I just got back from the bank. I wanted to meet with the mortgage specialist to see how much of a mortgage I would qualify for. It all started with me thinking about what I am going to do with Zeke (my car) when his lease is up in May. Since I would like to buy a house in about a year or so, I wanted to find out how much of a mortgage I would qualify for with 2 different scenarios: buying Zeke in may or getting a new car. Well, as I imagined, I qualify for a higher morgage if I buy Zeke and have him completely paid for when I buy a house. So, that makes my decision a whole lot easier. I will buy Zeke in May and have him completely paid off (I'm hoping it will only take me a year to pay him off), then I will buy a house. Exciting stuff! Of course it would be a lot easier if I were married and had two incomes to go towards a mortgage, but I think I should be able to get something quite nice on my own.
The plan is to buy a starter home that is either a duplex or can be made into one (because my Dad is a carpenter, he can do that for me). Then, I can rent out half my house, and have the rental income pay the mortgage! That's my plan anyways!
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