We had enough for a 13% down payment, but we chose to take the grant from my husband's work instead. In hindsight we should have have used both, but we needed to renovate the house to make it livable for infants. Only using the grant made our payments higher than we'd like. You need to look into programs in your area to see if you qualify for anything. You also need to keep in mind without 20% down you'll need PMI. Your property taxes and insurance go up. Every. Single. Year. Ours has doubled 3 years in a row. You're also responsible for any and all things that break so it's good to have a minimum of a $3,000 emergency matinence fund for your house.

Answer

You’re going to need to look up programs specific to your area and state like the Georgia Dream Program.

Homeowners?

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