30 years Mortgage with 7.5% APR for 850k home

[Thantrik]

On 8/28/2023 at 4:25 PM, Sonu_Patel said:

Home Value: $850K

Down Payment: 5% ($42,500)

Interest rate: 7.5%

PMI: 336

Property Tax(~1%): $8500

Home Insurance: $2500

HOA: $100

Total Monthly Payment: $6999 ( Principal: $599 + Interest: $5046 + Taxes and escrow: $1350)

Am i missing something ? mana New home telugu tejalu every month $5000 paying towards interest aa ?

 

 

e lekkana chusthe both husband & wife takkuvalo takkuva take home per month oka 15k undali 7k just payment ki pothe.. ante 180k per annum before tax 300k(H 180- W 120) salaries, not bad gattiga ne vesthunnaru aithe ila 30 yrs ante,  @age 30 lo konna 60 varaku same pattern of life amaina vomerica manchi paisal desham evadni ela vadukovalo baaga telusu 

[lollilolli2020]

On 8/28/2023 at 6:11 PM, karna11 said:

Some items missing in your calculation. Disco waste

Heating, water, sewage garbage anni include chesukovatam ledu ane kada because certain things you wouldn't care if you are renting things like water, sewage and garbage which is included in the rent. 

[mettastar]

On 8/28/2023 at 9:05 PM, Gorantlamdhav said:

Wrong imagination 

Home Value: $850K

Down Payment: 20% 170k

Interest rate: 3y arm 5.8

PMI: 0

Property Tax(~1%): $8500

Home Insurance: $2500

HOA: $100

Total Monthly Payment: $5150 ( Principal: $599 + Interest: $3200+ Taxes and escrow: $1350)

 

Austin lo manchi school districts lo 2500-3000 ki manchi illulu rent ki vasthunayi .. aa interest ki pettedanikante thakkuvalo rent ki theesukovachu almost similar home.. and e 3yrs lo home values pedha appraise emi avvavu .. 

So renting is best in this market .. less headache

[mettastar]

$1M home sign chesadu colleague 🫡 5k sft

 

 

[Ravi860]

Just now, mettastar said:

$1M home sign chesadu colleague 🫡 5k sft

 

 

5k sft.. vari polam emanna vestunnada intlo

[kittu_123]

1 hour ago, Thantrik said:

e lekkana chusthe both husband & wife takkuvalo takkuva take home per month oka 15k undali 7k just payment ki pothe.. ante 180k per annum before tax 300k(H 180- W 120) salaries, not bad gattiga ne vesthunnaru aithe ila 30 yrs ante,  @age 30 lo konna 60 varaku same pattern of life amaina vomerica manchi paisal desham evadni ela vadukovalo baaga telusu 

bay area and east bay surroundings(up to 100 miles) lo 300K family income easy peasy. 

Single earner e earn chestunaru above 170K-200K and inka stocks + bonus etc etc. Not all of them though but majority who are doing FTE.

Iddaru working aite they started buying investment homes.

[mettastar]

17 minutes ago, Ravi860 said:

5k sft.. vari polam emanna vestunnada intlo

E interest rates tho entha dairyam ga sign chesado ..

I was calculating for 700k home after 20% down with 7 or 7.5 apr .. we end up paying $300k towards interest by end of 2030 😝

 

[Ravi860]

3 minutes ago, mettastar said:

E interest rates tho entha dairyam ga sign chesado ..

I was calculating for 700k home after 20% down with 7 or 7.5 apr .. we end up paying $300k towards interest by end of 2030 😝

 

Refinance hopes for everyone 

[Variety_Pullayya]

24 minutes ago, mettastar said:

Austin lo manchi school districts lo 2500-3000 ki manchi illulu rent ki vasthunayi .. aa interest ki pettedanikante thakkuvalo rent ki theesukovachu almost similar home.. and e 3yrs lo home values pedha appraise emi avvavu .. 

So renting is best in this market .. less headache

initial payments lo principal amount low lo untundi...keeps increasing over time. cant compare it directly

[Variety_Pullayya]

4 minutes ago, mettastar said:

E interest rates tho entha dairyam ga sign chesado ..

I was calculating for 700k home after 20% down with 7 or 7.5 apr .. we end up paying $300k towards interest by end of 2030 😝

 

refinance chestharu le. and most ppl pay it off early too if the interest rate is too high

[Gorantlamdhav]

5 hours ago, mettastar said:

Austin lo manchi school districts lo 2500-3000 ki manchi illulu rent ki vasthunayi .. aa interest ki pettedanikante thakkuvalo rent ki theesukovachu almost similar home.. and e 3yrs lo home values pedha appraise emi avvavu .. 

So renting is best in this market .. less headache

Yeah it’s all about peer pressure 

[anna_gari_maata]

On 8/28/2023 at 4:43 PM, veerigadu said:

Anna first 17 years lo interest ekkuva. Tharvatha principal ekkuvaaa. I thought you knew how amortization  works. 

 

It matter only while selling... lekapothe monthly mortgage still same

[Hyper]

On 9/7/2023 at 1:38 PM, mettastar said:

Austin lo manchi school districts lo 2500-3000 ki manchi illulu rent ki vasthunayi .. aa interest ki pettedanikante thakkuvalo rent ki theesukovachu almost similar home.. and e 3yrs lo home values pedha appraise emi avvavu .. 

So renting is best in this market .. less headache

eela chepi....nuvu oka 2-3 homes back ki vedham ani plan ee kadha 

[AFDB_Director]

I am closing $600k home. $250k down, 6.5% Interest. $15k property taxes. EMI would be $3500 + HOA and utilities. $350k gross household. Planning to pay it off in next 3 years. 

[Joker_007]

On 8/28/2023 at 1:43 PM, veerigadu said:

Anna first 17 years lo interest ekkuva. Tharvatha principal ekkuvaaa. I thought you knew how amortization  works. 

Ivaani evaru calculations chestunnaru vaa.. Status kosam kontunnaru..