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Seriously, look into a one-bedroom apartment for a year. Your kid won't need his own room for awhile.

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Isn't this just throwing money out of the window?

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Here's a table that shows how much of your 'payment' goes into your house, and how much goes to interest. So, over the course of the first year, you're not really saving too much. I just made the decision to keep renting for now, and this was a big reason why. I just don't have enough to put down right now.

M |Pay | To pay | equity |inters | tot. int.

1 $900 $142,371 $128 $771 $771

2 $900 $142,241 $129 $771 $1,543

3 $900 $142,111 $130 $770 $2,313

4 $900 $141,980 $130 $769 $3,083

5 $900 $141,848 $131 $769 $3,852

6 $900 $141,716 $132 $768 $4,620

7 $900 $141,583 $133 $767 $5,388

8 $900 $141,449 $133 $766 $6,155

9 $900 $141,315 $134 $766 $6,921

10 $900 $141,179 $135 $765 $7,686

11 $900 $141,043 $135 $764 $8,451

12 $900 $140,907 $136 $763 $9,215




This table sucks, but hopefully you can get the picture (and I don't really know you'd be able to afford a $150,000 house).