New mortgage lending regulations Options

[Spectatrix]

The Fed is going to be proposing some new regulations on mortgage lenders sometime today. I think this is a positive step forward, though I'd also like to see some initiatives for better consumer education (free workshops available for first time home buyers, that sort of thing).

http://money.cnn.com/2007/12/17/real_estat...dex.htm?cnn=yes

[Spectatrix]

A liability? My boyfriend and I both make good money (he makes a little more, but not by much). He already has a lot saved up for a house since he's been in the job market 2 years longer than me, but I'll have plenty in savings by then as well (my expenses are less than half of my net income). I wouldn't agree to a house that we couldn't easily afford on a single income, especially considering that one or both of us will be going back to school sometime in the next few years.

As for rate, I wouldn't mind sharing, but it'll be at least a year and a half from now. We're going to be renting a place together for a year or two, then if we get married I'm sure we'll buy a place.

But large downpayment + good incomes + good credit + buying far less house than we could potentially afford = good rate. Or so I'd think?

This post has been edited by Spectatrix: Dec 20 2007, 11:29 AM