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Real Estate
Reply to "How much house can we afford? what would the monthly mortgage payments look like?"
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[quote=Anonymous]$200k = equity in current house (need to sell it first) $2,500= current mortage payment $25k liquid cash 2 income family w/ 2 kids under age 8 Kids in public elementary school (summer camps needed though) $8,666/month = after tax take home pay (after deductions for health insurance, 401k, roth ira, regular ira, 529 plan, life insurance etc.) Looking to move up to single famly home from current TH Can we afford an $800,000 home, and if so what would our monthly mortgage payment look like? Tried the various on line calculators but not working for me (i am bad in math) Is there some formula like for every $100k of house, your monthly mortage payment goes up $x? We have good credit[/quote]
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