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Joined 4 months ago
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Cake day: February 12th, 2024

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  • It’s a shame that FHAs are gatekept with PMI, even for those with great credit. I’m on a VA Loan which is probably responsible for the vast majority of mortgages in my age group ('96). With good credit on FHA you only need 3.5% down minimum but will need to carry PMI either way which has been historically expensive and has never gotten cheaper. Tack on the considerable rise in both interest rates and prices at the same time the past year or so, it all looks pretty bleak. I am just so fortunate we locked in at 2.35% in an area which hasn’t ever seen decline in home values other than a blip in '08, but it took military service to even qualify for. This doesn’t even bring up my degree being free.

    It’s just wild how large the gap is growing, my younger brother ('02) works as a mechanic and as a manager at a furniture store, his girlfriend is a team lead at the furniture store, they really can’t afford to just rent on their own and this is rural Delmarva. Houses that were built new not even 10 years ago for $120k are now $280k+. My thing is full-time workers shouldn’t have to worry about the bare necessities but even mid-level jobs only paying $18/hr is just gross. I’m the only college grad in my family and work in big tech now and it’s just silly how much of a game upward mobility, heck, just stability, is getting.