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Tuned_Out t1_iww6rq2 wrote

Reply to comment by Amelia_Blake_ in Home sales fell for the ninth straight month in October, as higher mortgage rates scared off potential buyers by ChocolateTsar

I'm in a similar position. We're very lucky we can save another year or two. The best (but hardest for most) way to combat a high interest rate is with a higher initial down payment.

General advice if anyone here is in a position to take it:

Now is not the time to be grabbing zero or low down payment loans. Be warned, the interest will enslave you and the PMI is something most first time buyers don't consider until they're deep into the process.

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proteannomore t1_iwwppal wrote

I'm willing to eat the interest rate but not without at least 20% down. Rates will fall eventually and I can refinance.

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