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>According to mortgage calculator, a 1.5m house would take 60k down-payment and 1.5k/month[1]. Did you miss a zero somewhere or did the calculator have a bug?
by apohn 7y ago
>According to mortgage calculator, a 1.5m house would take 60k down-payment and 1.5k/month[1].
Did you miss a zero somewhere or did the calculator have a bug? There's no way 60K down and 1.5k/month is correct. It's much higher than that for a $1.5M home.
- nwah1 7y agoFannie Mae's "jumbo loan" policy means you have to pay huge money down and also prove that you have enough in the bank to fund like 6 months of payments.
- coolaliasbro 7y agoI was about to say the same thing. I put $33k down and financed $208k at around 3.5% (in the Upper Midwest). Three years on my payments are about $1280, after increased taxes YOY.