Vacation home, hard to get a loan for one?

[piyf]

I moved so I won't be getting that vacation home. But it wouldve been in Ruidoso, NM. So no HOA, property taxes wouldve been 500/yr, utilities under 100/month. Maybe I'll retire there one day. If not there then in the mountains of Colorado.

[TimtheGuy]

Originally Posted by danieloneil01

Yes I know what I put and I didn't put dreams. I didn't ask for your financial advice. And I am not living beyond my means. I spent my cash money on dumb things. I had that debt on credit cards for a few years only paying the min. payment. Everything else I pay cash for and alot of that cash went into my car, house and etc. I'm not broke to say the least. And plan on paying off my credit card debt in a years time. Grossing 7,700/month and having a mortgage of 960/month is way below the norm. I honestly doubt most people are that low.


So can you answer the original question?

Dan dan dan....so this is what you post to a first time homebuyer asking advice on qualifying with $2k in credit card debt:

I would never just pay the min. atleast pay double

If you can't afford to pay double the min payment on a 2k debt among 2 cards then you shouldn't be buying a home. That shouldn't be more than 100 bucks a month.

You're right it's not my deal or yours. I'm just saying paying the minimum is dumb no matter what she's trying to do. She's looking for a 160k home so she can afford it and still save up such a small down payment the FHA requires.

And if cash is king isn't saving in money on interest cash in her pocket?

hmmm