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JennZ
MY LIFE!!
Member since 8/05 25463 total posts
Name:
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Re: Our current situation - trying to be frugal, cut costs
Oy freaking vey.
Message edited 10/29/2015 4:05:19 PM.
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Posted 10/29/15 4:02 PM  |
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cets1290
LIF Adult
Member since 6/14 1051 total posts
Name:
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Our current situation - trying to be frugal, cut costs
Why would it be $1700/month for a 180k mortgage??
Our payment is $1300/month for a loan amount of 264k. I'm not sure how it could possibly be $400 more than us, when your loan amount 80k less than us.
Message edited 10/30/2015 1:34:55 PM.
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| Posted 10/30/15 1:21 PM |
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Chai77
Brighter days ahead
Member since 4/07 7364 total posts
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Re: Our current situation - trying to be frugal, cut costs
Not again…
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| Posted 10/30/15 1:49 PM |
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Mrs&MrsK
i need sleep ;-)
Member since 2/14 2008 total posts
Name:
L
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Re: Our current situation - trying to be frugal, cut costs
omgggggggggggggggggggggggggggggggggg
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| Posted 10/30/15 2:43 PM |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Re: Our current situation - trying to be frugal, cut costs
Posted by cets1290
Why would it be $1700/month for a 180k mortgage??
Our payment is $1300/month for a loan amount of 264k. I'm not sure how it could possibly be $400 more than us, when your loan amount 80k less than us.
Are you including taxes and homeowners insurance? A $180K mtg for 30yrs at 5% interest and $7K taxes plus homeowners comes in at just about $1650/month
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| Posted 10/30/15 4:22 PM |
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MrsB12614
LIF Adult
Member since 4/14 1986 total posts
Name:
Mrs
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Re: Our current situation - trying to be frugal, cut costs
Posted by chilltocam
Posted by cets1290
Why would it be $1700/month for a 180k mortgage??
Our payment is $1300/month for a loan amount of 264k. I'm not sure how it could possibly be $400 more than us, when your loan amount 80k less than us.
Are you including taxes and homeowners insurance? A $180K mtg for 30yrs at 5% interest and $7K taxes plus homeowners comes in at just about $1650/month
I agree- no way. My loan amount is $234k- no PMI and taxes and home insurance are 7600 and 1400 respectively. My total payment is 1900. My interest rate is 3.5%
If your loan payment on just the loan itself is $1300 that makes more sense. My loan payment of principal and interest is $1060 it's everything else that's killer
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| Posted 10/30/15 4:56 PM |
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SJG23
LIF Infant
Member since 1/15 87 total posts
Name:
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Re: Our current situation - trying to be frugal, cut costs
Posted by MrsB12614
Posted by chilltocam
Posted by cets1290
Why would it be $1700/month for a 180k mortgage??
Our payment is $1300/month for a loan amount of 264k. I'm not sure how it could possibly be $400 more than us, when your loan amount 80k less than us.
Are you including taxes and homeowners insurance? A $180K mtg for 30yrs at 5% interest and $7K taxes plus homeowners comes in at just about $1650/month
I agree- no way. My loan amount is $234k- no PMI and taxes and home insurance are 7600 and 1400 respectively. My total payment is 1900. My interest rate is 3.5%
If your loan payment on just the loan itself is $1300 that makes more sense. My loan payment of principal and interest is $1060 it's everything else that's killer
1400-1500 range includes the taxes and insurance yes. Agreed. The killer is the taxes.
Can you pay taxes at the end of the year or twice a year and just keep monthly payments low by paying $1000 a month as is in our both cases?
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| Posted 10/30/15 4:59 PM |
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cets1290
LIF Adult
Member since 6/14 1051 total posts
Name:
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Re: Our current situation - trying to be frugal, cut costs
Posted by chilltocam
Posted by cets1290
Why would it be $1700/month for a 180k mortgage??
Our payment is $1300/month for a loan amount of 264k. I'm not sure how it could possibly be $400 more than us, when your loan amount 80k less than us.
Are you including taxes and homeowners insurance? A $180K mtg for 30yrs at 5% interest and $7K taxes plus homeowners comes in at just about $1650/month
yes the $1300 is the loan itself, it is $2200 with taxes. My rate was only 3.125% as well
sorry, I should have specified. I know a lot of people that do not escrow their taxes, so they aren't part of their monthly mortgage payment. Because of that, I assumed when he said $1700, he was thinking just the mortgage without taxes and homeowners
Message edited 10/30/2015 5:58:55 PM.
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| Posted 10/30/15 5:55 PM |
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Re: Our current situation - trying to be frugal, cut costs
Posted by SJG23
Posted by MrsB12614
Posted by chilltocam
Posted by cets1290
Why would it be $1700/month for a 180k mortgage??
Our payment is $1300/month for a loan amount of 264k. I'm not sure how it could possibly be $400 more than us, when your loan amount 80k less than us.
Are you including taxes and homeowners insurance? A $180K mtg for 30yrs at 5% interest and $7K taxes plus homeowners comes in at just about $1650/month
I agree- no way. My loan amount is $234k- no PMI and taxes and home insurance are 7600 and 1400 respectively. My total payment is 1900. My interest rate is 3.5%
If your loan payment on just the loan itself is $1300 that makes more sense. My loan payment of principal and interest is $1060 it's everything else that's killer
1400-1500 range includes the taxes and insurance yes. Agreed. The killer is the taxes.
Can you pay taxes at the end of the year or twice a year and just keep monthly payments low by paying $1000 a month as is in our both cases?
You would have to ask about that as many times you can just pay your taxes on your own. In my town you can pay them twice a year. No need for extra overage of escrow and the money is saved in your own savings account.
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| Posted 10/30/15 7:50 PM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: Our current situation - trying to be frugal, cut costs
Posted by TheLucille2
Posted by MichLiz213
Posted by SJG23
Retirement money: when our parents pass and we need to sell their homes. That can also be savings.
This is extremely risky to rely upon. If something happens where they wind up in a nursing home or assisted living, payment comes from their assets, which includes the house.
Exactly. Not to mention the fact that it's sh!tty of you.
 EXTREMELY SHIITTY
Why don't you just roll them into mock graves now and see how much cash poofs up when you do??
FML!! 
Message edited 10/31/2015 7:57:31 AM.
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| Posted 10/31/15 7:57 AM |
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WonderLady
LIF Infant
Member since 1/15 355 total posts
Name:
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Our current situation - trying to be frugal, cut costs
I think they can afford it. 200 down on 350. If it's like 1700 a month and they bring home 3800, what's wrong with that?
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| Posted 11/12/15 9:29 PM |
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