- This topic has 90 replies, 10 voices, and was last updated 15 years, 10 months ago by
temeculaguy.
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January 23, 2009 at 11:44 AM #14890January 23, 2009 at 12:12 PM #334055
4plexowner
Participantmarket won’t bottom before 2010 at earliest – are you really looking that far in advance or are you just trying to justify making a purchase that you are going to make anyway?
human beings are not rational – they are rationalIZING
January 23, 2009 at 12:12 PM #334585Participantmarket won’t bottom before 2010 at earliest – are you really looking that far in advance or are you just trying to justify making a purchase that you are going to make anyway?
human beings are not rational – they are rationalIZING
January 23, 2009 at 12:12 PM #334499Participantmarket won’t bottom before 2010 at earliest – are you really looking that far in advance or are you just trying to justify making a purchase that you are going to make anyway?
human beings are not rational – they are rationalIZING
January 23, 2009 at 12:12 PM #334472Participantmarket won’t bottom before 2010 at earliest – are you really looking that far in advance or are you just trying to justify making a purchase that you are going to make anyway?
human beings are not rational – they are rationalIZING
January 23, 2009 at 12:12 PM #334388Participantmarket won’t bottom before 2010 at earliest – are you really looking that far in advance or are you just trying to justify making a purchase that you are going to make anyway?
human beings are not rational – they are rationalIZING
January 23, 2009 at 12:14 PM #334590Blissful Ignoramus
ParticipantI’m not sure what you mean by “~250K at most”.
If you use a mortgage calculator, a 6.5% fixed 30 yr mortgage for 180K (300K house minus 120K downpayment) with 1% property tax ends up at a montly payment of $1362. Add insurance and HOA and Mello Roos to that depending on what you buy. A 5% interest rate starts you off at $1191 principal + interest + tax.
$2000 is about 32% of your gross monthly income, which is what many consider to be a maximum amount. 25% puts you at $1562. So yeah, $300K seems reasonably affordable if you find a place with no or low extras, particularly if you have all of your ducks in a row (sounds like you do) and reasonable potential for income growth.
Good luck to you and your family.
January 23, 2009 at 12:14 PM #334504ParticipantI’m not sure what you mean by “~250K at most”.
If you use a mortgage calculator, a 6.5% fixed 30 yr mortgage for 180K (300K house minus 120K downpayment) with 1% property tax ends up at a montly payment of $1362. Add insurance and HOA and Mello Roos to that depending on what you buy. A 5% interest rate starts you off at $1191 principal + interest + tax.
$2000 is about 32% of your gross monthly income, which is what many consider to be a maximum amount. 25% puts you at $1562. So yeah, $300K seems reasonably affordable if you find a place with no or low extras, particularly if you have all of your ducks in a row (sounds like you do) and reasonable potential for income growth.
Good luck to you and your family.
January 23, 2009 at 12:14 PM #334060ParticipantI’m not sure what you mean by “~250K at most”.
If you use a mortgage calculator, a 6.5% fixed 30 yr mortgage for 180K (300K house minus 120K downpayment) with 1% property tax ends up at a montly payment of $1362. Add insurance and HOA and Mello Roos to that depending on what you buy. A 5% interest rate starts you off at $1191 principal + interest + tax.
$2000 is about 32% of your gross monthly income, which is what many consider to be a maximum amount. 25% puts you at $1562. So yeah, $300K seems reasonably affordable if you find a place with no or low extras, particularly if you have all of your ducks in a row (sounds like you do) and reasonable potential for income growth.
Good luck to you and your family.
January 23, 2009 at 12:14 PM #334393ParticipantI’m not sure what you mean by “~250K at most”.
If you use a mortgage calculator, a 6.5% fixed 30 yr mortgage for 180K (300K house minus 120K downpayment) with 1% property tax ends up at a montly payment of $1362. Add insurance and HOA and Mello Roos to that depending on what you buy. A 5% interest rate starts you off at $1191 principal + interest + tax.
$2000 is about 32% of your gross monthly income, which is what many consider to be a maximum amount. 25% puts you at $1562. So yeah, $300K seems reasonably affordable if you find a place with no or low extras, particularly if you have all of your ducks in a row (sounds like you do) and reasonable potential for income growth.
Good luck to you and your family.
January 23, 2009 at 12:14 PM #334477ParticipantI’m not sure what you mean by “~250K at most”.
If you use a mortgage calculator, a 6.5% fixed 30 yr mortgage for 180K (300K house minus 120K downpayment) with 1% property tax ends up at a montly payment of $1362. Add insurance and HOA and Mello Roos to that depending on what you buy. A 5% interest rate starts you off at $1191 principal + interest + tax.
$2000 is about 32% of your gross monthly income, which is what many consider to be a maximum amount. 25% puts you at $1562. So yeah, $300K seems reasonably affordable if you find a place with no or low extras, particularly if you have all of your ducks in a row (sounds like you do) and reasonable potential for income growth.
Good luck to you and your family.
January 23, 2009 at 12:27 PM #334610paramount
ParticipantWelcome to Temecula….
January 23, 2009 at 12:27 PM #334524ParticipantWelcome to Temecula….
January 23, 2009 at 12:27 PM #334496ParticipantWelcome to Temecula….
January 23, 2009 at 12:27 PM #334413ParticipantWelcome to Temecula….
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