# To stay within an \$800 a month mortgage payment including insurance and maybe taxes, what price range of a house should I b looking at?

Asked by Az, Horizon City, TX Sun Nov 18, 2012

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Hi Az,

It depends on a couple of things.

1) Which loan program you need/qualify for.

Here's an example:
On a \$125,000 FHA loan at 3.25%, your principle and interest payment will be \$555.11 PLUS the FHA monthly mortgage insurance of \$130.20 = \$685.31 plus taxes and insurance. In this case you only have \$114.69 (under your \$800 budget) to apply towards taxes and interest.

The exact same scenario on a USDA mortgage will give you a principle and interest payment will be \$555.11 PLUS the USDA monthly mortgage insurance of \$41.67 = \$596.78 plus taxes and insurance. In this case you have \$203.22 (under your \$800 budget) to apply towards taxes and interest.

2) The property taxes and home owner's insurance will impact how much you end up paying every month so you'll want to pay attention to how much the taxes are on each of the homes your interest in.

Here's a quick short cut you can use. For every \$10,000 you borrow, your principle and interest payment will be \$44.41 on a 30 year term at 3.25%.

You can also use the mortgage calculators on the following sites.

http://www.fhamortgagesdoneright.com - this mortgage calculator includes the FHA monthly mortgage insurance as well as estimates for taxes and insurance.

http://www.usdamortgageonline.com - this mortgage calculator includes the USDA monthly mortgage insurance as well as estimates for taxes and insurance.
To stay within an \$800 payment (including principal, interest, taxes and insurance) you are looking at about \$105,000 at a 3.25%. If you are a first time home buyer, or have not owned a house in the last three years, there is a Bond Program that can assist you with you down-payment of up to 5%. You can call or text me at (915) 549-1962 or visit my website at http://www.SellingEP.com

Hope this information helps.
Hello. Great to hear you are still pursuing the purchae of your first home. At \$800 per month, your minimum sales price is approximately \$100,000. You can realistically become approved for more depending on several factors. There are also special financing programs available in Horizon, Tx.

Feel free to contact me at your earliest convenience so I may share additional information.

Here's wishing you and your family a Happy Thanksgiving !

Jorge
915-491-5522
Between 90,000 and 100,000, maybe a little bit more depending on the interest rate, type of loan, down payment and even location of the property, among other factors.
Oscar Nieto, Realtor with Exit West Realty, (915) 355-9305
If your I horizon you could qualify for zero down programs. Less than 130 give me a call for a free buyers consultation :) 443-3598 chris Rojas realtor
Howdy and Good evening Mortgage payments and \$800 price range is one of the most frequently asked questions in this market! Now of course the question will have a question as different locations coupled with the different types of mortgages will yield a different answer. Without knowing all your particulars I would estimate you could buy a house with a value up to \$110000. This amount assumes principal, interests, home owners insurance and property taxes complete. Of course knowing just a bit more of information could pin this down for you tighter. Give me a call and lets talk and when do talk remind me to tell you that there is Credit Fix for free and I represent Dollars for Service that gives cash back after closing to qualified buyers and sellers. It is a great time to buy right now and the choices are great. Lets go have fun looking together.

Cynthia Ann Morris,
CNE, CRS ,CSP,ePRO, GRI, TAHS,Texas Property Tax Arbitrator,Certified Real Estate Instructor
Sales, Property Management and Investing First Time Home Buyer Specialist
Short Sales and Foreclosure WE BUY HOMES
Broker-Owner Serving you and all of El Paso County.
Phone 915 471 4300 Fax 915 855 4609
email cynthia@EPHomeSearch.com Website http://www.EPHomeSearch.com
Web Reference: http://www.EPHomeSearch.com
you will find many:
Insert different senarios and you can see the results,
Change one variable and see the difference it makes,
have fun.