What would be a monthly mortgage payment of $ 60,000 on his house?

In: Home Insurance

19 Jul 2010




My fiance and I try to see whether it would be cheaper to rent an apartment or just buy a house .. and we found a good way to be $ 60,000, how much would it per month?

There are calculators Nice on most sites of this agency online and many other places.
As a rule of thumb you can afford to buy houses cost 2.5 times annual income.
You can use a quarter of the monthly income on housing, pay no more than one third with utilities thrown in.
Your monthly costs PITI (principal of the mortgage, interest, taxes, insurance) and utilities, upkeep, maintenance, HOA, etc.

It depends on how you ask, and the interest rate, the monthly payments. From less than 20% means that you have the additional cost of PMI. FHA requires a minimum of 3.5 to 5% down and conventional 10-20% down required. The less you ask, the more you pay for your house over time, in the interest of a multiple of the cost of the house.

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2 Responses to What would be a monthly mortgage payment of $ 60,000 on his house?

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