[albie]

Even if you mortgaged the entire $230,000 your payment would be about $1400 p/m. That’s $16,800 p/y.

[Michael Barnes]

Even if you mortgaged the entire $230,000 your payment would be about $1400 p/m. That’s $16,800 p/y.

Then there is PMI, escrow on property taxes and home owners insurance, few other misc items in there. By the time that is done, you are talking closer to 2000, maybe 2100 a month and I bet my figure is still low.. They would have to be receiving interest rates you and I are not privy to in order to make this work long term.

[Chickensoup]

I read the mortgage payment at around 2400 per month plus taxes and insurance.