[onewhippedpuppy]

My wife and I are trying to decide if we can afford to purchase a house, because renting, quite frankly, sucks, and I'm tired of throwing out $710 a month. Yes California people, that sounds like a bargain, but when you can pick up a decent quality brand new house for $120k, it doesn't make sense. Anyway, the scenerio is my wife is an accountant, works full time, same company four years. I am a full time student, so I don't work. Great credit, previously owned a house and never missed a payment, same with our one car payment.

Basically we want to find a loan option that will allow us to make a low monthly payment, without totally losing our ass in the deal. Realistically, I'll be out of school in 2-3 years, so within five we'll probably be selling to get something nicer. I'd be happy with something we could just break even with, or even to lose a little, it's still better than renting a townhouse. The houses we are looking at all have unfinished basements, so I see that as one option for building a little equity, and our real estate market is pretty strong in Wichita.

Any ideas?