2026-10-27 17:37 UTC
My parents bought a house in the 90’s and after they bought it, they realized they couldn’t really afford the mortgage.
As a comparison, my wife and I tried buying a house 3 years ago. We had around $3,000 left in our budget after ALL our expenses was paid, and we got rejected in 3 banks before we got a loan.
Our rent was $1,500 / month. Our mortgage is $1,000 / month. We have more money after expenses living in our house compared to the place we lived before.
They make it really damn difficult to buy a house, even when you have the money.
Replies (1)
-
@Tja@programming.dev 2026-10-28 07:50
The mistake was talking to banks. We went to a mortgage broker. They get quotes from like 500 banks and tell you immediately the chances with each one. Sometimes banks reject you for random reasons, like their own exposure to the real estate market. Plus we got 0.3% lower interest rate than the best offer we got directly from a bank. And the broker handled all the paperwork and communication with the bank. Of course they got their commission, but if they save us money and effort, good for them, well deserved.