3 ms·
> five figures buys a home, or less than $10k down and $1k/month I'm not sure why someone would assert this unrealistic calculation, except one might graciousl
by Supermancho 4y ago
> five figures buys a home, or less than $10k down and $1k/month
I'm not sure why someone would assert this unrealistic calculation, except one might graciously interpret it to be describing multiple situations...despite that being completely useless information.
When interest rates were bottomed out, this statement in total wasn't true (at least the $1k/mo part for a 500k loan). I happened to end up in a home that was $490 with 7k down and 2.5% and the payment is naturally above $2k/mo. Finding this situation today is impossible, ofc.
- xwdv 4y agoYou can easily have a $1k a month payment if you don’t include the insurance and property tax as escrow.