2007-11-16 13:35:15 · 4 answers · asked by Rae 1 in Business & Finance ➔ Renting & Real Estate
It would probably require a 20% to 30% down payment depending on the purchace price.
2007-11-16 13:51:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Probably not, unless Aunt Maude passes away and leaves you sufficient money in her will to place a substantial downpayment on such a property. Chicago real estate is not outrageously expensive, but that level of income won't buy you much other than a run down rat trap in a very poor area of the city.
2007-11-16 14:37:12 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
This would depend on a few things, substantial downpayment would lower the mortgage. Do you have someone living with you with an income or are you thinking of doing this solo? What are are you looking to buy. I have found properties in Jeffrey Manor for 92,000 and these are 3bdrm fixers. Another major factor is repairs and updates, do you have the savings to handle any unforseen repairs? What are your other expenses car payment, credit card, student loans etc
2007-11-17 10:48:37 · answer #3 · answered by babegirl 2 · 0⤊ 0⤋
Not unless the house costs around $140,000 and you have no debt.
2007-11-16 20:13:46 · answer #4 · answered by Kristoffer 1 · 0⤊ 0⤋