$100, 000 spent on a home with 3% down ($4500) at 5% interest for 30 years would make your payment about $512.00/month for principal and interest. You would then add the amount for your taxes and insurance (total of each divided by 12, then add to the p&i payment above. The taxes are posted in public records for each property or on the rmls sheets. Use a 30.00 per month for insurance for a good estimate on a small house such as this would afford you. This rate would be on real estate as long as you qualify for the rate and purchase price. Manufactured homes are considered personal property if they are not on their own land and would not qualify for this low a rate. If you are looking to get the best investment for your money you should consider a piece of real estate for appreciation rather than manufactured homes which depreciate.
Your income and current debts will determine how much you qualify to purchase. Your payment history (credit score) will determine the interest rate you qualify for.
If you would like to know what properties would fall into the price range you are interested in please set of your own private login and search criteria on my web site. You can save favorites and your search criteria will be saved so you don't have to re-enter it every time you visit. If you would like more information I am available by email, phone or via the web site below. I can set up searches for you and send them to you via email as properties come available.
A lot of times buyers want to know agents come recommended or with good references. You may see mine at http://www.qualityservice.org.
I have a Platinum rating (the best score possible) as collected from an independent research firm by surveying my past clients. Those ratings are posted publically for all to see at the quality service site. You'll enter my name and state to view my scores.
Your credit score is great. And now is a great time to buy! I wish you well whatever your decision.
June Lizotte, Broker
Providing REAL Service
Prudential NW Properties
6400 SE Lake Rd. Suite 200
Portland, OR 97222