we're gonna start building our new house in March....we have the land picked out...here are the blueprints for the house i want... http://www.eplans.com/house-plans.hwx/Q/Plan.HWEPL02586?searchId=1...
haha, oh absolutely, around here most newlyweds are able to buy a house right off the bat, that doesnt happen too often in NJ/NY.
Newlyweds...Try people who even make decent salaries. If you didn't buy a house before the late 90's in this area, you are screwed. I make more than twice as much I did in 1999 and I was in a bet...
Because say it's 5% down and a 7% rate over 30 years. It'll be about 1900 a month for a 300k house. Less than that per month, if more money down, which will also mean a better rate. I'm just giv...
I didn't factor that in, because I'm not a mortgage broker and there's so many different scenerios and mortgage programs, such as getting 2 different loans, etc. Just gave the base numbers, 'cause I don't even know what taxes are up there. But, it can be bought for around 2000 a month, not including PMI and taxes.
this is in hackettstown, which has lower taxes than most surrounding areas:
Purchase Price: $300,000.00
Rate: 6.00%
Term: 30 Years
Down Payment: $0.00
Yearly Taxes: $4,800.00
Yearly Insurance: $720.00
Income Required (33% Ratio): $82,132.73
Income Required (36% Ratio): $75,288.33
Monthly Payment: $2,258.65
add PMI in there (if you can't get a good First Time Home Buyer mortgage, and it's even worse)
renting is so much cheaper. :(
i'm sorry, that was 0% down, and 6% interest.
here's 5% down, and 7% interest
Purchase Price: $300,000.00
Rate: 7.00%
Term: 30 Years
Down Payment: $15,000.00
Yearly Taxes: $4,800.00
Yearly Insurance: $720.00
Income Required (33% Ratio): $85,676.73
Income Required (36% Ratio): $78,537.00
Monthly Payment: $2,356.11
What about 10% down?
if you're putting 10% down, that means you've been saving, so you probably have pretty good credit. so i figured in a 6% interest rate
Purchase Price: $300,000.00
Rate: 6.00%
Term: 30 Years
Down Payment: $30,000.00
Yearly Taxes: $4,800.00
Yearly Insurance: $720.00
Income Required (33% Ratio): $75,592.36
Income Required (36% Ratio): $69,293.00
Monthly Payment: $2,078.79
getting better!
That's the thing, getting the right mortgage program.. as well as moving out of Hackettstown (and buying the house through me and my mortgage brokers). haha