(Closed) What amount mortgage do you have?

posted 6 years ago in Home
  • poll: How much total do you owe your mortgage ?
    Under 100,000 : (26 votes)
    15 %
    100,001 - 150,000 : (33 votes)
    19 %
    150,001 - 200,000 : (27 votes)
    15 %
    200,001 - 250,000 : (25 votes)
    14 %
    250,001 - 300,000 : (8 votes)
    4 %
    300,001 - 350,000 : (10 votes)
    6 %
    350,001 - 375,000 : (4 votes)
    2 %
    375,001 - 400,000 : (4 votes)
    2 %
    400,001 - 450,000 : (5 votes)
    3 %
  • Post # 3
    Member
    315 posts
    Helper bee
    • Wedding: June 1997

    @KatieKitKat:  Ours was fixed 30 year mortgage. We wanted a set mortgage payment. Its been 10 years and we have always paid a little extra. Because of that we have lowered our payments by almost $200.

    Post # 4
    Member
    1271 posts
    Bumble bee
    • Wedding: June 2012

    I refinanced in 2001 with a fixed 20 year.  Mine will be paid off in nine years!!!  Yippeeeee

    Post # 5
    Hostess
    18643 posts
    Honey Beekeeper
    • Wedding: June 2009

    We got a $180k loan in December for 3.25% fixed for 15 years.  Not too bad in my opinion.

    Post # 6
    Member
    4693 posts
    Honey bee
    • Wedding: October 2013

    I owe about $53,000 on my mortgage. I bought a condo 3 years ago with a 30yr fixed.

    Post # 7
    Member
    4755 posts
    Honey bee
    • Wedding: May 2012

    wow everything is soooo cheap in the US. We have 375K for a 850 ft condo in Vancouver, and that is considered a “good deal”

    Post # 8
    Member
    2416 posts
    Buzzing bee
    • Wedding: September 2012

    Wow…I wish I could buy a home for some of these prices I see on House Hunters…in the Boston area you really can’t get much for less than $350k…and that will be a fixer-upper most likely! We plan to spend around $350-$450k on our first home in the next couple of years…

    Post # 9
    Member
    2233 posts
    Buzzing bee
    • Wedding: September 2012

    @RevMic:  & @MrsLulu:  Fixed 20 and 30 year mortgages?? Canadian banks offer 25 and 30 year amortizations but terms are typically 4 or 5 years.

     

    Post # 10
    Member
    7293 posts
    Busy Beekeeper
    • Wedding: October 2011

    Vmec- I think in perspective though, aren’t your salary levels higher? Don’t teachers make like 80 grand lol ?

    We have no mortgage ๐Ÿ˜‰ We paid upfront in cash.

    Post # 11
    Member
    1271 posts
    Bumble bee
    • Wedding: June 2012

    @Ms. Martian:  In the US, you traditionall can get a 10, 15, 20 or 30 year mortgage.  Before the housing market burst in 2008, you could get 40 year fixed mortgages (but they weren’t easy to come by).  While there are balloon payment mortgages like you describe, they are not advisable in comparison to long-term fixed. ๐Ÿ™‚

    Post # 12
    Member
    1271 posts
    Bumble bee
    • Wedding: June 2012

    Housing prices in the US vary GREATLY depending on location.  I’m in Southern California…and prices are much higher than just about anywhere else (besides New York)

    Post # 13
    Member
    1577 posts
    Bumble bee
    • Wedding: September 2012

    Only 3 years left to go on our mortgage!  *celebrates*

    But we’ll probably increase our payments and try to get it out of the way in 2 years, so we can buy a cottage

    Post # 13
    Member
    5984 posts
    Bee Keeper
    • Wedding: June 2010

    We have a mortgage for a home in Southern Indiana that was for $70,000, fixed 4 % interest for 15 years. We are getting ready to purchase another home in Chicago with a $85,000 mortgage 4% interest fixed for 30 years. Same size homes! ๐Ÿ˜€

    Our homes are worth much more but we put down a “large” down payment

    Post # 15
    Member
    1949 posts
    Buzzing bee
    • Wedding: August 2011

    I live on the eastcoast of Canada. I bought a mini home 4 years ago on a variable rate of prime -.06%. My payments always are the same but the % that goes on the principle varies with the rate. I,ve never paidmore than 3% interest. My balance is just over $50,000. I went with a 25 year mortgage with a 5 year amortization. It’s up for renewal next year, but I doubt I’ll ever get a better year. Because of my variable rate, my mortgage will be paidoff in like 11 years rather than 21 ๐Ÿ™‚

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