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 ShockValue
Because, ShockValue.
Registered: 11/18/08
Posts: 5,008
Loc: Tipping at windmills.
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Depends on the area. I'm out in the boonies to the cost of land is significantly less than if I were to buy in the "Greater Seattle Area.".
If you have OK credit, along with first time homebuyer incentives, etc.. You could probably pull a 200K house (10% down). That wouldn't get you shit in crowded areas, but would get you a modest home in the sticks with me 
Ideally you could get your saving up to 20% down, that way you can skip the mortgage insurance, which is just extra money per month that builds absoloutly 0 equity in your home.
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- When we built temples to view the stars, we knew about all 2000 of them.
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 Prof. Astro
acirebma
Registered: 04/15/08
Posts: 4,083
Last seen: 1 month, 20 days
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Here in the state of FL you have to carry insurance until it is paid off. So the bank gets their cut in case of a hurricane. There have been so many small houses for sale in this area for 10k or so due to foreclosures. It's all about location, and income. College graduates =/= more income, so sometimes it's just hard work and determination to build your own equity and assets.
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