RE: What's Your Mortgage Compared To Your Income?
July 12, 2018 at 9:23 am
(This post was last modified: July 12, 2018 at 9:29 am by Joods.)
(July 11, 2018 at 11:03 pm)Whateverist Wrote: I'm a kept man, one who turns over the pay checks and hopes for the best. Our monthly mortgage takes about a fifth to a sixth of what we gross. We refinanced a fifteen year mortgage back when we needed to do some major roof work. I'm not sure how many years are left on that, not many.
The original mortgage was for about 50,000 back around 76. The property is probably worth twenty times as much now but i'm not sure if the building adds anything to that or brings the value down. It isn't for everyone but it has room inside for Lia's studio and space outside for lots of gardening.
![[Image: 5824852423_05f7544709_z.jpg]](https://farm3.staticflickr.com/2396/5824852423_05f7544709_z.jpg)
IIRC, didn't you convert an old warehouse into a house? How many square feet is it?
Fun fact: if you take your monthly mtg payment and split it up bi-weekly, by the end of the year you will have paid an extra month's mortgage. If you tell the mtg company to apply your last two payments of the year to your principal, you can literally shave 7 years off your loan. In addition to that, you won't ever be behind on your payments because of how you structured them.
Disclaimer: I am only responsible for what I say, not what you choose to understand.
