I put 5% down on a 515k townhouse inside the beltway and pay about 2800 a month all in. My pmi is only $105 so was worth it to me to leave more of my money in the market. Talk to a lender to get a more accurate idea of what the costs will look like
I live in North Bangalore and Electronic city is too far from my home so just wanted to know if there is any other DC apart from Electronic City Infosys
Subject Expert
I’ve been hearing that many banks are doing 15% down with no PMI on houses like this. Talk to a mortgage broker, ask what’s out there.
20% down may get you a slightly better rate, but if you can get away with 15% down and no PMI, go for it!
That being said, with a roommate it’s definitely a smarter move than renting.
Are you sure about your costs. I have a 400k mortgage with everything coming on out to over 3k.
See if you qualify for the loan, but you’ll be strapped for cash after purchase. Need 20k e fund and barely any move in or repair expense cash left.
I put 5% down on a 515k townhouse inside the beltway and pay about 2800 a month all in. My pmi is only $105 so was worth it to me to leave more of my money in the market. Talk to a lender to get a more accurate idea of what the costs will look like
What's your take home?
75% of take home feels high but sounds like you're reducing investment contributions