For homeowners...?? about yout mortgage

We are refinancing, getting a lower rate and taking some $$ out...but I'm nervous to increase the amount of our mortgage.

Anyone mind sharing what their home is worth and how much their mortgage is, or what % of the value is your mortgage?

Re: For homeowners...?? about yout mortgage

Our mortgage is about 66% of the price we bought it for. We were fortunate enough to be able to put over 33% down (thus bringing down the payments). I would say that you have to feel comfortable with the payments and what you plan to do with the money. If you are doing a renovation or addition, think of how that will increase you home's value!

Re: For homeowners...?? about yout mortgage

I don't know about %age..but we paid $128,400 for our house, it was appraised at $$134,000 before we closed and we put down 5% I think, so our mortgage is for about $123,000

Re: For homeowners...?? about yout mortgage

Our mortgage is about 55% of the value of the house. At the time of purchase it was 65%

Re: For homeowners...?? about yout mortgage

We bought our house for $240k, but our mortgage is for $190k (LOVE living in PA - houses are affordable!!) I guess about 80% of the mortgage price.

Re: For homeowners...?? about yout mortgage

Including my equity line, our mortgage(s) is 48% of the current value of the house.

Re: For homeowners...?? about yout mortgage

DH bought the house in 1998 for $150K and he put down $30K back then. Comps in the area are now selling for $450K to $475K. Ours would be on the higher end with a new kitchen and bathroom. We have a lot more equity than what we owe.

Re: For homeowners...?? about yout mortgage

I bought my home about eight years ago, and two years ago refinanced to a 15 year mortgage. I had put down 20% when I purchased, but since the price of my house has more than doubled since I bought it, my mortgage is about 30% right now.