2007-01-26 02:36:22 · 5 answers · asked by jwood 1 in Business & Finance ➔ Renting & Real Estate
Saw Scott K's answer but did want to add something. When you say "under $700/month" is that the total you can afford to pay?
Depending on your state, remember to think about the property taxes, homeowner's insurance, etc that come with owning a house. If you have those type of bills placed in escrow, but still only want to pay $700/month, that lowers the price of the house that you can afford beacuse the $700 has to cover not only principal and interest, but also the escrow payment.
If you can budget well, and can afford to pay those types of bills each year "out of pocket", then the full $700/month can go toward principle and interest" and therefore you can afford a pricier house.
2007-01-26 02:50:39 · answer #1 · answered by king_arthur_68 2 · 2⤊ 0⤋
Yes today it is easier then ever to buy a home with 0 down, looking at a payment of 700 a month or below you should focus on homes 90k and under, this of course depends on your credit but with at least a 620 score this would be a very easy accomplishment. Good luck to you.
2007-01-26 10:41:18 · answer #2 · answered by Scott K 2 · 0⤊ 0⤋
Yes it's possible, depending on the area of the country you live in. You definitely want to look under $100k and you should also try to get your seller to pay your closing costs, that way you won't have to pay those on top of your down payment.
2007-01-26 11:54:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Here in Honduras 5k would buy you a very nice home in some areas.
2007-01-26 10:45:04 · answer #4 · answered by Anonymous · 1⤊ 0⤋
No prob dude, i put 5% down approx 4500.00$ , and my payments are 150.00$ a week , (PAY WEEKLY , TAKES OFF YEARS AND SAVES YOU BIG TIME CASH IN THE LONG RUN) good luck man...
2007-01-26 10:47:39 · answer #5 · answered by COSMO 4 · 0⤊ 1⤋