The Monthly Payments on a $740,000 House
What are your monthly payments if you buy a $740,000 house in the Seattle area RIGHT NOW?
$740,000 isn't an ambitious price for a single family house in the Seattle area. So, what would your monthly payments be if you went for this? Chris Lord of Caliber Home Loans and I breakdown your monthly payments if you put 20% down or 10% down.
Payments with 20% down
- This includes taxes, insurance, and given you have good credit.
Payments with 10% down and pmi
Payments with 10% down and no pmi
Loan would be structured with a first and second mortgage. The second mortgage is for the other 10%.
You'd eventually pay off the additional 10%.
This would be around $4,400/month.
This doesn't factor in appreciation, tax benefits, and the pride of ownership.
Every situation is unique. I would recommend talking to Chris Lord to figure out what your payment would be. There's no obligation and it doesn't cost you anything.
Are you thinking about starting your home buying journey? Reach out, we can help you.