How does anyone afford their mortgage payment????

[demi]

OK, just estimates because I don't have my paperwork with me, but my house will be about

1800/month mortgage (272,000 @ 6.5 is the estimate, will likely be a lower rate)

239 Homeowners

175 Melo Roos (welcome to development in California)

60 Insurance

100 PMI

226 Taxes

Somewhere in the vicinity of 2,500 a month.  Buying by myself, and fortunately, make a decent salary.  Also, have a good car which I paid cash for (dumb, but I was afraid I wouldn't qualify for a loan at the time) using money out my old 457 account.  Only other debt will be one month overlap of my debt management plan and a 184 dollar loan from my 401k to help with the downpayment. 

SCARRY...but I know I can do. 

[Anonymous]

We bought in 1999 -

Put 40K down on a 180K House-

I am not sure I could pull off a mortgage on a 400-500K house now-

[Anonymous]

Well, I am happy that I can afford a house for 130,000!  We've worked hard to get here, and I never said it was a mansion either!  It is a very nice, modest 3 br ranch that will be a great first home for us!

I don't understand how others are able to afford a house in some other areas!  my sister lives in CA, and I don't know how she does it!

-iwannahouse

[Anonymous]

ya man , a moddest 3 br ranch is about 220k here. thats about all i can afford. its crazy though because if you bump up to about 270/300k the difference is amazing. guess its time to save.

[fishbjc]

The housing market may be less in Tennessee, but the salary's are less as well.  I live very well in Ohio, but NO WAY could we buy a house in Maryland or Cape Cod on what we earn.   Our house in Ohio would cost DOUBLE in those two areas.

We have 4100 sq ft total including game room, media room, etc.  .48/acre, new construction, cul-de-sac.  $350k total after it's completion.