PlayDaily asked:


If I make about $3k-$3.5k a month, and am interested in purchasing a house of about $300k, would I be able to afford the monthly payments if I put down a down payment of $150k-$180k?
If this is not possible, about how much would I need to make in order to make this happen?

Caffeinated Content

zonkietheterrible asked:


I don’t make much and i live in Miami,Fl where houses are ridiculously overpriced! I found pre-construction downtown from the 160’s to 250’s. i would love to own but is this unrealistic and dangerous? i have excellent credit.
Well I have always lived in Miami, and am currently living with my family. So I don’t pay rent, and my monthly expenses are basically my car and cell phone. and about $1000 in Credit card debt. Thats about it.
how does pre-construction work though? do you immediately start paying a mortgage or is it just the construction and contract deposit at first to reserve?
$140,000 doesn’t exist in miami unless you live in a hole. thats the problem.

Website content

tweety_lover_757 asked:


My friend and her husband cant afford the house payment no more and cant refinance 2 get a lower payment due to they owe various credit cards. They cant sell it either because the value of the house has decreased by 20,000.00 theyre are thinking about walking away is there any hope for them? what can they do?

Caffeinated Content

Beautiful asked:


For example if a couple’s gross is $1.00 should they purchase a house for .40 cents is this affordable..
someone is say 25% of your income, another said 33% and then i heard 44%
no outstand debt.

What would you consider manageable

Caffeinated Content - Members-Only Content for WordPress

The Goddess asked:


I make approximately $55,000 annually, my credit card debt is about $300/month because I pay more than the minimum, and I’m financing my vehicle with about three years left on the loan. Would I be able to afford a house that is selling for $360,000?

Caffeinated Content for WordPress

energystats asked:


I have more than enough money to afford to pay for a house in full. However, I think I can get better returns on my money than the cost of a mortgage. What is the most aggressive mortgage I can get, knowing that I can always pay it down in the event that I need to?

Caffeinated Content

cjp2405 asked:


I’m thinking of selling my house and renting for a while. I won’t make much from it, since I’ve only lived here for 2 years. I’m hoping to make about 5-10,000. Would it be better to buy a condo or townhouse untill I’m back on my feet? I’m concerned that if I rent I will never have a down payment to buy again. Can you only have an FHA loan once in your life?
What should I do?

Caffeinated Content for WordPress

Rizwan M asked:


can you work 40+ hours, and afford a house while your in grad school? is it hard taking online courses?

Caffeinated Content - Members-Only Content for WordPress

PrettyWifey asked:


My friendand her husband bought a house last year and the monthly payment was high but they were told to refinance it to a lower payment in a year when they built equity.

Well, they never built equity and their savings is gone because they used money from savings every month to make their house payment even though they are both working.

So next month and every month after they will be short $600/month on their house payment. They cut back on their spending, but they still can’t make the high payments.

What options do they have?

Sell it? Rent it out? Can they refinance for a 40 year loan?

Any ideas? If they sell it then they will take a loss since the market slowed down in their city.

Caffeinated Content for WordPress

Natalie Mack asked:


With mortgage payments, utilities and all the other regular expenses on top of that, how much do you have to make in order to pay all those bills? Just a ballpark figure …

Maybe a $150,000 house?

Caffeinated Content