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amber1
LIF Infant
Member since 4/06 190 total posts
Name:
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Poll for those with $4000+ mortgage payments
For those of you with $4000+ mortgage payments (incl. taxes and insurance), if you feel comfortable, please take a poll of gross income. It seems like it is hard to find a place in Nassau in a good school district and good commute for under this and I am not sure if we are insane for even considering such a payment!
Message edited 8/29/2006 3:39:17 PM.
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Posted 8/29/06 3:37 PM  |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Just an FYI, you can't choose more than one poll option.
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| Posted 8/29/06 3:45 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Poll for those with $4000+ mortgage payments
I think you need to sit down and figure out if you can afford it
some people have CC debit, some have student loans or expensive cars atc
I think you need to figure out all your monthly expenses and see if you feel comfortable paying that much money and if you have money left over
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| Posted 8/29/06 4:01 PM |
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MrsBlueSash
Love my sailor
Member since 6/05 5793 total posts
Name:
Christian
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Re: Poll for those with $4000+ mortgage payments
I agree with Beth. I'd also add that the kind loan makes a huge difference. Are you talking an IO loan, ARM or fixed. If its 4k and fixed and you can do it than great. But if you're barely making it on and IO or ARM, that might make it more questionable. I guess it just depends on your situation though.
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| Posted 8/29/06 4:20 PM |
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lucyloo
nope
Member since 1/06 9758 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
4k? Holy Crap!
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| Posted 8/29/06 4:23 PM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Posted by dita
4k? Holy Crap!
My thought exactly. 
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| Posted 8/29/06 4:31 PM |
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CaseyGirl
Mommy to 3 Boys :)
Member since 5/05 19978 total posts
Name:
Jen - counting my blessings...
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Re: Poll for those with $4000+ mortgage payments
$4k is insane.
ETA: No offense to those who may have that. I just can't personally see paying that much.....that's $48,000 a year just to live on LI.....wow.
Message edited 8/29/2006 4:33:51 PM.
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| Posted 8/29/06 4:32 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Posted by chmlengr
Posted by dita
4k? Holy Crap!
My thought exactly.
mine too! 
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| Posted 8/29/06 4:33 PM |
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amber1
LIF Infant
Member since 4/06 190 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Those of you who think it is insane, do you live in Nassau or Suffolk county?
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| Posted 8/29/06 4:36 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Posted by MrsTC
$4k is insane.
ETA: No offense to those who may have that. I just can't personally see paying that much.....that's $48,000 a year just to live on LI.....wow.
If you were to buy a house that costs $640k and put 20% down, with $12k a year in taxes - that would give you a $4k mortgage/tax payment. I dont think paying $640k for a house on long island is that insane, or even out of the ordinary for that matter......
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| Posted 8/29/06 4:41 PM |
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~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: Poll for those with $4000+ mortgage payments
Posted by lululu
If you were to buy a house that costs $640k and put 20% down, with $12k a year in taxes - that would give you a $4k mortgage/tax payment. I dont think paying $640k for a house on long island is that insane, or even out of the ordinary for that matter......
Put in these terms, no, it's not insane at all.
I think if you can afford it -along with any debt you may have/incur- go for it.
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| Posted 8/29/06 4:43 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Poll for those with $4000+ mortgage payments
Posted by lululu
Posted by MrsTC
$4k is insane.
ETA: No offense to those who may have that. I just can't personally see paying that much.....that's $48,000 a year just to live on LI.....wow.
If you were to buy a house that costs $640k and put 20% down, with $12k a year in taxes - that would give you a $4k mortgage/tax payment. I dont think paying $640k for a house on long island is that insane, or even out of the ordinary for that matter......
It all depends on how much you can afford and how much you earn. That can be a nice house! If you can afford it, go for it..but crunch the numbers like others have said.
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| Posted 8/29/06 4:44 PM |
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amber1
LIF Infant
Member since 4/06 190 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Lululu- that is exactly what I am talking about. It seems like the houses in the $600k range are few and far b/w and need work so it is tough to find something in western Nassau under a $4000 payment.
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| Posted 8/29/06 4:46 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Posted by amber1
Lululu- that is exactly what I am talking about. It seems like the houses in the $600k range are few and far b/w and need work so it is tough to find something in western Nassau under a $4000 payment.
I live in western nassau as well - which is why i dont find it insane at all. If you can afford it - definitely go for it. Can I ask what areas you are looking?
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| Posted 8/29/06 4:51 PM |
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amber1
LIF Infant
Member since 4/06 190 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Rockville Centre, New Hyde Park, Garden City, etc.
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| Posted 8/29/06 4:52 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Posted by amber1
Rockville Centre, New Hyde Park, Garden City, etc.
Those are all very nice areas! I love Rockville Centre... Good luck in your search!!!
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| Posted 8/29/06 4:54 PM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Poll for those with $4000+ mortgage payments
I don't think it's that insane.
How much does that work out to for the house price? $700,000?
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| Posted 8/29/06 4:56 PM |
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amber1
LIF Infant
Member since 4/06 190 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
A house for $650k with $12,000 taxes will bring you over $4000k in mortgage payments.
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| Posted 8/29/06 4:57 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Poll for those with $4000+ mortgage payments
there are soo many factors!
How much your income is
how much your Down payment is
what type of spending habits, CC debt, car loans, etc do you have?
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| Posted 8/29/06 5:00 PM |
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amber1
LIF Infant
Member since 4/06 190 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
bump
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| Posted 8/30/06 11:40 AM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Poll for those with $4000+ mortgage payments
Posted by amber1
Those of you who think it is insane, do you live in Nassau or Suffolk county?
I am in Suffolk County and could not imagine spending that much money on a mortgage. We were VERY lucky we bought our house 10 years ago as $4,000 is 4x my mortage, taxes and insurance!!!
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| Posted 8/30/06 9:06 PM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: Poll for those with $4000+ mortgage payments
Posted by dita
4k? Holy Crap!
ditto
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| Posted 8/30/06 9:08 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Poll for those with $4000+ mortgage payments
Posted by hazeleyes33
Posted by amber1
Those of you who think it is insane, do you live in Nassau or Suffolk county?
I am in Suffolk County and could not imagine spending that much money on a mortgage. We were VERY lucky we bought our house 10 years ago as $4,000 is 4x my mortage, taxes and insurance!!!
You would never be able to get a house in suffolk or nassau for that amount now (without putting a ridiculous amount down).... You are very lucky you bought when you did.....
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| Posted 8/30/06 9:34 PM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: Poll for those with $4000+ mortgage payments
Posted by lululu
Posted by hazeleyes33
Posted by amber1
Those of you who think it is insane, do you live in Nassau or Suffolk county?
I am in Suffolk County and could not imagine spending that much money on a mortgage. We were VERY lucky we bought our house 10 years ago as $4,000 is 4x my mortage, taxes and insurance!!!
You would never be able to get a house in suffolk or nassau for that amount now (without putting a ridiculous amount down).... You are very lucky you bought when you did.....
I know!! We paid $110,000 and now we could sell for close to $400,000! INSANE!!!
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| Posted 8/30/06 9:40 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Poll for those with $4000+ mortgage payments
Posted by hazeleyes33
Posted by lululu
Posted by hazeleyes33
Posted by amber1
Those of you who think it is insane, do you live in Nassau or Suffolk county?
I am in Suffolk County and could not imagine spending that much money on a mortgage. We were VERY lucky we bought our house 10 years ago as $4,000 is 4x my mortage, taxes and insurance!!!
You would never be able to get a house in suffolk or nassau for that amount now (without putting a ridiculous amount down).... You are very lucky you bought when you did.....
I know!! We paid $110,000 and now we could sell for close to $400,000! INSANE!!!
why oh why couldnt I have been born earlier so I could have bought before the boom!!!
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| Posted 8/30/06 9:46 PM |
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