We bought in 2007. We paid $89,900 with $0 down payment and our mortgage payment is $549 monthly.
We just bought 6 months ago, paid $110,000 (HUD home), $0 down (USDA loan), interest is 3.25% and our payment including principal, interest, taxes and insuance is $618 month.
We paid $180,000 for our house. We do not have a mortgage. We were able to buy our house straight out.
There are so many variables...... I go to zillow.com to check out my local houses for sale and it will usually give you an estimate on the side for mortgage. Given your family is larger, the mortgage would be larger than for where my family would live. We just need a 2 bedroom house.
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