There are a LOT of factors involved in this. What would your insurance be, your taxes, any association dues? What are you putting down as a down payment? what is your credit like? What kind of interest rate are you able to get? You need to sit down with your Realtor and a GOOD mortgage lender and find out what YOU are qualified for. Call me at 314-660-4803 and I'll give you the phone number for a good mortgage lender who will talk to you tonight to help you sort it out and get you preapproved for a loan so you can buy that home right away.
119,000 at 6% for 30 years no money down, P&I is 713.47 You must also take into consideration taxes, insurance, and mortgage insurance. The best thing to do is obtain a good faith estimate from your lender.