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22
Philistine
@
2011 Jan 25, 10:06pm
don’t forget how the great weather makes up for it all
...or our world-class taco trucks, plethora of hot plastic surgery babes, legalized potheads, diverse cultures and classes Getting Along . . . really, the reasons are endless why California RAWKS!
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there is no job security in US. Even if you feel confortable at your present job, you have to always to prepare for the worst- if you loose your
job.
we have the present economic situation. Is not great. Everything you read or hear you have to take with a grain of salt.
therefore, if anyone is contemplating buying a home in this year, only if you have enough downpayment, so that your loan monthly
payment is payable with one income (if you lucky to have dual income), and don't even think about following the lenders' guidelines of front/back end ratios.
To be safe, if you loose your job, make sure you have saved money to pay your monthly mortage for at least one year.
So the lower your mortgage payment, the safer you are.
Example of what I mean, in a good location (willow glen, campbell, fremont) I think 300K loan would be pretty safe ,
easy to make payments, and still have money left. That means, have a 300-400K as downpayment.
#housing