You can envy my mortgage all you like , but it's so high because:
a.) I live in a HCOL area. b.) We only put 3.25% down. PMI forever. (wilted) c.) Fairly high county taxes
For what I paid for my 1600 sq foot 1968 townhouse in NOVA, I could get a 2200 sq foot 10-year-old SFH in my hometown of Virginia Beach.Â
ETA: Oh, we're doing amounts! We pay $2170 a month. That's everything (principle, interest, PMI, taxes, etc.). I think our interest rate is 4%?Â
Still jealous.Â
Ok, I'll try to take some later. But just as an idea, my $2600 gets me about 1450sq ft, 3br, 1.5 baths. We put down 12% and did a single premium pmi that we paid in cash so it doesn't include any pmi. And our interest rate is 4%. houses here are ridiculously expensive.
Post by penguingrrl on Jan 20, 2015 9:54:01 GMT -5
We pay $1545 for rent on a 3 bed/2 bath house that's probably around 2200 square feet. We moved this summer and it's the lowest rent we've paid since 2007 and the biggest space by more than double. We actually would prefer to be spending a little less and would happily take less space, but we're somewhere with a very limited rental market and our two other options were very close in price and had serious problems (one had one outlet per room and still had knob and tube wiring, the other had us upstairs and the kids on the first floor, which I was not comfortable with and putting the kids up and us down wasn't possible due to the layout).
Post by runblondie26 on Jan 20, 2015 9:57:06 GMT -5
We bought a short sale in 2008 and have a 3.5% interest rate, no PMI. Our property taxes are ~1K per year. Our house is stupid cheap considering it's size, the amount of property we have, and proximity to the city.
Downside is the schools in our county are terrible and we more than make up for it by paying for private school.
Post by fortnightlily on Jan 20, 2015 9:57:11 GMT -5
~$2200/mo PITI. 30 year fixed rate mortgage at 3.625%. We put 20% down, bought in 2013 in a HCOL Maryland suburb of Washington DC. 4 bedrooms, 2 baths, 1500-ish sq feet not including a semi-finished basement that we are in the process of fixing up.
We don't escrow, so I know the breakout: $1200 PI $315 T $100 I PITI total $1615 We also throw an extra $300 at the principle most months, but that leaves me in the same category for your poll.
M/H COL depending on your definition (you know where I live, at least approx.) 1880 farmhouse, 4 bed 1 bath, formal dining room and double parlor (ie living room and play room/office), half an acre in suburbia.
I can't remember. We put a lot down when we purchased in a HCOL area at the height of the market, and have since refinanced. I think it's about $2,400/month when all is said and done. We still pay our "old" rate, though, so we can pay the house off sooner. So we're shelling out more than what I quoted.
Our property tax hasn't been assessed on our new build, but its probably going to be around $750/month plus we pay $2k/month towards our mortgage. We have a private, interest-free mortgage tho that will be paid off in about 15 years.
Post by thebreakfastclub on Jan 20, 2015 10:03:40 GMT -5
$1500/month for everything gets me a 4 bedroom, 2.5 bath, 2300 sq ft home. It's 20 years old and in a semi-fancy area next to a fabulously wealthy suburb.
We pay a little under $900 for 15 year mortgage. We don't escrow so I think insurance and taxes average out to $400, maybe more. Our home is 2100 sq ft. It is very LCOL.
$1,060 PITI - no PMI (I think taxes are about $2500-3000 annually, but I can't recall since we escrow and it's rolled right in.) 1970's construction SFH - 4 bedrooms, 1.75 bathrooms, 2.5 car garage, half an acre lot in the city