{ "media_type": "text", "post_content": "Wanting to buy a place and looking for benchmarks. For those of you who’ve bought, what were your specs (1) salary, (2) home cost, (3) down payment, (4) mortgage type, (5) monthly principal, interest and (6) taxes and insurance.", "post_id": "5eb0fc45923a12001abb0e72", "reply_count": 22, "vote_count": 3, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

Wanting to buy a place and looking for benchmarks. For those of you who’ve bought, what were your specs (1) salary, (2) home cost, (3) down payment, (4) mortgage type, (5) monthly principal, interest and (6) taxes and insurance.

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Salary: 70k, house: 450k. Down payment: 100% (parents gave me a house. Perks of being Asian)

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Definitely grateful. My parents still have their own mortgage so I wouldn't even expect this (my siblings who currently lives w/ them pays all the mortgage). They came to the US before we were born w/ nothing. Sounds like yours are the exact opposite haha. Kudos to have that.

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Location would be helpful

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Interest rates would be helpful too on when they purchased vs now. I'm debating if I need to refinance during this time.

1st house: $100k combined, $305k, $10k, FHA, $1400, $650 (PMI included) Current house: $170k combined, $630k, $125k, conventional, $2180, $700

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First house - 1) $200k combined income, 2) $405k small condo, 3) 5% down payment, 4) conventional, 5 and 6) I think $2,100 a month for all

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First condo: $50k, $100k price, 20% down, conventional, $475 monthly including escrow (30 yr), $300 association dues monthly and $100 avg. utilities. Second house: $200k combined, $450k price, 20% down conventional, $2100 monthly including escrow (30 yr), ~$250-300 for gas, electricity water and trash. In the Midwest.

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Are you using one of these as a rental?

1) 90k (170k combined) salary 2) 650k cost 3) 250k down 4) 5/1 ARM (plan to pay off before rate fluctuates) 5) $1,700 monthly, 3% rate 6) $15k property tax / $1,600 insurance Long Island, NY

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1st house, 130k combined salary, 250k house, 20% down Current house (still have 1st house): 250k combined salary, 800k house, 20% down Contemplating 3rd house: 350k combined salary, 1.6 million budget, 20% down

4 years between house 1 and 2. Been at house 2 for 3 years. Serial buyer indeed, gonna be nice rental income down the line if I can manage :) I'm in California though so at this price point, all 3 houses will be pretty modest abodes and hopefully easy to rent out.

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1st house: 1) ~80k 2) $120k 3) $0 4) FHA 5&6) $1200. 30 yr fixed 2nd house: 1) ~240k combined 2) $275k 3) $0 4) FHA 5&6) $2400 15 yr fixed

1st condo 1) 75k, 2) 175k, 3) 20% so 35k, 4) Conventional, 5) the mortgage is $637, with a $330 HOA, so 1k, 6) 75 tax and 85 for insurance monthly. South Florida

1st condo - 1) salary110k 2) price 100k 3) privately financed min 450/mo + 100 HOA

So jealous, living in NYC, even a house in the further suburbs can easily reach 800k+, if we are counting high crime areas, maybe 500-600

First house: $56k salary, home $245k, $500 down (no PMI!!), BB&T chip program for low income homebuyers, 5/1 ARM, $1033 P+I, $0 real estate taxes (abated by county - low income program). Second house: $180k salary, $650k home, 15% down, standard high balance conforming 30yr fixed, $2700, $550 taxes and insurance.

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