Where to Buy a Home for Less Than $800 a Month

Why not put a 50% downpayment and get the price down to $500/mo? Or better yet, 100% down with no monthly payments. Don't laugh, it does happen. Almost half the houses in America have NO mortgages. I will join those ranks shortly. I bought a repo house 4 years ago. Asking price was $185,000 and I got it for $120,000 and have it 60% paid for already. It needed work- thus I offered low and the bank accepted the offer. A little sweat equity and I have a great house that I am proud of. Oh, and the payment is just $405/mo. Don't chain yourself to a life of mortgage debt. Buy what you can afford.

dave of FL 2:01PM June 14, 2011