2007-01-24 12:45:01 · 6 answers · asked by David S 1 in Business & Finance ➔ Renting & Real Estate
Why not go with a 300,000 30 year fixed rate at 6 percent = 1798.65 and you are paying on your principle. If not you could do a interest only, and that would lower your payment to 1500.00
That is not including taxes and home owners insurance
2007-01-24 15:29:15 · answer #1 · answered by W. E 5 · 0⤊ 0⤋
YES: Most times, low mortgage payments are negative amortization notes. This means each month you will owe more and more money.
Don't borrow more money that you can afford to pay back.
2007-01-24 12:57:23 · answer #2 · answered by whatevit 5 · 0⤊ 0⤋
To get a low interest rate of 6% , you need pretty good credit.
2007-01-25 17:53:41 · answer #3 · answered by netwayflorida 1 · 0⤊ 0⤋
yes with a very good down payment and interest rate.
2007-01-25 10:43:57 · answer #4 · answered by Bobbie 4 · 0⤊ 0⤋
Only if you have a HUGE down payment.
2007-01-24 12:48:55 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Even if it were, you shouldn't do it as you clearly can't afford this home, so you shouldn't buy it.
2007-01-24 12:51:23 · answer #6 · answered by Phoenix, Wise Guru 7 · 0⤊ 1⤋