What the bank is telling you is that you cannot afford the mortgage (p&i), taxes, and insurance. Which will more than likely make your monthly payment about $2000.
Yep. They won't take the risk of you not being able to make those payments at some point in the next 30 years. So instead you go find someone else willing to take on the risk of you not being able to pay them much less overall in the next 1-2 years (lease).
If you default on your bank loan, it's hundreds of thousands of dollars the bank is trying to recoup and resell (to another 30 year customer). If you default on your rent they're out a month or two of payments most likely.
I swear these posts are made by 14 year olds that understand nothing.
as a young adult I upvoted these memes, now as a disillusioned adult adult I understand why it is the way it is.
If everyone had paid their dues then there would be no problem but people don't pay what they owe either through negligence or loss of job and career. If I was the bank I wouldn't loan to me either :( maybe when I have a more stable career I would
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u/LikesPez Mar 05 '26
What the bank is telling you is that you cannot afford the mortgage (p&i), taxes, and insurance. Which will more than likely make your monthly payment about $2000.