- Joined
- Apr 15, 2013
- Messages
- 1,299
- Reaction score
- 22
- Location
- Beeville
- First Name
- Bryan
- Last Name
- Hughes
Depends on the rent!
I don't know about Elgin, but we bought because the monthly payments on the mortgage are lower than the rent on a comparable place. When I did the math, as long as we stayed for 5 years, it would be a better deal to buy.
But, that all depends on your loan, the local market, and your plans.
Just my $.02.
As a vet, VA rates are around 4% and my rates Veterans Land Board are 3.28 this week. Right now I'm paying 925 for a 1bd 1bath less than 600 sq ft off Howard and 35. For that I can buy a home in the 125 to 130. Right now it really is cheaper to buy. I looked to just move to a 2-2, but those are running 15-1700 a month! I could be in the 170s for that.