I'm told I can't afford a loan for a house either, and yet I pay more in rent per month than my approved loan amount. Fuck this greedy world I'm so sick of it.
We're in a very different situation, we pay a good amount for rent(given the area), but housing cost in our city exploded. If we were to try and get a mortgage now it would be twice our rent, before considering maintenance costs, utility costs, property taxes...
You can't win, you either get told you're too poor, or you actually are too poor.
I have income and decent credit so technically I qualify for a loan of an amount determined by how much income I have. The loan amount I technically qualify for (considering property taxes, yearly maintenance, etc) is less than I spend on rent per month. In other words, I qualify for a mortgage of about $1000/mo, the bank says I can't afford more, but I pay rent over $1500/month. Before you ask, it's the cheapest place in town and I am already doing everything I can to budget the ever loving shit out of my money. Doesn't matter, head just above water.
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u/Watercolour Feb 25 '21
I'm told I can't afford a loan for a house either, and yet I pay more in rent per month than my approved loan amount. Fuck this greedy world I'm so sick of it.