http://www.mint.com/blog/the-motley-fool/debt-management-how-much-home-can-you-afford/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Thu, 18 Mar 2010 22:21:10 -0700 http://wordpress.org/?v=2.8.6 hourly 1 http://www.mint.com/blog/the-motley-fool/debt-management-how-much-home-can-you-afford/comment-page-1/#comment-28811 apadyborapola Thu, 05 Feb 2009 20:46:07 +0000 http://blog.mint.com/blog/the-motley-fool/how-much-home-can-you-afford/#comment-28811 Hi. Your site displays incorrectly in Firefox, but content excellent! Thanks for your wise words:) Hi. Your site displays incorrectly in Firefox, but content excellent! Thanks for your wise words:)

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]]> http://www.mint.com/blog/the-motley-fool/debt-management-how-much-home-can-you-afford/comment-page-1/#comment-25178 Brad Wed, 30 Jul 2008 13:27:35 +0000 http://blog.mint.com/blog/the-motley-fool/how-much-home-can-you-afford/#comment-25178 It isn't about how much home you can afford. Too often mortgage companies refuse to lend for less expensive homes. When the down payment is the same or less on a $100k appraising at $125k as it is for a $50k foreclosed on property that appraises for $150 in the same neighborhood there is something very wrong. This however is the norm. People who want to buy rather than rent can often find properties that on a 15 year mortgage would be less than they pay for rent, but lenders refuse to lend not because of the borrower, but because they are greedy. This was the real problem behind the sub prime crisis. People wanted buy and banks said this is how much we will lend you and this is what we lend it to you for, damned be the consequences. It isn’t about how much home you can afford. Too often mortgage companies refuse to lend for less expensive homes. When the down payment is the same or less on a $100k appraising at $125k as it is for a $50k foreclosed on property that appraises for $150 in the same neighborhood there is something very wrong. This however is the norm. People who want to buy rather than rent can often find properties that on a 15 year mortgage would be less than they pay for rent, but lenders refuse to lend not because of the borrower, but because they are greedy. This was the real problem behind the sub prime crisis. People wanted buy and banks said this is how much we will lend you and this is what we lend it to you for, damned be the consequences.

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