I would like to purchase a new house and here is my situation, please give some good advice. My house is worth of 310k and currently have 200k mortgage on it, also we have about 1k for car payment monthly and our take home pay is about 10k. So there are three options. First option, rent out the house and get about 200-300 dollar in return monthly, pay 5% Downpayment for new house and 150 for mortgage insurance. Also, we will be using our emergency fund for downpayment. Second option, sell our exiting home and put the 20% downpayment of new house. Third, wait out a little bit and don’t buy now. Thank you for advance!
Submitted November 20, 2018 at 01:14AM by Kevin7613 https://ift.tt/2QY9f2U
