Financing in 44136>Question Details

samosvoja79, Other/Just Looking in Strongsville, OH

Monthly cost of owning a condo

Asked by samosvoja79, Strongsville, OH Tue Jan 15, 2013

My husband and I are looking to buy a condo in the price range $80,000-100,000 (with less than 20% deposit) in Strongsville, Ohio. My husband would be a first time owner, I was previously the second co-signer on parents' house, not sure if we would qualify for first time buyers special programs? (maybe if I'm excluded from the mortgage since I don't work full time anyway?). We are wondering what are approximate monthly expenses including mortgage, taxes, insurance, maintenance, any additional condo fees, utilities, etc., in this area? Our concern is if we can afford the mortgage in this price range on our budget which is already pretty tight living in an apartment with most utilities included. We are a family of 3 members. Thank you!

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Lisa Humenik’s answer
If you are looking to purchase a condo in Strongsville (at your highest price) at $100K, your payments would be approximately $450 (Principal & I), $150 (average condo maint), plus $200 (taxes), plus $50 (insurance) equals about $850 per month. If you purchase less than $100k (or out more than 5% down), your payments would be less.

Yo may still be able to qualify as a 1st time buyer, if you did not purchase a home in the last three years, you may qualify as a 1st time home buyer. However, most 1st time home buyer programs do not include condos. If you'd like more info on Ohio first time home buyer programs available, visit my blog ( see the post at http://northeastohiorealestatesource.com/sellers-info/).

Please contact me if I can be of assistance as I will be happy to help you!

Lisa Humenik
Realtor, RE/MAX Crossroads
Direct Tel: (440) 476-4959
Email: lisahumenik@gmail.com
Web: NortheastOhioRealEstateSource.com
0 votes Thank Flag Link Tue Jan 15, 2013
Samosvoja,

What you need to do is to speak with a Lender/Loan Officer. There as some programs for First Time Buyers, however those programs do have Income Limits. Talking with a Lender/Loan Officer that knows the Strongville area would be the best thing for you to do.

With that said, my offices are in Parma Heights. Just a stones throw from Strongsville. Check my profile page and call me if you want.
0 votes Thank Flag Link Tue Jan 15, 2013
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