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arpatel530 t1_j2dc47q wrote

Reply to comment by killaho69 in Wanting to make sure I can afford the houses that I'm looking at. by killaho69

Well then buy the house and refinance later. Silly to rent when you paying someone else's mortgage.

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FinsterFolly t1_j2e6vjn wrote

Not necessarily silly for the short run. With a purchase, he's going to be paying $3,600/yr more a month plus any upkeep on the house. His mortgage payment will only be contributing about $2,500/yr to principal.

A year renting might be a good short term solution to ensure job security and the area they want to live in. Plus, it gets them out of the house quicker.

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