3 Bedroom Homes under $120,000 in Madison, WI

It isn't often that you can find a nice 3 bedroom home for under $120,000 in Madison Wisconsin. Due to the recent economic recession, today there are currently over 50 options for you! Click on the map below to see these active MLS listings.

You might be wondering how much a mortgage payment would be on a one hundred and twenty thousand dollar house. Let's say that you were able to come up with a 5% down payment. For a home at this price, that's $6,000. Today's mortgage rate is around 3.75%.  This leaves a principal and interest payment of only $528 per month! There are other things to factor in, including taxes, home owner's insurance, and any private mortgage insurance, but you get the idea. This is much cheaper than rent!

In fact, many of these three bedroom Madison homes would make great rentals too!