Post # 1
We are meeting up and signing for our loan tomorrow monring and our home inspection is on Thursday. I guess I’m just starting to freak out, its scary!
If all goes well with the inspection our purchase price is $210,000 for a 4 bedroom 3 1/2 bath with 2900 sq feet, the house was built in 1986, on .94 acre, we only have 10% down and our monthly mortgage payment is $1,382 and includes tax and insurance with a 3.25% interest rate. This is our first home.
If the inspection or appraisal doesn’t go as planned we may be able to get the home at a cheaper price, right now the appraisal as per the sellers is $225,000.
So what are my other fellow bees paying with some stat info on your home like size et?
Post # 4
@mishagirls79: we just moved into our 2100 sq, 4br, 3bath house 3 weeks ago. It was custome built, and with out upgrades we probably paid just under $250,000. Assessed value will likely be around 265-270,000.
Our mortgage rate is 3.09% and we had 12% Down. Our payment is $471/bi weekly, so less Han $1000/month
Post # 5
We only put 3% down on our house. We were prepared to do 12%, but opted to keep that for savings. Bought the house in Feb 2012 for $185,000, 2400 sq ft, updated kitchen, fully finished basement. 3 bedrooms, 2 baths. Built in the 1940s. On 1.5 acres. Our mortgage is $1400.
Post # 6
@anotherbee: you got a great rate and your taxes must be low where you live!
Our taxes are crazy out here!
Post # 7
Ummm, I guess I need to move out of SF and buy! Informative thread.
Post # 8
the houses we are looking at will put us between 2400 – 2800 most likely everything included. trying not to go over that so we can afford to live on one salary if need be.
Post # 9
- Wedding: May 2014 - Paradise Gardens
I’ll better know in approx 3-5 days when we get our updated GFE. The current one says around $1500.
Post # 10
@mishagirls79: yes, I’m super pumped about our rate. My apologies though, I forgot to include taxes, as they aren’t rolled into our mortgage. I’m expecting around another $250/mth for taxes. So that’s just over $1200/mth
Post # 11
Im way too lazy to do the math. We pay $335 a week and insurance is $55 a month. $220000 was what we borrowed
Post # 12
We are living in the first home I purchased at 21. It’s a 2 bdrm, 1 bath, full unfinished basement, 1100 sq ft. TINY lot. It was built in 1879! With taxes and insurance our mortgage is only $440. BUT starting next month it’s going on the market and we will begin the search for our forever home 🙂 Congrats on your first home purchase 🙂
Post # 13
@mishagirls79: our mortgages are less than $50 difference. My house is only 1200sqft tho.
Post # 14
Ours is about 2300 a month with everything 🙁 the joys of living in CT.. 2000 sq feet, built in the 1970’s. bought for about 350k
Post # 15
my condo is 1200 square feet, 2br/2ba and is $1500.
where I live with FI is an attached house (fancy townhouse), 4 levels, 3 bd/2.5ba with a loft. It’s around $2800.
We live in a suburn of DC so everything is CRAZY expensive
Post # 16
We haven’t bought yet, but where we live in NYC area, a very small two bedroom condo with parking could be anywhere from $580,000-$700,000 (obviously, it could be more, but that would be in a fancier building with a doorman, more amenities, etc.). Then, taxes might be anywhere from $8,000-$13,000 a year, and monthly fees for the condo are anywhere from $350-$700 a month (that includes the parking, which is never free here….gym if there is one, building insurance and maintenance, etc.).
So with a 20% downpayment of $150,000-$200,000, your monthly payment with tax and building maintenance fees would be from $2900 on the lowest end to $4000 on the high end. For a 2 bedroom, 1100-1250 sq foot place.
Yup, talk about expensive!