I was just thinking about a house payment versus rent. Lots of folks yell about this on the radio, but you may find this interesting.
A $300,000 loan at 3.25% results in a $1303 principle and interest payment.
Add to that monthly taxes of $180, insurance of $100 and HOA dues of $45 for a total payment of about $1628 per month.
How much down payment is required? 3.5% or $10,500 for down payment PLUS closing costs. Often, Sellers can be convinced to pay them, or the interest rate can be adjusted to cover them.
So for less than what you are currently paying for rent, you can own a home…
REMEMBER, I am a REALTOR, not a lender. Check my figures with a reputable lender.
Or check mine out under the BUYER tab at www.DenverRelocation.com