How to avoid becoming house poor

House-poor is when you can afford the mortgage payment, barely — but you can't afford anything else. This episode is about building the buffer that keeps that from happening: the right down payment size, the true cash reserves you should keep after closing (most lenders suggest 3–6 months of housing costs), and the debt load that makes the difference between comfortable and stretched.

Kathleen uses real Bergen County scenarios to show how buyers at different income levels can protect themselves: when to put 10% down vs. 20%, when PMI actually makes mathematical sense, and how to model the impact of a job disruption or large unexpected repair on a tight budget.

The goal isn't to talk you out of buying — it's to help you buy in a way that lets you actually enjoy the home you're investing in.