Ok, seriously though, take your gross income(s), multiply times 41%. Subtract monthly debts on credit report. That's what you can buy per month including principle/interest/PMI/HOI/HOA.
Now, for every $10,000 you borrow, you're paying $45 a month. Add $120 a month for taxes (just in case you find a 130k house for 70k). The county you live in also affects your property tax payment. Add $8 for every $10,000 for mortgage insurance. Add $50 a month for home owner's insurance. If you buy a condo or town home, add $25 to $175 a month for association dues. Some single family homes have association dues at an annual rate if they have common grounds or swim and tennis. Typical prices are around $100 to $300 a year in that price range. This calculation is what you'll want to afford. It may be higher or lower than you thought but at least this will give you something to work with.
If you know of anyone with not so good credit please send them my way. I also have six townhoms available with Private Financing. I can close those in five days.
Helmut Oscar Saroza Atlanta International Realty, LLC 770-383-2318
P.S. Is this your first time buying a house? I ask because there are a lot of Down Payment Assistance programs available for first time home buyers that you may qualify for.
If you like, I can setup an automated search for you to keep you updated about the properties based on your criteria.
Thanks, and good Luck.
it 100 down payment, please look in the Snellville, Lawerenceville, Some parts of the Sandy Spring area, you never know what may come up. Please if you need assist with getting qualify, please call Iris at Dimension Mortgage 4047688882 or Gordon at Wells Fargo 4047025681 they have really good loan programs.
call if you looking for agent 4049146977
Picket Report http://www.picketreport.com/ will help you with the statistics on the areas that you are interested in... great resource!
There are ton of matches in Cobb and Cherokee counties just to name two areas North of Atlanta that may be options.
If school districts are important be sure to use http://www.greatschools.org/georgia/atlanta/
Buying a foreclosure would help you buy equity. We are the largest REO broker in the State if we can help in any way just give us a SHOUT.
Best of luck in the searches...
so the answer to your question is YES you may find a decent home for that price range, but you may indeed
need to do some cosmetic changes. Lawrenceville and Snellville are somme good areas in North Atlanta
that you may want to search in.
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