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

[CheshireVal]

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.

It would have to be WAAAAAAY below $2000 for it to be doable for me.

 

[mallcat]

$833 a month. 3 BR, 2.5 BA, 3 acres, cape cod, detached garage, full finished daylight basement. Located in "Top of Virginia". (One hour west of DC). Good thing we built when we did. Couldn't afford the prices here now. Our house has tripled in value, which leaves us with tons of equity.

 

[lorisnuts]

$453 mortgage payment includes taxes and insurance. this is for a 1400 sq. ft 3 bedroom, 1 bath, 1 car garage, split level in town on a 50 by 150 lot. the house was bought "from the bank" the previous owners had not made payments in over 6 months and the bank was just a step away from foreclosure when we bought it. house was totally trashed. put some cash into and we were told it would now sell for over $50,000 what we paid for it. great investment for the small ohio town we live in.

 

[buddy&wooz]

We pay about $2200 including taxes and insurance on an 1800 sq foot house in NJ- but only because we bought it cheap and refinanced at 5% (15 years). Otherwise it would be WAY more.

NJ, obviously.

 

[Laurajean1014]

$2684, 15 year mortgage with taxes ($842), but not homeowners insurance.

We try to pay $3000 to make it a 10 year mortgage.

 

[kimisabella]

Our mortgage is $1700 including taxes, but, we only took a mortgage for half the amount of the house, the other half we paid cash, so it would have been much more. Our house is on the market now, so the next house we buy will have a bigger mortgage payment

 

[froglady]

We paid off the houses 5 years ago, so I spent the same amount of money monthly on DD's tuition. I would love to sell our weekend house, but DH won't hear of it. The taxes on this tiny riverfront home are the same as on our primary residence. Add on yearly insurance (both homeowners and flood) and it ends up being a big chunk of change. I would much rather spend the money on a really nice yearly vacation. (I view it as another house to clean; everyone else gets to play. )

 

[MzDiz]

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

I live in a small town in the middle of Michigan. I was watching one of those home selling shows on (I think) HGTV one night, and saw a house that was nearly identical to ours. It was somewhere in California and selling for 600k. So yeah, I'm living the Hollywood lifestyle for about 750 a month. Who knew three bedrooms and one bath was so glamourous?

 

[Mercy]

Our house payment is about $750 a month including taxes and ins. I feel pretty good after reading some of the other house payments.

 

[Jen_in_NH]

$2325, which includes property taxes, homeowner's insurance, and PMI (for a few more months). Around here, that's pretty much average house with an average mortgage.

Jen

 

[GoofyDad869]

I think we're just shy of $800/month all-inclusive. We're paying extra each month when we can, chipping away at principal $300-$500 per month when we're able. We live in E. Tenn., so land/housing costs aren't exhorbitant. We have a 2,000s.f. 3bd/2ba home with attached two-car garage on a 1/2 acre cul-de-sac lot, in a 'cookie-cutter' subdivision. We built it in 2000 with a $120K loan with a hefty down-payment (our profits from our last home sale & some savings). The house appraised at a little less than $150K last year for county tax assessment. Homes with similar cul-de-sac lots & floor plan layout in the subdivision are selling (quickly) for about that amount. Financially, a loan more than 3X what we did for this home would have been 'doable'. But we knew that this is a temporary home (we wanted to be in it 10-15 years, until the kids move on) so we wanted to get in as cheaply as we could. We've been in it for a little over 5 years.

Our ultimate goal is to purchase 2 to 5 acres (mountain view, wooded site, hopefully with a stream on-site) and build our own 2,500-3,000s.f. home. Purchasing the land is probably 3 or 4 years away, and building the home is probably 8 to 10 years away. We hadn't planned on starting a new firm in our original scheme, so we're a little behind due to that at this point. Hopefully our ownership of my firm will allow us to get ahead in the next few years. We'd like to finance as much as we can without getting a loan. We'll be mid-40s by that time, and both kids either will be out of the house or soon will be. I'll be designing it with retirement-in-place in mind, so we'll be in it for the long haul.

 

[Pooh's Pixie]

I'm still reading this thread and a bit amazed by how little people pay for their mortgages in most of the country. I know the real estate market in the Northeast (&Calif) is crazy but I didn't think it was that skewed. It's very interesting...unless people that are paying as much as me ($5000) are just not replying to the poll 'cause they are shrinking away in horror

Just FYI, it's not like we have a mansion either. We have a great old 3000 sq ft colonial on almost 2 acres, which is a ton of land around here (we're 2 miles from the city)...there is a new house down the street which was just built...definite McMansion...less land than us but huge...preconstruction price was $3 million! Yowza.

Anyway, I find this kind of fascinating...trying not to let it get depressing!

 

[punkin]

I think my mortgage is pretty huge. It is a 30 yr loan, but adjustable after the first 5 years. I pay $3180 including insurance, taxes and P&I. Blame the huge housing prices around here. I live ina 2400 sf 4BR split level that was built before I was born. Not exactly posh, but it is probably worth about $700K with the price run up in recent years.

 

[SC Minnie]

Ours is less than $1900/month all inclusive ona 15 yr mortgage. We have 2200 sq ft, over an acre less than 10 miles from downtown Charlotte. The school system here is awesome.

 

[BuckNaked]

We haven't bought yet, but are actively looking. Our mortgage payment is going to be in the $4000-$4500 range. It could fall below the $4000 mark, if we find the right house at a great price, but not likely.

 

[jimmalru80]

I have no clue. DW takes care of that. I could not come within $500 of what the mortgage payment is and I don't want to know.

 

[Toby'sFriend]

I have no clue. DW takes care of that. I could not come within $500 of what the mortgage payment is and I don't want to know.

Is that you dear?


oops wait. He lives in NJ, somebody else's

 

[jim and meesie]

I'm still reading this thread and a bit amazed by how little people pay for their mortgages in most of the country. I know the real estate market in the Northeast (&Calif) is crazy but I didn't think it was that skewed. It's very interesting...unless people that are paying as much as me ($5000) are just not replying to the poll 'cause they are shrinking away in horror

Just FYI, it's not like we have a mansion either. We have a great old 3000 sq ft colonial on almost 2 acres, which is a ton of land around here (we're 2 miles from the city)...there is a new house down the street which was just built...definite McMansion...less land than us but huge...preconstruction price was $3 million! Yowza.

Anyway, I find this kind of fascinating...trying not to let it get depressing!

We must live close by, we're 2 miles from Boston too to the Southwest! On my street they just tore down a house that the builder paid $1.25 million for. Can only imagine what they will build in it's place. Our house is a 50 year old 2600 sq. ft. (not sure where it all is cuz we never have room for storage)colonial on a quiet acre. Our land is clearly worth signicantly more than the house itself.

 

[pooh4evr]

We pay $1300 for everything - for a 2400 sqr ft 4 bed 2.5 bath with basement and 2 car garage on about 1/2 acre - about 20 min from downtown ST Louis.

 

[Rafiki Rafiki Rafiki]

2076 square feet and 8500 square foot lot. Homes your size start in the area of 1.5 million. We miss our home in Ohio, 1750 square foot, 1/4 acre(stream running through back) and $925.00 month. This was only 3 years ago. We have extensive rehab to do(plumbing, flooring, update all appliances), and plan on investing $15,000-20,000 each year for the next 3 or 4 years. We've got great weather here...but there's a heck of a price to live here!

Good grief! We have 1.5 acres too...