Thats not the part i meant was crazy. I was asking if there was anyway around it. With commisions and such we make a decent living. No we dont want to sell in a year, rent to my kids probably. We love this area.... more
Here's something else to think about: You cannot directly compare the cost of rent to the cost of owning a home on a mortgage payment alone.
Most mortgage calculators ignore insurance and taxes which will be added on. They also can't tell you about maintenance and repair costs. No one can really predict what those will be over the time you own a home. As a renter, you're excluded from all of those costs - except hopefully insurance. Your landlord is paying all of those things. While it seems you're paying more than a homeowner, that's not necessarily true.
If you have all that money saved, why aren't you paying down debts? That will set you up to be better able to afford a house in a couple of years. It might not hurt to have a real lender look at your financial situation including debt, income and overall credit history to suggest ways to further strengthen your position.... more