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the amount of down payment they have, their credit history, the size of
the house, the value of the house, the land, even the neighborhood are
all going to factor into what you end up paying for that house on a
monthly basis.<<<
When we were first trying to purchase this house, my husband had bad credit and I had good credit (with no job). Therearelocal programs offered by our city which offer assistance to first time homebuyerspurchasing homes within the city.One of the programs helped to supplement the interest on the loan if you made below a certain amount, so we ended up with a loan at 5.6%. The other program helped with down payment assistance. Without these programs, we would have been unable to afford our home.
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people are paying on a mortgage. It isn’t -just- the city or state a
house is in that affects what a person pays.<<< That’s true. There are alsomany programsin existenceout there to help people that want to be homeowners.We did not find out about the programs that assisted usuntil after we were trying to buy a home. The mortgage broker did the work for us. Check with your local city government and state agencies to see what programs are available, if any, for homebuyer assistance. You may be pleasantly surprised.
April
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