How much is your mortgage payment? (inspired by car payment thread)

[stemikger]

I pay $980 for everything (I have 14 years left on my loan). I bought when the market was at its lowest 13 years ago. I paid $143,000 for my house back then.

I live in a 2200 sq. ft. townhome and my neighbor just sold her's for over $400,000 and the new neighbor is paying over $2,000 for the same house I live in.

Timing is everything in real estate. I live in New York and the real estate has gone crazy in this area.

I feel for the young couples just starting out.

 

[lulubelle]

$2,600 a month - 15 year loan. And we put down over $150K from the sale of our last house. Real estate around here is OUT OF CONTROL!!!

 

[KelNottAt]

$3,066 PITI. It's 3,800 square feet on an acre.

We refied last month to get cash-out for building an additon (+1,200 sq ft.) This new loan is 20 years, so our pay-off will coincide with the end of the original 30 year term. It's a lot of money, but I take consolation in knowing that even with the new larger loan, we still have 50% equity.

Prior to the refi, our monthly total was $1,725.

 

[we3disneygo]

we have a 2 bedroom, 1 bath ranch, double lot. we pay 562.00 including taxes, we are a 1 income family.

 

[Nickimouse]

We pay $668, taxes and Insurance included.

 

[drakethib]

$870 not including PMI or Property Taxes. Add PMI (we are past the PMI stage) & Taxes it goes to about $1500.

We were able to buy our house at a fire sale price is why it is so cheap.

 

[MommyPoppins]

Well ours has been $370 inncluding taxes and insurance, but we just sold and house, with the real estate boom thats been going on here the last few years when our new house is built our mortgage will be in the 1000-1500 range, a good chunk of that being taxes and insurance. Insurance is killer in Southwest Florida.

 

[dvcgirl]

No mortgage. But between taxes, insurance, HOA, termite bond and all of the other little "must haves" with this house, we pay out about $1,800 a month. Houses are still liabilities....even when they are 100% paid off....

 

[taximomfor4]

$902.00 including everything. I can't imagine having to come up with some of those huge mortage payments. I make just under $100K and can't think how I would stretch my take home pay to cover the larger payments. But maybe it's because I'm a single Dad and you guys have double incomes.

Maybe. Bur our double income has never topped 52,000 (dh is a public school teacher, and I was working in a decent-paying customer service job.) Our payment all-inclusive (property tax, insurance, etc) is 1148. We will also be looking to move in about 2 years, I wish we could sooner but I am now in nursing school. Oh, the house is 1300 sq ft.

Beth

 

[becka]

Ours is right around $940 for mortgage, insurance and taxes. I cannot fathom paying what some of you are paying. It kills me to think that our next house will more than likely have a 1000+ mortgage. Guess I am just cheap....

Actually my daycare expenses outweigh my mortgage (~ 1500/month). Maybe we should just live there....

 

[brerrabbit]

Our P&I is only $618/mo. The killer is the taxes $400 a month and insurance of $113 a month. We escrow our own taxes and insurance so we only pay the $618 monthly. It's a 2900 sq ft home with pool and four car garage that we built in 1993. With the way our taxes go up every year its only going to get worse.

 

[Bob Slydell]

Actually my daycare expenses outweigh my mortgage (~ 1500/month). Maybe we should just live there....

I hear ya We pay like $1400 to the boys school for pre-K and infant care and something like $1800 for our mortgage, everything except for insurance, which we pay separately.

 

[mickeyfan2]

I hear ya We pay like $1400 to the boys school for pre-K and infant care and something like $1800 for our mortgage, everything except for insurance, which we pay separately.

But yesterday you said "$0 -- we paid cash for our house".

 

[Bob Slydell]

But yesterday you said "$0 -- we paid cash for our house".

Pssstt -- I lied

 

[luvwinnie]

501-1000???? I can't believe how many checked that.

 

[mickeyfan2]

501-1000???? I can't believe how many checked that.

I guess it is because there are places in the US (not the NE or NJ, CA etc.) where housing is still affordable. I know somebody in NJ who had a 3500 mortgage payment.

I am proud to see that about 9% of DIS responding own their house and that most have a payment below $2000, which is doable.

 

[dvcgirl]

501-1000???? I can't believe how many checked that.

Well, it says that you're from Bergen County...and so I can understand why this baffles you...lol! It is an interesting poll though....nearly half of all the responses are in the $500-$1500 range. We must have a lot of renters from the NorthEast and California on this board . Or...people who bought their homes ten years ago....

 

[Jennasis]

The mortgage is $3400 for our 3bed/2bath 1900s/f house on 23 1/4 acres. But there are two barns, an indoor riding arena, three large storage buildings etc...It's a 15 yr mortgage. This doesn't included taxes ($1600/yr or PMI).

 

[dcgrumpy]

I guess it is because there are places in the US (not the NE or NJ, CA etc.) where housing is still affordable. I know somebody in NJ who had a 3500 mortgage payment.

I am proud to see that about 9% of DIS responding own their house and that most have a payment below $2000, which is doable.

How do you know what's "doable" for eberyone else?

 

[Toby'sFriend]

I am proud to see that about 9% of DIS responding own their house and that most have a payment below $2000, which is doable.

well, thanks for being proud of me!

However, my mortgage payment is actually kind of high for Middle America.