$85k down payment. $340k mortgage. Assume 25% tax bracket
Assuming 30 years at 3.5%.
Monthly Payment: $1527 – $250 writeoff.
Monthly Property Tax: $312
Monthly Insurance: $120
Monthly maintenance: $354
This is split between two earners, so that helps a lot.
Okay let’s look at the 15 year scenario. 2.75% Interest.
$2307 payment. ($779 interest, $1528 principal).
$2307 – $195 writeoff + $312 + $120 + $354 = $2898.
What kind of take home pay would we need for this to match Dave Ramsey’s advice?
$11,592 in take home pay. Between two people. $5796 per person. Each person needs to earn about $105k in GA. What do they likely earn? They’re both engineers. It’s definitely possible that they’re making enough to follow the Ramsey plan w/ this house. Need to make sure to keep savings to cover the monthly payment in case of job loss…
And then a completely different friend posted another picture – they also bought a house. Lawyers :-P. Okay let’s stalk this property:
JF Realty sold it
cream colored paint w/ burgundy windows.
address ends in a “6”
previously they lived in watertown (still have to make a commute)
two stories with a porch and columns.
said they were moving to waltham
I failed to find it :-(. I suspect it might be a house/condo conversion.
Just kidding! I found it.
It’s a condo. Not the full house. $532k. 2400 sq ft. top two floors.
4 bed 2 bath. $100 HOA.
30 year $1912, $1242/$670
15 year $2891, $976/$1914
property tax: $532