Home onwers how much hidden costs you are paying ?

[FrontMan]

45 minutes ago, FrustratedVuncle said:

If you take mortgage loan of 100k at 7% then your monthly EMI excluding property tax and home insurance is $665.30.

property tax in Texas is approx 2.5 and home insurance approx 150/mo esko.

lets say 750k home nuvvu 20% down cheste loan amount is 562500.00 and monthly EMI - $3,742.33

property tax per month = $1562.5

home insurance per month = 150

TOTAL monthly Home payment = 5454.83 which is 50% of your 130k salary before tax. 

so 750k home is risky in your case in texas.

----------------------------------------------------------------------------------------------------

If you take 500k home at 20% down your loan amount is 400k.

Monthly emi at 7% - $2661.2

Property tax per month - 1041.6

Home insurance per month - 150

Total monthly home payment = 3852.8 which is 35.5% of your monthly salary of 130k before tax

So in my opinion you can afford 500k to 550k without risk.

Thank you sir

[PappuManolle]

3 hours ago, argadorn said:

Please encourage us @All

Ok

[PappuManolle]

2 hours ago, FrontMan said:

Itts no longer requirement but necessity ayindhi

@Sonu_Patel owns 4 houses from 2018 so ask him bro 

[FrontMan]

58 minutes ago, mamadou said:

with that salary.. if u take 550K house with current rates.. u will end up paying 50% net income every month for mortgage + taxes

I am trying hard for second job ... Hopefully soon ..but keeping first job itself has become a challenge 

[Pandubabu]

13 minutes ago, FrontMan said:

Thank you sir

130k lo taxes deduct chesthe , its more than 50% of your take home 

[FrustratedVuncle]

52 minutes ago, Shameless said:

True bro...but will wait until rates go down...usual ga lenders pampisthuntaru kadha offers...first alane refinance chesa..

rates taggithe home prices perugutai.

Rates perigithe home prices taggutai.

akkada ala balancing chestaru anthe. Ee time lo konna same ee.

But ipudu takku rate ki illu koni future lo rates tagginapudu refi cheste rach ramb untundi ani na yokka idhi.

 

[FrustratedVuncle]

3 minutes ago, Pandubabu said:

130k lo taxes deduct chesthe , its more than 50% of your take home 

general ga aa 30 - 40% of your income rule is before tax 

[Pandubabu]

Just now, FrustratedVuncle said:

general ga aa 30 - 40% of your income rule is before tax 

Okay . My mortgage is 40% after tax . Kani vattalu adhiring in this tough times ...

[Shameless]

17 minutes ago, FrustratedVuncle said:

rates taggithe home rates perugutai.

Rates perigithe home rates taggutai.

akkada ala balancing chestaru anthe. Ee time lo konna same ee.

But ipudu takku rate ki illu koni future lo rates tagginapudu refi cheste rach ramb untundi ani na yokka idhi.

 

naa house value $100K perigindhi bro maa area lo gatha 2 years lo...so I don't understand the bolded points

[FrustratedVuncle]

8 minutes ago, Shameless said:

naa house value $100K perigindhi bro maa area lo gatha 2 years lo...so I don't understand the bolded points

Your home appreciated 100k after buying. You are lucky that you are in that covid price hike ride.

The bolded are for current home prices. 

[Sonu_Patel]

1 hour ago, PappuManolle said:

@Sonu_Patel owns 4 houses from 2018 so ask him bro 

okka illu ke dikku ledu.. lawada lodhi .. anthey ley house lenollu ante chinna chupu ani @FrustratedVuncle and @perugu_vada gusa gussing.

[FrustratedVuncle]

31 minutes ago, Sonu_Patel said:

okka illu ke dikku ledu.. lawada lodhi .. anthey ley house lenollu ante chinna chupu ani @FrustratedVuncle and @perugu_vada gusa gussing.

[FrontMan]

Guys what is estimated price under the listing..the home is posted for 611,000 but true value estimator saying it is only worth 475,00 Ani !!! What to follow here ??

[Neekendukuu]

hidden costs ante PMI , property tax, HOV , insurance antha kalipi monthly payment okka 20% to 25% avvutundi

[Neekendukuu]

17 minutes ago, FrontMan said:

Guys what is estimated price under the listing..the home is posted for 611,000 but true value estimator saying it is only worth 475,00 Ani !!! What to follow here ??

estimate is zestimate aa? ee market lo kuda antha markup ekkada?