We live in an apartment. And I live in Northern CA. My wife and I together make about 37500 a year. We have no debt, and we have 8000 available for down payment. We worked HARD to get out of debt. And it took us about 8 years. And lending companies are only willing to lend us $150k. Which won't get you jack **** around here.
I know people who are making MUCH LESS than we do and they're getting houses. And we're not. How can I cheat the system to get lent more? Because we can afford the rent that many claim to be paying for theirs. And if I save up for more down payment, house prices will just keep going up. And it will just be a cat and mouse string along game where we'll never keep up.
2021-02-11T09:35:56Z
So I just found out that the guy who was making much less than I do is actually RENTING his house. But he's an absolute dumbass and probably didn't know that lol
Coffee2020-12-03T23:53:41Z
Stop taking out loans you pay interest on them which digs you deeper into the rabbit hole.
No one can tell you how to cheat. What you should do is keep looking for a place you can actually afford. Your figures are VERY low--even if you weren't in California--which is the highest housing market in the US. I doubt very much you're seeing anyone who make much less than $37.5K a year who can afford houses, not there anyway. That's just LOW--for almost everywhere.
And your down payment is also low. I'm sorry you are frustrated, but you really just need more money to buy. And you don't know if housing will increase in price--or how long it will take to find some place. You should consider looking outside your current area, maybe trying to buy a house that is in need of fixing, or trying to buy something that is much smaller--if you think you really need to buy.
Why dont you ask the "people who are making MUCH LESS than we do and they're getting houses" because I only know the legal ways to get places. Well, that's not entirely true but the marginally legal stuff is to risky.
If you're both working full-time your income is 25% less than California minimum wage.
Not sure how you claim you are both working hard when you're both not even working full time.
The only way people who make less than you are buying houses is if they have more cash than you.
You can't cheat the system. You can try to convince a relative to finance the home for you with their own money so you don't have to meet commercial lending criteria.
If I were you, I'd make sure both of you were working at least full time and invest that $8000 in learning a skilled trade at a community college or vocational school - a smart one that will earn you a lot more than you are making.