Just because a house for sale n Newnan Georgia is cheap does not mean that just anyone can by it! Good credit is a MUST!
By Richard Weisser, Richard Weisser Retired Real Estate Professional
(Richard Weisser Realty)
There are a lot of inexpensive homes for sale in the Newnan Georgia. By “inexpensive,” I mean under $70,000. And if you crunch the numbers at today’s low interest rates, house payments on recent purchases in the $300-$400 range are not as uncommon as one might expect. It is certainly true that the amount of income required to qualify for a loan on a house in this price range places nearly everyone in the realm of a potential buyer. Many would-be purchasers have car payments that are higher than their potential monthly mortgage outlay. So therein lays the problems: Debt to Income ratio and the dreaded FICO score. Cavalier attitudes toward accumulated debt and the accompanying timely repayment of the same preclude many from actually saving money and buying a piece of America. And these ...