30 years Mortgage with 7.5% APR for 850k home

[hunkyfunky2]

On 8/28/2023 at 4:26 PM, psycopk said:

Yea patela.. property tax 20k esko

For Texas 

On 8/28/2023 at 4:44 PM, Sonu_Patel said:

If someone wait to refinance for 2 years.. 24 months times $5K each month equals to $120K anna... 

ah tarvatha refinance cheyincha peddaga emi upayogam.

Exactly.... well said @Sonu_Patel I hope all understand this, people are assuming interest rates will come down. Even if they will, they won't go down to 2.5%... min 4 % after 3 years. 

You already paid 200k by that time

[BlacksAbs]

Wow, a 30-year mortgage on an $850k home with a 7.5% APR sounds like a big commitment! It's essential to carefully consider your financial goals and budget before diving in.  Speaking of which, if anyone's looking for an investment opportunity in real estate, especially in Kingston, Queens student rentals can be a great option. They have a fantastic reputation in the area and can offer a steady income stream.

[beerboy17]

On 9/16/2023 at 1:20 AM, AFDB_Director said:

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. 

$350k gross household aa good bro.. ne sal entha bro ..?

[mettastar]

3 minutes ago, beerboy17 said:

$350k gross household aa good bro.. ne sal entha bro ..?

Two salaries 175k each .. easy to achieve kada bro

[AFDB_Director]

9 minutes ago, beerboy17 said:

$350k gross household aa good bro.. ne sal entha bro ..?

Dual income 

[gogogreatnick]

Congrats on considering your options for a home mortgage! A 30-year term at 7.5% APR for an $850k home is a big decision, and it's great that you're doing your research. When diving into mortgages, it's crucial to explore local expertise. I recently got some fantastic advice from Mortgage Advice Coventry - their team really took the time to understand my unique situation. Their insights on rates and terms were invaluable, making the process smoother.

[krishnaaa]

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 ?

 

 

Multiple jobs and keeping up with jonuses effect.