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If you buy a condo or a house in a planned community, HOA fees can be $200+/month. This would drop your home buying power significantly (potentially down to a $60,000 home).
A lower score means a higher interest rate, which reduces how much you can borrow. how much house can i buy for 800 a month
You will have a larger loan and must pay monthly PMI, which eats into your $800 budget. Scenario B: Standard Down Payment (20%) Cash needed: ~$20,000 Max Home Price: ~$115,000 If you buy a condo or a house