Very new to the idea of buying a home. It is something that my wife and I have been kicking around for a little while. How much would the loan payments be a month on a loan of 110,000? 120,000? For 30 years.Question about buying a new house?
these are payments with no tax or insurance included
$110k @ 6% @ 30yr =$659.51
$120k @6% @30yr= $719.46
if you know what the taxs are per year divide them by 12 and add to payment.Question about buying a new house?
You should be more concerned with the entire payment and unfortunately, that depends on the state and town/country you live in as well....the entire payment is typically principal + interest + property taxes + home insurance + mortgage insurance (if you have less than 20% down). For only P %26amp; I, I would expect a payment less than $1000 per month on the values you have listed here.
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