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Reply to "If your HHI is around $150k and you have 1-2 kids...."
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[quote=Anonymous][quote=Anonymous]How did you get a 990$ mortgage, pp??[/quote] NP here, but my mortgage is also $980/month. Bought for $250k in 2004. Put 5% down, then had two loans - one for 80% and one for 15%. Worked our butts off (two jobs each) to pay off the 15% loan in 7 years (it was a 10 year loan). We refinanced the 80% loan because it was adjustable (and it had adjusted lower a couple of times), got a 30yr fixed. Voila. PITI is less than 1k. We live in a rowhouse in a terrible neighborhood. So there are trade offs. But we're saving for college and a new car and other things, so we'll stick with the payment we've got for right now. HHI is $130k. [/quote]
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