Not enough cash to rent an apartment? Buy a house instead!

[La Bibliotecaria Feroz]

I keep hearing these ads for a mortgage company on the radio. They point out that to rent an apartment, you need first and last month's rent and a security deposit--that could be like $4500! Who has that kind of money? BUT for just $1000 up front, you can buy a house AND skip your first month's mortgage payment!

Yikes.

[KMMK]

Wow. Has no one learned anything from the past housing crash? Who are these lenders? Just crazy.

[slugline]

Well, they're asking for $1000 more than a no-money-down mortgage requires. . . .