I looked at my dream house on my fridge again


Let’s use Dave Ramsey’s official calculator to see if I could buy it yet.

Your mortgage payment should be no more than $1,955, and your total mortgage amount should be no more than $264,301

At an interest rate of 4% on a 15-year fixed mortgage, you can afford a:

  • $293,667 home with 10% down ($29,367)
  • $330,376 home with 20% down ($66,075)
  • $377,572 home with 30% down ($113,272)
  • $440,501 home with 40% down ($176,200)

I would need a $335k down payment, which is basically my net worth.  And that’s assuming no taxes… and Zillow thinks the house is worth $825k now… so… bleh.  On the one hand, it would’ve been a great buy.  On the other… I’m in a much less risky position… and much better able to save up living expenses to start a business which could be the big money win.

Oh, and just for fun let’s look at the monthly taxes for an $825k place.  $860 a month.  So even if I could pay for it, it’s at least $1200 in monthly fixed costs… and that’s not even thinking about maintenance.  Bleh.


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