I'm in the military, I have a 670 credit score with around 8 years of history, and I gross about 44 grand a year.
I've never even considered buying a home before, but I'm about to get stationed in Panama City, FL for probably at least 5 years, and the selection of homes for sale seem to be much better than finding a decent one to rent.
I'll be using a VA loan to save myself some money, and I found a short sale home that was fairly decent for $77,000. (It first sold for 145,000 in 2004 according to Zillow)
According to the calculator, my mortgage would be between $350 and $450 depending on the terms and my credit.
But since I've never done this, what other expenses should I be prepared for? I know property tax and insurance are the big ones…
Any other significant recurring expenses OTHER than potential repairs?
And do you know a ballpark figure of how much they'd be for Bay County, FL?
Thank you.
Read more: What additional expenses should I budget for when buying a home?
