Jeanne wrote:
It's not necessary to own a house once you get married. I would rent
first until you 1) get a better FICO score; 2) save a large amount of
money for the down payment. Also, never buy at what the banks say you
can "afford" (never mind going over that amount by $50,000) - it's a
fictitious amount that the bank WANTS you to borrow.



I will never forget what my mother said to me about 40 years ago about being
"house poor". She used it in reference to those who bought more house than they
could really afford. They ended up with a house but very little else. No
eating out, no movies, no entertainment at all really. Old cars, no vacations,
the list went on and on of their deprivations. But they had a house!

The point being that life is both short and unsure. You'd do better to buy or
rent what you can afford to keep while still allowing yourself the occasional
treat. The beginning of a marriage has enough stressors without being adding
being house poor to the list. You guys should be enjoying yourself a bit...
(but moderation in all things!).

Build up a down payment and correct your credit. Other deals will come to your
attention from time to time. They always do.



--
Mortimer Schnerd, RN
mschnerdatcarolina.rr.com