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Reply to "Millennial mortgage payments "
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[quote=Anonymous]OP, we are millennials and we were in your boat, so to speak, with our first house. We bought a townhouse right out of college, on the advice of our parents. We paid $300K. We didn’t have a huge down payment so we paid PMI and we rented our basement. When that house appreciates to almost $600K we sold and bought a bigger house for $950K (8 years ago}. But, this time we had a $600K down payment from the sale of our house and savings. We also refinanced early in the pandemic for just over 2% at 15 years. Our mortgage is $3500 today. We were a little lucky with timing on the original purchase and we bought our newer home pre-pandemic. Buying right out of college was the best thing we ever did, even though it was a lot of money at the time.[/quote]
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