With 10% down (at the time) and borrowing $680k and at 6% rate, payment = $4,075 + $690 tax + $260 PMI. Ouch.
The original 10% down payment is $75,500 which is about the same as a 20% ($90,000) down payment now after inflation. so if someone buying this at $450k will need to borrow $360k, and with 5% interest rate. Payment = $1933 + $415 tax = $2,348. This is less than half the previous owner payment.
Wow
[quote=taz]What’s crazy is that it ever sold for $755,000 in the first place…[/quote]
