If you’ve been saving with that idea that you want to quit renting and buy, the Tuesday Two Hundred price point is a great one to kick off any search — and it’s where you’ll find houses like this great Craftsman in North Oak Cliff.
“Yes, it’s cute,” you may be thinking. “But North Oak Cliff is hot right now, and there is no way I can afford a house there.”
But if you’ve been saving with the idea of putting down 20 percent, you might be surprised. Let’s do the math: The average two-bedroom apartment is renting for $1,120 right now in Dallas, according to this recent report.
If you put 20 percent down, though, and have a decent credit score and find the right lender, you can potentially be looking at a monthly house payment of $1,245, give or take that credit score (we factored for a 4.2 percent rate) and other variables like property taxes and insurance. (more…)