So many houses for so little money

          At the time of this post, there were 48 houses (not condos; houses) in the city of Seattle for sale for less than $130,000. Doing a little math, if buyer's closing costs are rolled into the loan and the buyer were approved for FHA financing, a downpayment on any of these places could be $4550 or less. I've paid nearly that much as a deposit to RENT a house before! And with current interest rates as low as they are, the monthly payments could be as low as $950. I don't know too many people who rent houses for less than that. . . factor in that the interest on home loans is tax deductible, and the actual annual housing cost on a $130,000 house is about $5400, or $450/month! So has there really been a better time to buy a house? . . . Not in my lifetime. . .

          It certainly bears mentioning that a lot of these places could use a little work. And sometimes "issues" with properties can lead to a bank not being willing to loan on a property. But that's where the FHA 203k home  loan comes in. The 203K is a "rehab loan". After closing, the buyer gets money to spend on all the things the property needs, from a new roof, to new flooring, to new paint. Even new appliances can be purchased with a 203k home loan.

Click this link to full list of Seattle homes for less than $130,000.

If you like anything you see, get in touch with me. I specialize in first-time buyer representation and I'll be more than happy to help! 

 - Geoff Hill - Keller Williams Seattle Metro West