Cheap Detroit Homes... $3 Monthly?
CheapHomeReport.com a free website tracking the “lowest of low” home prices in the United States, is reporting cheap Detroit homes selling for $500. Technically making it possible to purchase a “cheap home” for less than $3 monthly.
The (theoretical) payment calculation assumes a buyer would qualify for a prime interest rate (5.5%) on a fixed 30 year mortgage with 20% down payment, ($100) making the mortgage payment $2.27 monthly. The estimated payment would not cover property taxes, insurance, maintenance, and/or possible repairs.
To see the lowest priced Detroit houses and other cheap home locations, visit: CheapHomeReport.com.
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