How much would the monthly payments be on a house for $80,000?

Asked by Honeylamb, Acworth, GA Sun Dec 20, 2009

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Chad Swoszow…, , Woodstock, GA
Sun Dec 20, 2009
Chad Swoszowski
Agent
Woodstock, GA

You really have to move on the properties quickly because of all the investors out there that are looking to capitalize on those type properties. They will put a little money in to them and rent them out or flip them. Either way thay make it hard for those who are looking to purchase in that price range. You have to be very proactive on those.
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Honeylamb, Home Buyer, Acworth, GA
Sun Dec 20, 2009
actually my husband and I found a quaint old-fashioned house that was built in 1850, but of course it had
be renovated several times and it was selling for $85,000. It looked to be in good condition, but we were
too late in making an offer and we were told later that the people that put the contract on it didn't have it
inspected.
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Chad Swoszow…, , Woodstock, GA
Sun Dec 20, 2009
Honeylamb,
Do you no about the GA Dream program? It is down payment assistance. Great program. Also there is the first time home buyer tax credit plus the tax credits offered by the State of GA. If you have not gotten pre-qualified would be happy to recommend some great lenders. Let me know if you need to find a house. There are some great deals in the Acworth / Kennesaw area as well as out places around. Let me know if I can help.

Chad Swoszowski
Prudential GA Realty
Woodstock, GA
678-697-0382
chads@prudentialga.com
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Al Akerman, Mortgage Broker Or Lender, Lakewood, NJ
Sun Dec 20, 2009
lol (plus twenty something characters)
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Debra (Debbi…, Agent, Livingston, NJ
Sun Dec 20, 2009
well, whats a few dollars among friends!
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Al Akerman, Mortgage Broker Or Lender, Lakewood, NJ
Sun Dec 20, 2009
No Deb- you taught me!!!

I forgot to the write the part about 30 year fixed!!

Wait until Honey asks for a 15 year and finds out that her payment is a whooooooole lot more :)
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Debra (Debbi…, Agent, Livingston, NJ
Sun Dec 20, 2009
Hah Al - We both answered at the same time - I was off by $4.60! That'll teach me! :)
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Debra (Debbi…, Agent, Livingston, NJ
Sun Dec 20, 2009
The monthly payments would be in the range of $425.00, based on a 30 year fixed rate mortgage, at 5% ..............this is subject to change, as rates change,

Of course, you'd have to factor in your property taxes and insurance for the total monthly amount.

Best wishes..........
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Al Akerman, Mortgage Broker Or Lender, Lakewood, NJ
Sun Dec 20, 2009
The principal and interest that you would pay the bank, if your rate would be 5%, is 429.60.

You would have to add to that your monthly insurance and real estate taxes which are different for each individual property.

You can contact a Realtor in the area of your interest to get a range of how much the taxes would be.

Hope this was helpful.

Good luck.
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