Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?
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Notes -
What is your own personal risk/cost tolerance for housing these days - particularly for purchasing a home? Looking around, I see advice that ranges from "15 year mortgage at most and no more that 25% of your post-deduction take home income" all the way up to "up to 28% of your gross income on a 30 year mortgage". That much of a spread seems crazy to me, and I'd like to hear some personal opinions. If you can explain how you reached that conclusion, that would be even better.
A huge factor is what interest rate you get on your mortgage. If your interest rate is below the appreciation rate of your house, then in the long term, it's basically free money.
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