[quote=PKMAN]
It looks great and at $480K is within my reach. However it’s MR is $5,400 semi-annually, with $84/mo. HOA and $9,211 of property tax. Do a quick math ($5,400×2 + $84×12 + $9,211) and I realized that I’d have to pay about $1,750 per month…before mortgage! This is too crazy.[/quote]
You did the math wrong, for three reasons.
– 5400 “semi-annually” simply means that you pay MR twice a year, but 5400 is the total annual amount.
– More importantly, 5400 figure is inaccurate. This house really comes with $4281 of mello-roos and $30 of other fixed charges, per year. Base property tax rate is 1.02923. You can always find property tax rate and fixed charges for any house you want at http://www.sdtreastax.com.
– MR is part of your property tax bill.
If you get it for 480k, your total property tax bill will be 480,000*0.0102923 + 4281 + 30 = $9,251 per year. After HOA, you will be paying $855 per month before mortgage. Your mortgage will be in 2000-2500/month range depending on down payment.
