Home owners question?

2yrs to save the deposit I put down 40% and help to buy by getting the rest with a mortgage....property was as expensive if not more so than it is now when I first purchased with very high interest rates in double figures as wages were lower and mortgage companies were offering mortgages at x5 a persons salary.now with low interest rates and x3 your income it is much cheaper

If you want a home then stop spending especially on a new car. That payment will count against you the home loan app. Next stop all luxuries and save the money, that fancy cell phone you have can be traded in on a trac phone for emergencies. No smoking no eating out and on and on and on as ways to save money. In addition if you do not have TWO jobs get another one to put entirely into savings not to be touched EVEN for your perceived emergency!

Bought my own starter home at 19 years of age and paid cash for it. That was many decades ago but the same opportunities are there today if you want to own a home bad enough.

PS with payments where your taxes and insurance are escrowed you may indeed see monthly increases in your payment. There are ways to avoid this talk to an agent or your bank.

I bought a home when I was 19. I did it myself without help. I saved and bought it.

Two years.

If you hold down the same job for two years, and save 15-20% of your Income towards a deposit, so long as your Credit Score is good, most Mortgage lenders will give you a 30-year mortgage for three times your annual income...

It's a grand deal.

Remember; once you HAVE a mortgage, your monthly payments will remain essentially fixed for the next 30 years, whereas rent typically goes up every year....within seven to ten years, your mortgage payments will be LESS than it would cost to rent the same house!