USDA Home Loans Blog

If you are currently renting now may be the time to consider buying.

In many areas of the country it is now it is cheaper to purchase a home than to rent one.

When comparing always figure what your property taxes and homeowners insurance will be in addition to your principle and interest payment.

For example, if you are considering a $150,000 home  with no down payment  your monthly principle and interest payment would be approximately $829 per month.

Estimated property taxes $2000 per year.

Estimated homeowners insurance $800 per year.

Divide each of these by 12 and add them to your principle and interest payment to figure your total monthly payment.

principle and interest payment    $829

Monthly property taxes              $167

Monthly homeowner insurance     $67

Total monthly payment (piti)       $1063

With the $8000 tax credit now is a great time to stop renting and purchase a home of your own.

Apply Now... It's Fast And Free