Posted by anonymous
To get a loan with our interest rates at the moment, even with a 10% downpayment, the repayments for 25 years would be 3 times what we are paying for rent. We would be paying $36,000 a year on our mortgage. That is my husbands WHOLE income, so if he were to lose his job, we couldn't afford to pay the mortgage anymore. I'd rather rent and save that money for a kick arse overseas holiday!