How much is your mortgage payment?

[akshatp]

Originally posted by: KMc

Originally posted by: akshatp

Originally posted by: jdoggg12

Originally posted by: akshatp

Originally posted by: jdoggg12
Dang! Are you guys all on interest only or somethin??

Nope.

4500*120 = 540k

So you're only paying 35k in interest and property taxes over 10 years? I don't understand how you're doing that if your actual loan was 505k

Hmmm you know, you are right. That doesnt make sense.. I just pulled it up online and looked at my year end 2006 tax/interest statement and that alone was over $35k


MORTGAGE 00568xxxxx
Property taxes paid in 2006 $13,481.59
Interest paid in 2006 $23,700.86

And I made a typo above, its actually 5.5% which makes it even worse
http://pics.bbzzdd.com/users/akshatp/mortgage.JPG

You might want to check your mortgage terms again, because these numbers sound more like a 20 year note.

$13,481.59 in taxes is roughly $1123 per month, meaning your principal and interest payment is about $4500-$1123=$3377.

The payment on a $505,000 mortgage @ 5.5% for 20 years is $3,474, which is within $100 bucks of your number. A 10 year note would result in a payment of $5,426.

It is a 20 yr note. I dont know what I was thinking last night. I must have been really really tired.

 

[Dulanic]

30year 5.5% $1543 plus $150 HOA also.

 

[TheSiege]

80/20 loan at 30 years

$860 a month for first loan 124k @ 6.38%
$140 for second loan 16k @ 6.5%

I plan to have it paid off within 10 years

 

[Eos]

7 months into some kind of 10/20 year fixed interest only thing, then it goes up $370 dollars for the last 20 years.

Mortgage is $191k, payment is $1378 which includes (for right now) interest and taxes at about $220 per month. Will go to $1750 in 9.5 years.

Insurance is $36 per month. Yes, homeowners insurance for $36.

We'll be changing to a regular mortgage when I switch jobs and the timing is right.

EDIT: southeast Washington state.

 

[alkemyst]

I wish I could have kept my first house. It was a good rate at the time 7.25%...a great 3/2 with 2 car garage and enclosed pool on 1/2 acre backing to water. Nice neighbors and I fully restored it. My payment was $800 (current is $2200 and half the house 10 years later). Principal was only $118k. Same house today is selling at $350k-450k in that neighborhood.

 

[Chaotic42]

Originally posted by: sdifox

Originally posted by: Chaotic42
What the hell are you people doing that you can afford $4K per month for a mortgage? Holy Christ.

dual income ftw

I'd have to marry up! 😛

 

[thomsbrain]

your range is a sad joke.

i can tell you don't live in CA.

as for what i mean, $4000 is starters for a single-family home around here. want something decent in a safe neighborhood? bring $6000 a month. even a crummy townhome will run you $2500 a month.

 

[rh71]

$2150/mo.
$260k loan @ 5.875%, no PMI (put down 20%).

Dual income is great but can't yet afford a $4k mortgage and still spend on other things, like some people here.

 

[rh71]

Originally posted by: thomsbrain
your range is a sad joke.

i can tell you don't live in CA.

as for what i mean, $4000 is starters for a single-family home around here. want something decent in a safe neighborhood? bring $6000 a month. even a crummy townhome will run you $2500 a month.

Are you saying 3br / 1-2bath starter homes cost $700k in CA and near 1mil in a safe neighborhood ?

 

[GoingUp]

$817 🙂

about $1155 if you include property taxes and association dues.

5.75% 10 year arm.

 

[Jadow]

5.4% fixed for 30 years no points.
< 1000 including taxes and insurance escrow

 

[Vasp]

6.25% fixed for 30 years no points.
3100 Ist Mtg
675 Second mtg @7.75 fixed for 15 years no points

all inclusive of escrow, insurance etc

 

[Chaotic42]

Originally posted by: thomsbrain
your range is a sad joke.

i can tell you don't live in CA.

as for what i mean, $4000 is starters for a single-family home around here. want something decent in a safe neighborhood? bring $6000 a month. even a crummy townhome will run you $2500 a month.

It's not too inaccurate for the rest of the country. Of course in those parts of CA, people are making four times what everyone else is making.

 

[GasX]

I have a pretty large mortgate but the kicker is my tax bill which DOUBLES the payment.

 

[MustISO]

~$2,000/mo.