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> Estimated monthly payment based on purchasing $400,000 home with 20% down, $567/mo taxes and insurance, and 1.65% closing costs. Does anyone know the source

by throwaway2037 11mo ago

> Estimated monthly payment based on purchasing $400,000 home with 20% down, $567/mo taxes and insurance, and 1.65% closing costs. Does anyone know the source of these numbers? Example: The are national median values. Except maybe Texas, where else can you buy a house/apt in the US near a major job center for only 400k?

Will_Do 11mo ago
National median home price is $410k[1]. Texas is less than $300k[2]. Only thing that's unrealistic is most people who buy a house for $400k will probably get an FHA loan and put 3% down so will have a higher payment because of (1) mortgage insurance and (2) borrowing more money. [1]: https://fred.stlouisfed.org/series/MSPUS https://fred.stlouisfed.org/series/MSPUS [2]: https://www.zillow.com/home-values/6915/san-antonio-tx/ https://www.zillow.com/home-values/6915/san-antonio-tx/
mhashemi 11mo ago
Those are just some medians I either Googled or LLM'd to act as defaults. You can click that sentence and change all those values to estimate.
smt88 11mo ago
Atlanta, Charlotte, Phoenix, Philadelphia, Chicago, probably many others Are you in CA, NY, or MA? I wonder if your scale is skewed.
xboxnolifes 11mo ago
How close do you consider near? <400k is within 30 minutes of a major Hub in a lot of the US.
FuriouslyAdrift 11mo ago
Indianapolis... but it's drying up fast (avg price is almost $400k, now, but there are still decent choices in older neighborhoods) North side of Indy (Carmel, Fishers, Geist) is listed as one of the best places to live in the US.
potato3732842 11mo ago
>Except maybe Texas, where else can you buy a house/apt in the US near a major job center for only 400k? Rank cities from most to least negative characterizations of their residents and/or politics on HN. That'll approximately be your list.
sebmellen 11mo ago
Pittsburgh
- smt88 11mo ago
  Definitely not a major job center for tech

Will_Do 11mo ago

National median home price is $410k[1]. Texas is less than $300k[2]. Only thing that's unrealistic is most people who buy a house for $400k will probably get an FHA loan and put 3% down so will have a higher payment because of (1) mortgage insurance and (2) borrowing more money. [1]: https://fred.stlouisfed.org/series/MSPUS https://fred.stlouisfed.org/series/MSPUS [2]: https://www.zillow.com/home-values/6915/san-antonio-tx/ https://www.zillow.com/home-values/6915/san-antonio-tx/

mhashemi 11mo ago

Those are just some medians I either Googled or LLM'd to act as defaults. You can click that sentence and change all those values to estimate.

smt88 11mo ago

Atlanta, Charlotte, Phoenix, Philadelphia, Chicago, probably many others Are you in CA, NY, or MA? I wonder if your scale is skewed.

xboxnolifes 11mo ago

How close do you consider near? <400k is within 30 minutes of a major Hub in a lot of the US.

FuriouslyAdrift 11mo ago

Indianapolis... but it's drying up fast (avg price is almost $400k, now, but there are still decent choices in older neighborhoods) North side of Indy (Carmel, Fishers, Geist) is listed as one of the best places to live in the US.

potato3732842 11mo ago

>Except maybe Texas, where else can you buy a house/apt in the US near a major job center for only 400k? Rank cities from most to least negative characterizations of their residents and/or politics on HN. That'll approximately be your list.

sebmellen 11mo ago

Pittsburgh

smt88 11mo ago
Definitely not a major job center for tech