What's your Monthly nut(Mortgage&Taxes) and when did you buy in? (insurance, refinance) - Long Island - New York (NY) - City-Data Forum

Crookhaven · 02-14-2013, 08:18 PM

I'm kind of curious what this generations Mortgage/Tax burden looks like.

Anyone care to share? I'll put it as a poll?

You can add the year if you like.

Crooks.

bubbathedog · 02-14-2013, 09:03 PM

I'll put it this way: My monthly property tax payment is now a good 25% higher than my mortgage payment. I bought in the early 2000's.

mathjak107 · 02-15-2013, 02:53 AM

with your down payment reflecting how much of a mortgage you took i can't see how this info would mean a thing to anyone and for what purpose.

i can see comparing taxes but once you throw a mortgage payment in the mix it is so cloudy ; just my opinion..

levitt55 · 02-15-2013, 05:15 AM

Well I would answer that question. But since the last time I made a statement regarding LI taxes I was banned as a troll under my old name levvit 54

Crookhaven · 02-15-2013, 06:22 AM

Quote:

Originally Posted by mathjak107

with your down payment reflecting how much of a mortgage you took i can't see how this info would mean a thing to anyone and for what purpose.

i can see comparing taxes but once you throw a mortgage payment in the mix it is so cloudy ; just my opinion..

It answers a few things.

Risk tolerance by period and ones proportion to their tax obligation.

Crooks

mathjak107 · 02-15-2013, 06:25 AM

Im not sure of how the risk tolerance will factor in. Seems to me if someone put 50% down

their mortgage amont will be skewed one way or another compared to someones 10% down amount.

twingles · 02-15-2013, 07:17 AM

I'm not gonna answer the poll (obviously) but we bought our house in 1997 and if we were still there our taxes and HO insurance would be more than the principal and interest at this point.

Once we got past 10 years in the house the amount that we were putting towards principal really jumped - it amazed me how much of the principal we paid off the last 3 years just because of the way the loan was amortized. This may be the saving grace for some people who are currently underwater if they can hang in there.

mathjak107 · 02-15-2013, 07:30 AM

15 year ?

lubby · 02-15-2013, 08:11 AM

We bought our house in 2003, Paid $249,000 We refinanced in 2009. However the value of my house went down alot. It was appraised during refinance at $315,00 now it's worth maybe $260,000. Gotta love it.My mortgage payment now is under $1,800.

Zytos · 02-15-2013, 08:22 AM

2011. $3600/mo.