07-01-2008, 01:43 PM
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No the payments would probably be well over $900 a month. A few years ago, during the real estate/predatory lending fiasco, you would have been approved. Now you have to prove you are able to do so. 130k at 6% (less than CMR) is $776 a month. Now adding in taxes plus insurance and PMI (I am assuming that since you are 19 you don't have the 20% down). Your looking at well over $900 a month. Plus cost to close if you finance them too.
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