Live in New York. Thinking about buying a house...?

Question

How would I go about? Is there any morgages or payment plans for $400 a month until the house is payed for and what are the other payments or taxes? Please tell me as much as you know. I'm thinking about Brooklyn or the Bronx.

Answer 1

Your mortgage payment is $8 per thousand dollars that you borrow.  A $400 payment means the mortgage is $50,000.   That would be a house that needs a lot of fixing up.  If you can do the work, go ahead.  If you can't, do you have anyone who would be your roommate in return for "work" on the house.  Make some offers and see what people say.  It might work. /

Answer 2

You can't be serious.  Your taxes and homeowners insurance alone would be way over $400.00 a month.  

Answer 3

anyone that knows anything about NYC real estate knows  that real estate taxes are extremely cheap (since they have a city income tax).  So if you owned a small house, your tax bill + insurance probably would be less than $400/month in brooklyn or the bronx (if the house were small enough)

With that said, you still have to pay for the house.  There are no houses in NYC that you can buy for $400/month.  Sorry