Hey guys! I could use some guidance regarding renting or purchasing. First, a little background. Currently I earn about $40k per year, and rent a one-bedroom apartment for $750 per month. I'm engaged, and we are set to get married in the Spring of 2020, so a little over a year from now. My current lease expires in March of next year, and I'm starting to explore options for what I want to get next, since it's likely that my fiancee and I will be married when I am on whatever I have next (whether I'm locked in a 1-year lease or have purchased a home). We of course would like more space than a 1-bedroom apartment, but we're not that picky. I have largely followed Dave Ramsey's financial peace for my budgeting, and I have no credit card. I have never taken out a loan, only paid for things in cash. I have documentation of all my payments, such as rental payments and insurance. I am not quite sure where to look as far as financing goes that will allow payment history as opposed to credit. I've run credit tests and certain non-FICO credit scores say my credit is fantastic since I have not ever loaned anything, but FICO of course just says "N/A". If it's possible at all, a house seems more beneficial to me in that it provides more space, and isn't just throwing away money on rent. What do you guys think and what are your suggestions for what I can do? I definitely intend to stick to at least a 10% down-payment if I do purchase a house , and could afford $1,000 mortgage per month. I wouldn't get a house more than $150k or so. I would greatly appreciate some thought!
Thank you!
Submitted October 17, 2018 at 08:25AM by Rea144 https://ift.tt/2AeNKoD
