I'd buy 3 of those houses if I could get them for that much down here! In crack town that house would go for $250k and in a regular blue collar burb it would be over $400k. $139k for 30 years with taxes and insurance shouldn't be much more than $1000 a month. That's a bargin. Have him look around, there are pleanty of lenders willing to lend 100% and cover most of the closing costs.