A college student posed this great question in Trulia:
“I’m a college student looking to move to Sac this winter. Should i rent or buy? Property around Sac State is expensive… I need some help on what i should do cause renting is more expensive then a mortgage would be”.
Here was my response:
I would buy if you can.
Why not email me these basic items and I will tell you how much of a loan you can qualify for and what your payment options are:
1. Gross, (before taxes) income year-to-date and for 2013;
2. Amount of cash you have for down payment & costs (including family gift $);
3. What is your minimum, monthly, required debt payment for all, unpaid card balances, car loans etc.;
4. Whether you have had any late charges, or collections.
I will email your results back along with a couple of outstanding, buyer-real estate agents contact info.
Same offer to anyone: you could send me the same info and I will provide you with the results listed above.