Very Special Thread Of Real Estate Randomness

[betenoire]

Originally Posted by JustJo

And amen to what Gayla said up there ^ about pre-approvals. My experience has been that banks have consistently approved me for amounts that I know I couldn't afford. Maybe I'm paranoid, but I've never gone anywhere near what they said I could spend...and it's saved my butt financially a couple of times. I know a lot of people who are mortgaged to the hilt...if someone gets sick or loses a job or anything, they're in trouble. That just feels too scary to me.

Yeah, I hear that. There is no freaking way I'd be willing to spend as much as the bank will tell me I can afford - the bank is clearly an idiot. I'm hoping to keep my mortgage+taxes+utilities around what I'm paying now as a renter.