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...
Btw, I don't own house. Just giving a general idea of the "numbers." It's hard to ignore the actual price of the home. But, when it comes to NJ, you gotta see what it is in terms of monthly paym...
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