Miguel Cruz wrote:

Charles Newman e wrote:

Where are you getting mortgage payemnts that cheap?
I thought that the minumum mortgate payment on any
house in the USA would be at last $1000 per month,
or about $12000 a year.


He may not have just purchased the house. Imagine a $100,000 house purchased
20 years ago.

Imagine one purchased last year when 5 1/2 percent was possible.
A 150,000 loan for a 5.5 percent 30 year mortgage would cost $851.68 per
month. There are many places in the US where you can by a home for
$150K. Consider 1/4 down and the house price would be 200K.