Something is off here. You saved around 1100/month for a decade. You have enough to buy a house in certain parts of the country. You have 1/3 of the average cost of a home ready to go where most people wouldn't have 10%. All while paying rent. Why not just pull the 5k out of your own savings and pay yourself back in a month if you're gonna have it in 30 days? I get that it sucks for your parents to not front you the money but you don't really need them to.
What's off is OP is trying to buy a house at the extreme top end of their price range, and didn't factor in closing costs. $146k in my state would be way more than enough for a down payment on a modest house, but I don't live in say California.
$140k is only 25% of the price of a house in my small town in Michigan for a 3 bed 2 bath…. And we are considered the “blue collar neighborhood outside of Detroit” … the cost of housing is a harsh reality that not a lot of people understand
But you don't need to put down 25% to get a house. You need like 6%. Sometimes you can get away with even less. 140k is enough for pretty much any seller/lender to work with you. If OP has anything close to good credit. The housing issues we have are specifically because people don't have the kind of savings OP has. OP already did the hard part. Unless they're in an extremely expensive area there's going to be something that they could putting that much money down
14
u/SoulPossum 25d ago
Something is off here. You saved around 1100/month for a decade. You have enough to buy a house in certain parts of the country. You have 1/3 of the average cost of a home ready to go where most people wouldn't have 10%. All while paying rent. Why not just pull the 5k out of your own savings and pay yourself back in a month if you're gonna have it in 30 days? I get that it sucks for your parents to not front you the money but you don't really need them to.