Actually, your calculation isn’t exactly correct. Here it is:
$560k house
20% down = $112k
$448k financed at 5.0%, fixed for 30 years
$2,405 = monthly mortgage payment
$6,160 annual property taxes / 12 = $513.33 ($514)
Tax Rate in Sky Ranch is 1.1%!
$90 = monthly housing insurance
$0 = mello roos
$342 = monthly HOA
———————————
$3,351 = Grand Monthly Total
The commute time isn’t a killer since they recently opened up all 3 lanes going East and West over the hill and over the bridges. They did this about 2-3 months ago. They plan to put in a Fast Trak lane down the center too, over the next few years.
