Question: We are a young couple thinking of buying a house. Our income is about $36,000 a year. In what price range should we be looking?
Answer: Figure that you can probably obtain financing for a house priced at roughly three or four times your annual income. You should look for a home between $105,000 and $140,000.
I would make sure that you have a good financing deal. Lower interest rates are not necessarily the answer. Try to find a good, legitimate rate, either guaranteed or variable, that will allow you to handle the payments.
The amount of housing appreciation or inflation at present is virtually non-existent. Thus, there are quite a few good buys available.