A house costs $110,000. Thank you.
2007-02-20 14:26:22 · 5 answers · asked by Просто Я 3 in Business & Finance ➔ Renting & Real Estate
Hard to say. Is this a fixed rate loan or 1-3 year adjustable? Does this include taxes and insurance? Is it $700 because you made a substantial downpayment? What's the square footage? Is the price comparable to others in the neighborhood? Is this a condo, townhouse or detached home? Is this a modular? Are their homeowner association dues? Is this house 10 years old or 30?
2007-02-20 14:33:11 · answer #1 · answered by Venita Peyton 6 · 0⤊ 0⤋
It's about right, but that doesn't mean it's good. For this kind of payment, you should have a monthly take-home income of $2500 or more. You should also, at this point, only take a mortgage with a fixed interest rate. Interest rates can only go up from here, as they are near a 40 year low. Adjustable rate mortgages are a bad deal right now.
Enjoy your new home!!
2007-02-20 22:56:09 · answer #2 · answered by J.R. 6 · 0⤊ 0⤋
Yep! Sounds right to me. The house we live in is about the $115000, and we pay $800
2007-02-20 22:34:07 · answer #3 · answered by starsnmoons0101 3 · 0⤊ 0⤋
That's about right.
2007-02-20 22:29:54 · answer #4 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
on a 110.000 $ home ..u will pay back..252.000$..that`s a high interest rate
2007-02-20 22:36:22 · answer #5 · answered by heather h 5 · 0⤊ 0⤋