Homestead mailing list

[Rob <becidawa AT hctc.com>]

At  2/8/2005 04:52 AM, you wrote:
> At 2/7/2005, you wrote:
>
> > Sub prime?
>
> Loans for the less credit worthy borrowers.
>
> > Let's see $500k at 30 years....
> > At 4% it's 2378.03/month comes out to 859.347.53 over the life of the loan
>
> On that monthly add taxes of $6000 a year and insurance of around $600.

Sub prime, I never heard that term before.
(Say Lisa, how do they figure the credit score when the husband and wife 
have different scores?)

Ok let's pull out the mortgage calculator and redo this.

$500k at 8% (why not?).
$3668.82 / month, that's $820,776.23 INTEREST over the 30 years.

$3668 (P&I) + $500 (tax) + $50 (insurance) = $4218 a month

If you ask me that's a LOT of money for a house.


Rob
becidawa AT hctc.com
W Washington, USA

Too much time on my hands
and not enough ambition....