Buying a house in Washington State. How much average payment?
My fiance and I are buying a house and I was wondering how much payments would be on a $150,000 house, including taxes and insurance coming out each month. Does taxes and insurance really bump up payments really high? Any advice would be appreciated.. We are a little overwhelmed and not sure how to determine the amount we should spend on a house.
your payment will be determined by lenth of your loan, by your down payment and by interest rate.
If you finance $150,000.00 over 30 years at 6% interest your payment is about $900 per month. Property tax is pretty low in Washington so figure around $200 per month for tax and insurance. Also if you finance more than 80% of the homes value you may be required to pay mortgage insurance. A mortgage broker can give you a good faith estimate when you apply for the loan.
Buying a house in Washington State. How much average payment?
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