padizzledonk
padizzledonk t1_irfzpwe wrote
Reply to [OC] House price you can afford by paying 1000/month for 30 years vs. interest rate by hmiamid
Its actually less than that....WAY less depending on the State once you figure in property tax....My property taxes are about 6700 a year in NJ (which is pretty low believe it or not)
E- the more I've thought about it the more I think it doesn't matter because it's not the point of this chart, this is a really effective way to illustrate how much small but relatively major shifts in the interest rates matter....2%-5% doesn't seem like a lot of change but it has a massive effect on the prices of things long term
padizzledonk t1_irg1a71 wrote
Reply to comment by squeevey in [OC] House price you can afford by paying 1000/month for 30 years vs. interest rate by hmiamid
Don't forget to add back in to the monthly payment property taxes and insurance costs lol