But I am wondering how much per month morgages actually come out to.
I play with the morgage calculator on MSLI all the time, but thats witout taxes and insurance and junk.
Is it much higher than you expected???
princess99
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Re: I know this will vary greatly
Out mortgage alone is 1180.00 with taxes it is 2,000 a month. That is b4 we pay homeowners insurance which is separate DH union has a discount so it comes out of his paycheck after this year. The first year we had to pay up front b4 closing. It all depends on what your taxes are for where you live. Hope this helps.
MrsERod
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Re: I know this will vary greatly
Posted by princess99
Out mortgage alone is 1180.00 with taxes it is 2,000 a month. That is b4 we pay homeowners insurance which is separate DH union has a discount so it comes out of his paycheck after this year. The first year we had to pay up front b4 closing. It all depends on what your taxes are for where you live. Hope this helps.
Princess...that would mean your taxes are $9,840 per year???? Holy Cr@P!!!!!
princess99
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Re: I know this will vary greatly
Yup! It is. the house is a legal mother daughter. That is why the taxes are so high. I get annoyed with all the illegal rentals becuase i pay in taxes for the legality of it and there are people in my neighboprhood not paying these taxes and renting illegally. This was my parents house and they both passed away and I bought my sister out of her half, there is no place I can get a house like this for the price I got it for... 200,000 the house is worth 550,000. My grandfather used to live here b4 he pased away. We are going to rent ou t the downstairs , eventually, and it is all legal becuase we are going to rent to family. That is the lucky part. I remember my parents going to court to get the papers done to make it legal. It is crazy what we pay in taxes... I am going to fight it since I am officially on the deed now.
kptoys
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Re: I know this will vary greatly
Our mortgage, insurance and taxes are about $2000 a month.
Hazeleyes33
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Re: I know this will vary greatly
We bought my parents house and put alot down and the house was pretty cheap (at today's prices). Our taxes just went up again, $4,800/year with Star. We pay $1,040/month for mortage, taxes and homeowners.
nov2004bride
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Re: I know this will vary greatly
Our payments are double what we pay in rent (we rent a house). It is much higher then we thought. But so worth it
Jmg11
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Re: I know this will vary greatly
the 'rule' is it's about 6-7 dollars (depending on your rate) per $1,000 you borrow. (this does not include taxes)
So if you borrow $300,000 at about $6.50 per $1,000 your mortgage will be $1950 a month.
Jen2999
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Re: I know this will vary greatly
ughhhhh
How do people do this??!!??
matron
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Re: I know this will vary greatly
Ours is $2,800 --- and I just quit my job!
chris605
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Re: I know this will vary greatly
Ours will be just under $3k...and that double our rent now - but atleast our money is going to us and our investment and not someone elses... I want to close already.... LOL
Kate
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Re: I know this will vary greatly
Here is a mortgage calculator that figures in the yearly taxes, homeowners insurance, and even PMI if you are putting down under 20%DP.
You can estimate the taxes depending on what area you are looking in, and Ins is around $800-1,000 per year, maybe a little more on LI.
