6 signs you probably can't afford to stop renting
- You're not ready to buy a house if you don't have a specific savings fund for a down payment - your emergency fund won't cut it.
- It may also be a good decision to keep renting if your debt payments exceed 43% of your gross income, your credit score is below 620, or there's a possibility you will relocate for a job.
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Here are six signs you should keep renting for now:
1. You don't have a separate down payment fund
2. Your monthly housing costs exceed 30% of your gross incomeAdvertisement
3. You can't afford to buy furniture
4. Your credit score is below 620Advertisement
5. Your debt-to-income ratio is above 43%
6. You may relocate for work in the near futureAdvertisement
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