What do you pay for mortgage

[Big John]

Talk to a lender and get some solid numbers.

I have a 5 bdrm 4 ba, finished basement, 3 car gar, large lot that backs on to open space, 3600 sq. ft. house.

Closing price was $328k. My interest rate is at or sub 3%???. I refi'd to a 7 year arm to get this rate. It made sense for me as I don't plan on living here past that time. I put 100k down and my payment is $1250.

The mil levy is retarded where I live so my property taxes are on the high side at $3600 per year.

I gave you all this info so that you might see that there are many variables that brings questions that nobody else can answer but the person(s) willing to provide you the loan.

[fitz19d]

Neighborhood drastically changes what 350k gets. I got far more house here in Frederick tri town area than if I went 15 miles south to Thornton. If I could, I'd still be living in Johnstown/milliken both for the more small town country feel a bit as well as cheaper houses.

A recent cnn article on overdoing mortgages was showing some guy with a 80yr old dingy shitty like condo in San Fran or Los Angeles and was like 500k???????

My house was 260k for 1598/mo with the PMI etc, little lower when we get more paid.

[crashdown]

What you pay, and get changes a lot if you know how to swing a hammer.
We have a mortgage of 900 including ins, taxes, and PMI on a 135k house.
The house is worth over 250k now. It took 2 years of working weekends and vacations, but it's a new home now.
It's the only way we could afford to live on top of a mountain with land, a shop, and a 3 bed, 2 bath home.
I can't imagine ever buying a home and taking a chance it could be worth less later because I bought something move in ready.

[Irving]

Looks like I'm right on the cusp of being able to afford way more house than I have. That's a nice feeling.

[MED]

In town what Stenz said. We debated getting a bigger house but having to live in town and close proximity to others. Instead 350 got me a little over 2 acres and a place just under 2k sq ft but privacy that couldn't be had in town on my budget.

Yep, pluses and minus to living up here, but no debate over the metro area; I absolutely hate it down there. My house appraises right around 350K. I have five acres of A2 horse property, 5 bedrooms, 3 baths, and a 750 sq ft shop with about 500 sq ft of loft space. My monthly payment is just shy of 2K.

What you pay, and get changes a lot if you know how to swing a hammer.
We have a mortgage of 900 including ins, taxes, and PMI on a 135k house.
The house is worth over 250k now. It took 2 years of working weekends and vacations, but it's a new home now.
It's the only way we could afford to live on top of a mountain with land, a shop, and a 3 bed, 2 bath home.
I can't imagine ever buying a home and taking a chance it could be worth less later because I bought something move in ready.

I did a lot of that to originally get me into my house.

[Bailey Guns]

I know this might be a personal question so if it is don't answer.

I'm considering looking at moving and getting a new house. For those of you who are paying a $350,000 mortgage what are you paying? I know it depends on location, down payment, interest rate, etc...

I just want approximate real life numbers and not what some website tells me. I need to know Colorado numbers. Also, if you can tell me if that includes mortgage insurance that would be great.

Thanks!

An online mortgage calculator should pretty much tell you exactly what your payment will be if you know all the variables such as amount of loan, int rate, taxes and insurance. It's always going to vary a small amount because things change such as the daily interest amount and so forth. We're going through a re-fi right now and the online calculators I used were all within a few dollars of what the lender quoted me.

I think you're only required to pay mortgage insurance if you have less than 20% to put down and on certain types of loans (I think VA loans are exempt from this requirement, for example).

[Irving]

I think you're only required to pay mortgage insurance if you have less than 20% to put down and on certain types of loans (I think VA loans are exempt from this requirement, for example).

FHA loans you pay mortgage insurance forever, period. As it was explained to me anyway. For that reason, I'm currently refinancing into a conventional loan right now. Just waiting for the guy to call me back.

[Dave_L]

Yeah, it used to be you'd only pay PMI until the loan balance was 20% under the value of the home. Now, it's on there for the life of the loan until you refi.

[Irving]

Even with the mortgage insurance I'm about a year ahead and paying at a rate of something like 16 years on my 30 year mortgage. I'm excited to refi. My friend lives up the street in the exact same floor plan as my home, only I have a garage and a family room that were added later. He just had his house appraised at $35k more than I paid for mine. His is a little nicer currently though.

[newracer]

Curious, what exactly does one get for $350K on average? I'm guessing that's allowing room for a family of 4 minimum.

You've been by my house, it was $354,000 when we bought it last year.

Total Square Feet: 4,320
Finished Square Feet: 2,570
Upper Level Square Feet: 820
Main Level Square Feet: 1,750
Basement Square Feet: 1,750

Car Spaces: 3
Garage Type: Attached

Beds: 4
Baths: 3
Full Baths: 2
1/2 Baths: 1