How to get the benefit of 700 dollars rent ..Pleqse help

Question

I'm an international student in the U.S.A and pay 700 dollars for rent. I heard that I can buy my own apartment/house while by paying the same amount of money monthly until I the total amount is paid. Is this true ? if yes, could it be without paying an interest ?

I feel I can take advantage of this amount of money paid monthly but I don't know how.

do you have any suggestions for me ? please, tell me I would

appreciate your help ?

Answer 1

Nothing is interest free.  Most American mortgages are set up to be paid off in 30 years

Answer 2

If you have excellent credit and at least 20% of the purchase price to use as a down payment, you may be able to purchase a house or an apartment. You will, however, pay interest on the mortgage.

Answer 3

What you describe is possible.  YOu can buy a house or apartment for $90,000 and pay $700 a month. You will be the owner.  The problem is that most apartments cost $190,000 and your payment will be too high. Don't get discouraged.  If you can find a cheap house, you can move in 30 days. Get to work. /