Quote:
Originally posted by denim
What do all these prices represent in terms of monthly cost? I'm thinking mortgage + taxes + PMI if any.
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Use 1% of the house's value/month as an "order of magnitude" value. Based off back-of-napkin calculations, that seems accurate within a factor of 2. =)
So, for a 1 million dollar house, you are talking between 5,000 and 20,000 / month, I'd think.
(that's 12% annual interest + taxes + repairs + etc)