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I bought when interest rates were 3% and put minimal down so about $3k/m
A $500,000 house in Atlanta? Where???
South of I-20 🤝
Gotta realize this depends on interest and down payment amount
$2k a month but pay 2600 for early pay off
Why pay more if your rate is lower than inflation?
mortgage calculator https://g.co/kgs/aU8QA9
Too many individual factors at play.
Mortgage was 449k rate is 2.9 note is ~2300
House $490k. Rate 5.5%. Mortgage all in monthly $3,337. Put down 5%
right now my balance is $89K
@Md1 this is my goal. I am 290k away. I switched to a 15 year and got a 1.875% mortgage and make additional principal payments. I will be done in 10 years. Bought a house as an associate intend to stay till I make partner.
3000
There’s calculators online for this. I looked recently at putting 5-7% down on 500,000. It came out to the high 2,000’s. Not including property tax etc…
Mortgage=$550k, rate=2.5%, note=$3k
$3k for mortgage + insurance + PMI + taxes
$2.5k with rate 2.9%
$506k purchase, 10% down, 30 yr @ 2.99%, $2.1k for principal, interest, escrow, and PMI
Depends on the rate, property taxes, loan product and down payment. If you are looking to purchase it’s best you get pre-approved or at least speak to a lender to get a general idea of what the payment would be. Everyone is taking price cuts right now so my advice is if the house is listed for 500k put a bid for under the amount or negotiate closing costs and refinance once rates drop.
With Fulton County property taxes and insurance, my 525k loan at 2.4% is around $3200. Probably going up next year due to the appraisal I forgot to appeal…