Around us, the average mortgage payment with taxes and insurance is about $1300/month. When we buy a house, our payments (everything included) will be around $800/month since we have a lower budget, since we are on one income. What is the average mortgage payment in your area?
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That's so relative! BIL/SIL pay like $1500 a month for the home they just built, I believe...when DH and I buy a house that's less than half the price of theirs, I think our payments will be closer to $600 a month.
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I'm not sure of the average but ours will be a little over 2000 a month. I live in CA.
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Where are you finding the average mortgage? I'm not sure what it is near us, but our rent on a small 2br apt is a few hundred more than your mortgage will be.
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Wow yours and tororojo's are so low!
Houses here run in the 150-200k range so that's about $1300-1800 house payment.
We rent an apt for $850 and that's at the tip top of our budget. We couldn't afford anything extra.
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I think here it's around $1000-$1100
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The majority of people I know bought houses anywhere from 400k-600k, so their mortgage and taxes are probably anywhere between 2-3k.
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@mrs. bird: I just did it based on what the average house costs here for a regular joe, and went from there.
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@Mrs. Pen: ah what is the interest rate where you live? here a $150k house amortized over 25 years would have a mortgage payment of $716 monthly. (I'm a mortgage agent in Canada)
We pay $710 biweekly, I'd say most of our friends and people we know in the area pay about the same, maybe a bit more. All houses are over the $300k mark.
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I would say probably in the $1000 range. It's crazy we paid $80k for our house, and our mortgage payment is $920 (but we got a 15 year loan) and included in our mortgage payment is property taxes and home owners insurance.
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I have no idea what the average is since it depends so much on how much $ someone puts down, what interest rate you get, what your taxes are, what your insurance costs, if you have HOA fees, etc. I would say that very, very generally homes are between $275k-450k for an average single family home and taxes are an additional $3500-6000/year.
Our mortgage is about $1850/month.
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No clue. There is such a range in home prices around me. From condo's in the $100K -$1M to homes from $300K to multiple millions mansions.
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I have no idea -- it just depends so much on home price, how much you put down, etc. Ours, though, is $1071/month (including taxes and insurance), which is almost exactly what we had been paying in rent.
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