With 0 down, because OP didn't disclose that'd be a high 4% interest rate if the payment includes interest that's not taking taxes into consideration of course or insurance. 30 year note*
Well i'm not OP, but yes he would still have taxes to pay yearly and insurance premiums yearly if they are not using an escrow account. Taxes vary big time so I can't even guess what his taxes are and insurance can too, our old house we sold last year was $3,400 a year and our brand new house is right under $1,000 a year (it'll go up as the house ages obviously)
If his $900 a month includes taxes and insurance then he got a good interest rate or low taxes and insurance or put a big chunk of cash down. I'm really kinda interested now that I wrote all this so I hope he replies lol.
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u/clanky69 Mar 12 '21
With 0 down, because OP didn't disclose that'd be a high 4% interest rate if the payment includes interest that's not taking taxes into consideration of course or insurance. 30 year note*