Duh'Wayne Pinocchio wrote:
>
> > "Nancy Young" wrote:
>
> >>The guideline I went by was don't get a mortgage more than 1 1/2 times
> >>your annual income. �2 times was stretching it. �Whatever, at least you
> >>knew not to go house shopping in the expensive part of town thinking
> >>you could get it for no money down. �
>
> > It seems no institution has used those guidelines in years. �Back in
> > the day, there was no way we would have qualified for the loans people
> > are given now.
>
> That's for sure. �When we were planning on buying our present home nearly
> two years ago, we were told by the lender that we qualified for more than
> double the amount that we felt we could reasonably afford. �We went with
> the amount we felt comfortable with, and insisted on a 30 fixed rate
> mortgage. �

What a friggin' LIAR! At your age no lender is going to give a 30
year loan.