Good morning,
I am 25yrs old and have a salary job making $67,700. I am single and can only afford $9,500 down payment. I have no debt. I was not saving as much as I should have but due to my current living situation I need to move out by the end of the year, and I was hoping to avoid apartments. With the help of my realtor I found a house that was for sale for $194,500 but we got it down to $190k with $3k closing cost credit included.
The house appears to be in very good shape, but an inspection will be performed if I decide to close.
I've never owned a home before so once I had the realtor (also broker) break down the mortgage for me I realized that I'd be living on a pretty tight budget for some time to come. Unfortunately from all the houses we looked at, ~190k appears to be the lowest for a decent home that doesn't need 30k in repairs. This house is move-in-ready.
Assuming my mortgage comes down to around $1,760/m (mortgage, mortgage insurance, property taxes, and hazard insurance) do you think this is something I can afford?
Any other input is welcomed.
Thank you!
Submitted November 28, 2018 at 08:04AM by ObiWanQdoba https://ift.tt/2r88Fo5
