First off, here is my financial situation, I work a good job where I expect to be making 75k in about 6 months with a raise. In 3 years and 6 months, I expect to be making 85k-90k. It's very steady and I don't see any reason I would not get these step increases (federal job). I have about 28k in student loan debt that was refinanced to a 6 percent citizens bank loan with a longer term, I plan to pay this off as soon as I can. I have about 4k in credit card debt with a zero percent Apr for now but no savings. I currently live with my parents paying no rent but helping with other expenses.
My parents have finally decided to sell their house with ridiculously high taxes but stated they needed some help financially. I agreed to pay off their15k car payments and 850 in taxes for them every month until the sale. In return, they agreed to pay me back for the car and the taxes by giving me 30k as soon as they sell their house. Essentially, I'm being forced to save for a house by helping my folks out until they sell the house, no big deal, jersey property tax is a motherfucker. I have a 401k maxed out, a government pension and I will get a va loan because I'm a veteran, (no pmi insursnce). I will live in philadelphia where the taxes r cheap. I also plan on opening up a Roth IRA very soon with smaller contributions.
Tl:Dr
Can I afford a 200k house with 30 k down payment, va loan, debts of about 1200 a month but no emergency fund? I plan on building it as soon as I am in the house but feel like if I don't buy now with the down payment they are giving me, I never will
Submitted May 28, 2017 at 08:00PM by beefsupremex64 http://ift.tt/2qtif2V
