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Real Estate
Reply to "7K Mortgage on a HHI of 500k"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you earn $500k I don't think you need to be getting financial advice from an anonymous message board. That said, how are you getting a $7k mortgage payment on a $1.2 home (unless you're including taxes and insurance)? That's just not possible if you're paying 20% down. If you haven't saved enough for a 20% down payment on your HHI then I'm skeptical you should be making such a large financial commitment.[/quote] We are putting down 115k or so as we also just paid for a wedding and our honeymoon costs.[/quote] Then you're crazy for wanting to buy now. You're looking at total monthly payments of $8-8500. With that income and no kids you can easily live frugally for a couple years and be in a much better position to buy, no matter what happens with prices and interest rates.[/quote] This. What’s the rush? [/quote]
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