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Reply to "Millennial mortgage payments "
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[quote=Anonymous][quote=Anonymous]Elder Millennial. We bought a livable, but not fancy rowhouse in Burleith DC for $900K in 2017 (it was last renovated in the late 90s). Had only $100K downpayment, so we had a conforming + crappy piggyback mortgage that was around $4700/month when we bought. When rates started going up in 2018, I think our payment peaked at $4900. We’ve refinanced 3 times since then and or mortgage is now down to $3900 PITI at 2.75%. The first few years we rented out the basement and that helped a ton. We also increased our household income by about 40% since 2017. I’m glad we stretched to buy this place. Best decision ever. [/quote] How much have all those refinances cost you?[/quote]
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