Yeah we thought that too. Our mortgage was only like $100 more... but our taxes are $4600/yr. Escrowed=$380 a month.
Also, we stretched a LOT of get this house so it took us 2 years just to buy a couch. We are still paying off debt and still have no furniture in our bedroom.
I would only consider it if you've paid off all other debt, drive cheap cars, don't go out to eat, etc. Also, buy the least expensive house you can. Lenders will sometimes offer you more than you can really afford. They know you will pay the mortgage before you pay your other bills! |