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Buying A Home Is Great, But Can You Really Afford To?

Video credit: Wochit News
Published on August 25, 2019 - Duration: 00:43s

Buying A Home Is Great, But Can You Really Afford To?

Rents are skyrocketing across America right now, but that doesn't mean everyone should rush into home ownership.

According to Business Insider, if you have to dip into your emergency fund to make a downpayment, you're not ready.

If buying a house means you're spending more than 30% of your take-home pay, you're not ready, either.

Likewise, if your credit score is below 620, or your debt-to-income ratio is above 43%.

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Buying A Home Is Great, But Can You Really Afford To?

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