As of today, mortgage interest rates have dropped below 5%! And many homes qualify for downpayments as low as 3.5%. So, how much home could you realistically afford? I put together the following example home prices and the corresponding payments at 5%with FHA financing at 3.5% down.
Home Price Payment
70K= $364/mo
80K= $416/mo
90K= $468/mo
100K= $520/mo
120K= $624/mo
130k= $676/mo
150k= $781/mo
170K= $885/mo
190k= $989/mo
200k= $1041/mo
220k= $1145/mo
240k= $1249/mo
260k= $1353/mo
280k= $1458/mo
300k= $1562/mo
Feel free to give me a call for a list of homes that meet your criteria and fall within your price range. I can email all the possibilities, including addresses and pictures.
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