But man if I had, would I have kept it as is, converted into kick-ass SFH or sold to become condos, as is the most likely scenario. It's ridiculous to speculate about what could have happened without a Delorean but let's play along.
This site says the Mortgage Interest Rate was around 8.5%. Sites like CribChatter were not a thing back then and I was not a savvy buyer and didn't know anything about real estate.
According to the CCRD, this property sold in October 1996 for $315,000. That means 20% down payment of $63K plus closing costs was very much out of reach for me on a $30K year paralegal salary. But let's say they would give you a loan back then for 5% and there was some boutique lending program that let you roll up the closing costs or otherwise figured out how to help first-time buyers out.
HUD lowered down-payments from 20% to 3%, in 1995 and then to 0%. The Clinton Administration ordered Fannie and Freddie to expand their quotas of risky loans from 30 percent of portfolio to 50 percent.
The question then becomes could I have come up with $15-20K to buy this house. Again, most surely NOT. And if had, my life would not be the life I live today, which means no Nightingale, Natasha or Boris. I think I'm in the better timeline.
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