ilmscore | Prediction Details
"let's take the example of buying a $400,000 home because at 10% down you would be out of pocket $40,000 you would then be receiving a loan for $360,000 which at a 7% interest rate brings your monthly payments to $2,400 a month if you pay PMI by the way that be an extra $150 a month on the low end From there you're going to have property taxes in an average of 1.15% a year or $383 a month insurance is probably going to cost you about $200 a month and if we assume you spend about 1% of the property's value each and every year in repairs and maintenance that's an additional $330 a month this brings your total out-of-pocket cost to own the average home here in the United States at $3,463 a month with $40,000 down"
By Graham Stephan | May 29, 2024 | Pending
From video
Renting vs Buying a Home: What NOBODY Is Telling You 00:05:13 - 00:05:55
Interpreted Prediction
The total monthly out-of-pocket cost to own a $400,000 home, including mortgage, PMI, property taxes, insurance, and maintenance, is estimated at $3,463, with an initial $40,000 down payment.

Prediction Details

Topic
Buying a $400,000 Home

Comments

0 comments

Be the first to share your thoughts.

Like this prediction?

Join to make your opinion count.