If you are looking to rent a home, try craigslist. However, for about $800.00 a month you could own a 2 bedroom home with as little as $1,000.00 down with good credit and if you are a first time home buyer. If you have owned a home in the past two years, you can still buy a home with as little as 3% down, which would be around $6,000.00 on a $200,000 home. Also, it is possible to get your closing costs paid by the sell or other federal or state providers.
The recent housing crisis has forced many people out of their homes, which has affected rental rates. Currently, because of the low home prices and interest rates, buying a home will probably cost less than renting. For example a $300,000 home would have a mortgage of about $1,280.00 (apx 4% Down, @ 4% interest), but that same home would rent for as much as $1,800.00. Needless to say a $250K home would have a much lower mortgage. Compare for yourself- drop down menu â€“ Owning Vs Renting @ http://www.dnorwood.com/MORTGAGE_CALCULATOR.aspx
If you are interested, you can look at homes on my web site at http://www.dnorwood.com/Pages/PASO_ROBLES.aspx or give me a call and I will send you a link to the MLS.
David Norwood - Central Coast Real Estate 805-471-0828 - David@DNorwood.com... more