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Old 01-24-07, 12:23 PM
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Arrow Let's talk mortgages!

How much is your mortgage payment?

I know this might be sticky subject but we've talked about every other aspect of our financial situations, right?

With the market being shaky, some might be considering refinancing and stuff. So let's talk about it.

How much of your mortgage payment is interest and how much is principal? Do you pay PMI?

What's your interest rate?
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Old 01-24-07, 12:29 PM
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Our mortgage payment is $830, I think. DH pays it used to be $860, but I know it just dropped recently. An obscene amount is going towards interest right now because we just bought it in Nov 2005. I don't remember our exact interest rate, but I am thinking it was around 6.5%. Yes, we pay PMI right now..Once we get below 80% we will refinance and drop the PMI.
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Old 01-24-07, 12:32 PM
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ours is $1600.00.. that is with the taxes and insurance. our intrest rate is 6%
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Old 01-24-07, 12:33 PM
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Our's is around $1200 a month at 6.25 % interest for 30 years. We will refinance in a couple of years and drop it to 15 years like we have done before. We have other investments we'll sell to put toward this. Our interest is the big portion right now because we bought in 2005 as well.
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Old 01-24-07, 12:45 PM
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ours is $1124 but that is with taxes and insurance as well....we don't pay PMI and our rate is 6.something% (cant remember the exact #) however, right now with this investment thingy I also have a $220 a month property loan payment, and right now a $450 a month payment on the equity line of credit loan we have, I say "right now" because we arent done yet so this payment will go up the more money we use, by the end I expect we will be paying about $700-800 on that one so basically a whole other $1000 per month
Im really scared about that and hope hope HOPE the house sells quickly....say a few prayers for us on that one!!

**I should add our goal with the investment property's is to eventually get enough to pay off a mortgage, either on this house or a new one so hopefully ONE day we wont have a mortgage payment!!
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