Best mortgage for low monthly payments, period?

[Guest]

Hello! I am new, so please bear with me. If I give too little info,
tell me, please, and I will fill in.

fyi: we live in hudson valley, ny, and are looking in dutchess,
orange, and possibly putnam county. we would love to live in bergen
county, nj, but we do not think it’s possible.

– my husband and i have perfect credit and very little debt (car debt
only of around $321 monthly; he bought car before knowing me.)

– We are both first-time home buyers.

– We are both traveling salesmen who work purely on commission. We
get a draw from our guaranteed salary weekly of around $1,100 net,
and a NON-guaranteed bonus after 12 weeks. So yearly income on paper
looks decent, we were are very tight for eleven weeks at at time.

Because of our very tight draw, I feel most comfortable getting a
mortgage that allows us to pay very low (the lowest) monthly
payments.

I believe, from what I have calculated, that we can offer a PITI
(principal, interest, tax, and insurance) of $1,200.

I do not know how long we are going to be living in the house that we
finally bought. I would LOVE to live in it for all my life, but that
does not ususally happen so I’ve heard and read.

What would be the best mortgage to provide the lowest monthly
payment?

I thank you very much.

Belinda

[Author]

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