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Well that depends on many factors, credit history, how much you can put down on a down payment, and what type of condo/townhouse/home you are looking to buy and how many years you will finance (15 years? 30years?). Many times they want as much as 20% down. Obviously, the larger the down payment the smaller the mortgage payments. However, its really in your best interest to buy because you can write off the interest you pay on a house and cannot do that on the rent you are paying now. It will basically lower your taxable income. You should start by meeting with a Real Estate agent. They will explain everything to you and talk to you about your income, what price range you can afford to buy in and they will tell you how much you will have to put down for a down payment and how much your mortgage would be. Be sure that when you start talking about loans I recommend a Fixed Rate loan- part of the reason we are in this housing crisis is because of Variable rate loans where the rate fluctuates-you don't want that. But you are right now is an excellent time to buy. Strike while the iron is hot! Good luck.
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