2007-02-13 06:27:55 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Well, if you don't currently own a house with equity that you're selling, you have to be in a certain income bracket with pretty good credit. It's even more helpful if you have a spouse or partner who works and you're buying the house with them (two incomes better than one.) You get a mortgage loan.
2007-02-13 06:30:52 · answer #1 · answered by §Sally§ 5 · 0⤊ 0⤋
you need anywhere between 10-20% down and a good paying job to cover the mortgage, it's actually not that expensive if you put 20% down ($100,000) because your mortgage payment will be $2300 per month. its really not that bad because most of it is interest on your loan which is 100% tax deductible. in your first year of a loan your mortgage payment is 98% interest which is all tax deductible, so really you pay very little on the loan, until the years go by and you pay less interest and more of principle back, but the payment will remain the same. get it?
2007-02-13 15:05:36 · answer #2 · answered by nadine 2 · 0⤊ 0⤋
Work hard and save over time. Buy a smaller house to start with, build equity, sell and buy another higher priced home, until you reach this plateau.
2007-02-13 14:34:09 · answer #3 · answered by walkinandrockin 3 · 1⤊ 0⤋
Tell me if you find an easy way. But my plan is to save about 10% and finance the rest.
2007-02-13 14:31:04 · answer #4 · answered by sarcastro1976 5 · 0⤊ 0⤋
if ur asking about affording it...u put a down payment and u finance with a mortgage company that you pay monthly
2007-02-13 17:24:33 · answer #5 · answered by Cool Person 3 · 0⤊ 0⤋
Ummmm.......if you're selling it for that much, it has to be worth that much. If you're buying, you have the cash, or get a loan.
2007-02-13 14:30:40 · answer #6 · answered by aj1964 3 · 0⤊ 1⤋
Work and save, buddy.
2007-02-13 17:10:49 · answer #7 · answered by Cardinal Rule 3 · 0⤊ 0⤋
What is "so much". Back to grammar class with you!
2007-02-13 14:31:02 · answer #8 · answered by ? 3 · 0⤊ 0⤋
Not clear on what you're asking?
2007-02-13 14:30:00 · answer #9 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
Your question is not at all clear.
2007-02-13 15:06:39 · answer #10 · answered by Anonymous · 0⤊ 0⤋