$400k with super low rates over 30 years is only about $15k a year.

he can easily make a $15k year payment if no longer paying rent

(http://www.autoadmit.com/thread.php?thread_id=4446500&forum_id=2#39602151)

But in 10 years he'll still owe $324k, so he'll have nothing to show for it ($350k and still in the hock for $324k). He's better off getting a $300k loan, paying an extra $500/month and being in much better shape in 10 years. The freedom from not being house poor is enormous.

(http://www.autoadmit.com/thread.php?thread_id=4446500&forum_id=2#39604107)

A smaller mortgage gives you the flexibility to pay more on your loan or save more for your rainy day fund. I'd go with a house you can conceivably pay off in 10 years, at which point you can rent it out or trade up for a larger home.

(http://www.autoadmit.com/thread.php?thread_id=4446500&forum_id=2#39604112)

Honestly OP is better off renting for a year or two and then jumping in when the market softens.

(http://www.autoadmit.com/thread.php?thread_id=4446500&forum_id=2#39602114)

Don’t overextend yourself, so conservative DTI and 20% down is a good thing, but also don’t put too much stock in your sense of whether things are over or under-priced.

(http://www.autoadmit.com/thread.php?thread_id=4446500&forum_id=2#39604282)

if not biglaw and it's a pretty secure job/salary u can prob go to 3x annual and go for a $500k mortgage and $600k place if ur a first time buyer u get a lot of waived costs for not putting down 20%. a lot of first time buyers put down 10%.

(http://www.autoadmit.com/thread.php?thread_id=4446500&forum_id=2#39602141)

gov't gigs work

(http://www.autoadmit.com/thread.php?thread_id=4446500&forum_id=2#39602277)

this place used to be prestigious

(http://www.autoadmit.com/thread.php?thread_id=4446500&forum_id=2#39604389)