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Reply to "If your HHI is 400k what is your monthly mortgage?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Too many low mortgages here. Good for you. [/quote] I think no one mentions that they put $500,000 + down and refinanced during the pandemic.[/quote] You don't need to live in a $1m house. Where do you think the vast majority of people, who cannot afford a $4000/month mortgage, live? Do you drive outside of NW DC or Chevy Chase?[/quote] 90s SFH cost $1M in Howard County now. If you want functioning public schools and a SFH and drive less than hour to DC, $1M is price of admission. Sure you can maybe find a 1300 brick rambler from the 30s in original condition in Silver Spring for $500k — but long term maintenance will kill you and you have slower appreciation because of lower performing schools — you are paying $500k for a lot essentially at that point in the houses lifetime. [/quote]
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