present home 2800 per month, including property tax (10k per year)
Next month moving to new home,4400 per month, inlcuding property tax(13k per year)

present home have 75% equity
new home 50%+-
amazing the differences in home prices and property taxes across this wonderful country :)

I'm so glad to hear it qdog!!

I was feeling insane for my 2800!!

So qdog, you will pay over 50,000 a year in mortgage payments!?! Yikes.

Congratulations on what must have been one sweet raise or promotion! I gotta get me one of those!

Moving to a new home once we finish building enough to move in (though house will not be complete). The loan payment for the new home is $650 per month. Real estate taxes are the unknown until house is actually finished but based on nearby homes expecting taxes will add another $550 per month.

Right now we only have to pay monthly payment of $650 loan each month and real estate taxes of $100 per month (based on land value only). We've been putting aside $1200 per month for the mortgage payment and real estate taxes based on what we expect monthly payments to be once we move in. The extra money is building up an "emergency fund".

We will be moving in to an unfinished house (no flooring or trim and a functional but unfinished kitchen) but will have lots of equity in the house. Once the house is assessed and we find out the amount of real estate tax we will then decide whether to get another loan to finish more of the house now or wait and do it over time. Because our income in not high we really need to keep the PITI payments to about 25% of our income.

We don't have a mortgage but our monthly property tax payment is about $1400 a month. ($17,000 a year)

C

wow. I can't imagine that.

C:
Are you talkin million dollar property?

It's a nice home, but by no means a mansion. We live in NJ and property taxes are sky high. Our assessed value from the township is $550,000. In today's market the house would sell in the $800,000's.

My brother pays $8,500 in property tax on a $280,000 condo so maybe we should consider ourselves lucky!

C

We're outside of Phoenix, AZ...

Home just sold:
$1900/mo. including taxes ($1300/yr)

Home being built:
$2400/mo. including taxes (estimated $3300/yr)

Present home, purchased March 2005 for 129,000 in a non-desired suburb of Birmingham, AL (i.e., don't live here if you have kids in school).

Mortgage was 103K at 5.25% for 15 years, for PI of 829.60 per month. Taxes are, maybe, $1,200 per year, so another $100 per month. (Gotta love Alabama, ain't no lower taxes nowhere). Insurance is about $150 per month (older home with high replacement cost value vs. appraisal value). Total payment (escrowed) is about $1,100.

This equates to about 20% of our take-home pay. And the take home is after health/disability insurance and 6% to 401K.

I was contemplating a move to another state a year or so ago and was shocked to realize how much LESS home I could buy because of the much higher property/school tax burden. It's amazing what the taxes are in other states.

Central Texas

Current home (selling at the end of the year)
PITI - $860mo

Future home (should start building soon)
PITI - $3300mo

That is a large jump!

That must be some house to have a payment like that in Texas. I keep threatening to move there because you get so much house for your money.

Yes, it's a huge jump but we're ready for it. The $3300 is actually an estimate on my part. Mortgage broker is estimating something much lower, but we'll see. Also Texas is cutting property tax by 11% starting in 2007, so that will help a little.

The house is 3450sf with a 270sf work shop on a 1 acre lot, total cost will be around $380k.

I think Texas is just about the cheapest place to own a home in the US. So y'all come on down, I got me a house to sell!

I pay about $1200 (taxes, insurance, principal) and I'm very very grateful that I didn't borrow as much as the bank told me I could. Because the year before last I took a big paycut, when I was laid off. Now my mortgage payment is more than I'd like, but if I hadn't been conservative when I bought the house there was no way I would have been able to afford my house now. And I only have the mortgage and student loans.

Some years ago I sold heaters fired with corn, when they were rather new to the area.

Some inquirers would ask, "What are they worth"?

My reply, often with a chuckle: "I don't know what they're worth - but we sell them for $1,895.00".

Some are saying that houses in many parts of the U.S. are substantially overpriced, using the term "bubble" sometimes.

For the sake of many who are taking on large debt to finance them - I hope they're wrong. That's what my heart says - but my mind doesn't fully agree.

I hope that you and your family have a great (and safe) weekend.

ole joyful

We don't have a mortgage but our monthly property tax payment is about $1400 a month. ($17,000 a year)
C

We're in the same boat. I think out tax this year will top $17K or higher.

Sweet deal, eh?!

Wild, huh?

*and* they are all adjustable to boot!! No fixed.

You get a lower payment ($526 vs $600 on 100k at 6%), but all it would take is an upward adjustment of about 1 1/2 % for the payment to be equivalent to a 30 year fixed. Think that might happen sometime in the next 50 years?

-*and* unlike a 30 fixed, the rate can go up even more!!

-*and* after 10 years payments, you still owe 95.7% of the original amount!

-*and* you get to pay for a whole extra 20 years past a 30 year term!

Maybe a borrower should rethink buying right now if this is the only way to qualify for a mortgage...

Well it sounds to me like some people here just get a little jealous of other people that can afford more than they can. All most people are saying is how much there payment is, but not how much they make, so if someone is making $200,000 a year, they can obviously afford quite a bit bigger mortgage than someone making only $50,000 a year.

Maybe not, though. $200k puts one in vastly different category than does $50k. And nowhere in your statement have you mentioned "other" debt. Someone with a fat income may be mired in lots of "other" debt, making the solvent one with 50k better able to "afford" their mortgage.

I harbor no envy for people who earn more money than I do. We have everything we need and we live comfortably; my take on THEIR payments? if they're comfortable with them, then why would I care a fig how much they pay?

;)

...Well it sounds to me like some people here just get a little jealous of other people that can afford more than they can.

I think it is more curious amazement than envy or jealousy. The PITA range is fascinating - and not necessarily correlated with income. Lenders say I could "afford" way more mortgage, but I choose less house and lower debt. I don't feel envy or judge those who make other choices.

People are different. Makes things interesting is all.

No mortagage but our property tax is about 650/month.

We financed 103K (after 20% down) in March, 2005 at 5.25% for 15 years. P+I is $830, +$150 insurance and $80 property tax (yea, Alabama -- lowest property taxes in the nation!) for a total of 1,044.77 per month.

We sold our home with a 175K mortgage when DH lost his job last January. DH's income was not considered in the financing on the new house, and the figure was 20% of my gross/32% of my take-home -- outside my comfort zone, but we couldn't find a suitable house for less than the 129K we paid for this one. This is not a desireable negighborhood for most. It is an historic neighborhood we hope is "on the way back" but you'll not catch many folks with children moving here because of the abysmal schools. But the house is a 1925 Mediterranean style with hardwoods, a tile roof and buckets of charm, and it suits us well.

Now that DH is working again, the payment is about 12% of gross/20% of take-home (after 6% to 401K). The mortgage is our only debt. And here lies the difference. Many people would take the increased income as a sign to upgrade in home. I don't know if it's fear of being overextended, a desire to have a paid-for house by the time DH retires, or just my general orneriness and refusal to follow the pack, but I'm not budging. We should have the 15-year note paid off in 8-9 years.

I think at some point people will have to return to the second- and third-tier cities and more rural areas, as the major cities become simply unaffordable. I'm sure there are many Los Angelenos or New Yorkers who would cringe at the thought of living in Alabama or Tennessee, but it's simply a matter of priorities.

No mortgage and about $100 a month total taxes on the house and farm.

House is small yet comfortable, and I'm very comforted knowing there is no mortgage, CC or car payments.

Frugal Sue

Here near Austin, Texas we pay lots of taxes and insurance -thanks to floods, hail, and the occasonal tornado. The hail is actually the worst of it. Oh, and then there's that stupid mold remediation that ruined homeowner's coverage in the first place.

I managed to get a 5.75% interest rate on $115kish. So the PI is around $680 and the taxes over $4k yearly and the insurance about $900. We've never had a claim, so the insurance is a cheap as it gets. The governer just approved a tax cut, we'll see if we get the average $600 decrease he is trumpeting.

Sorry for such long post! (I don't know how to be short! I should write books! haha!)

This is a very long & informative thread. Sorry I cannot address anyone in peticular.

I am one of those who financed 100% mortgage.

I have been living with a SO for 20 years now. I have rented all my life. And Hated it!

Never know from day to day if the owner is selling house and once sold you have 30 days notice to move.

Knowing that ANY day you can receive a rent incease notice in your mail.

The last rental (which we rented for eight years) was the worst out of 30 years of renting - but then that's a long story.

We were paying $800.00/month for a tiny one bedroom house, and I KNEW the rent was going to increase again - because we had plumbing problem - one and only toilet backed up.

Hubby tried to fix - ran the snake, etc. We called Plumbers out (at our expense). They tried. This kept going on for a few months.

(It was so bad that I either had to place a certain bucket btwn pot rim and seat to go potty, OR, I even had to go WAY out back of our deep lot by a tree! It was bad!)

Finally Landlord had it fixed correctly, but called to tell us that he "HAD TO SPEND $2000.00" to fix it!

The problem was NOT female related products going down the toilet, but a very old house, and the plumbing was not up to date and narrow - or something like that. But nothing WE did!

I could not believe landlord relayed this info to us! I KNEW a rent increase was in the making! - AGAIN! (He didn't even offer to re-imburse us for the $$$ WE put out! - I know, but that's another story also!)

Plus, the place was infested inside and OUTSIDE with daddy longleg spiders! (Never DID get rid of those suckers!)

Told Hubby, I have $5000.00 if you want to look to buy a house, as I'm fed up. He said Okay. (OH! HE also had a tiny bit of money!)

NOW, it was FINALLY "escape" time- lol!

I started looking up houses on internet. (This was around April/May 2003)

Prices were going up to the tune of $10,000 per WEEK!
My MAX was $125,000.00.

We looked at several houses fast as we could - (NOT GOOD looking FAST, but had to act fast due to limited time we had to look and prices rising that quickly)

We finally realzed we were going to have to move further out - not something I wanted, but, If we can gain freedom from landlords, OK!

We settled for a house in a good area for $134,000 - ABOVE my limit! (But anything else was little tiny things & in bad & secluded areas.)

Nothing fancy at all - carpet and tile "newer", but totally don't match. 2 BR 1-3/4 BA, approx 1560 sqft on just less than 1/2 acre. Acoustic ("cottage cheese") ceilings, colored porcelain kitchen sink, as well as the two toilets/bathtub/sinks....TOTALLY OUTDATED. No curb appeal, no fancy anything inside or outside!

BUT, it's ours! NO LANDLORDS!

I feel we got screwed - as the person handling our loan application just "sat on it" for a couple of months, we ended up with a higher interest rate than we should have gotten had she done her job properly!

I found out later that she "supposedly" sat on it on purpose - waiting to see if rates would go back DOWN! ...Well, that's the excuse "I" heard.

I blew my lid!!! I KNEW rates weren't going down, and I'm just the "little guy"! It's not "bad", but we could have gotten better if she did her job in timely fashion. It was one of those situations - a friend who has a relative who has a company...

I was so irate and ready to back out of the whole mess. "Hubby" almost backed out also.

But then my brain kicked in again - if we back out, we have to start ALL over, and prices are going up $10,000 week avg - so let's just do it NOW, lest we miss out all together!

(Obvously, I will not use nor recommend THESE people again!)

So, even tho we had maybe $10,000 between us to spend to buy the house, MOST of it went to termite inspection, closing costs, etc. Then, we had to put out all the $$$ to rent a truck and move...
...and replace the bedroom carpets (they stunk from pet smells), etc.

We did an 80/20. One reason: We didn't have 20% to put down above the $$$ already spent on closing costs, etc., and the OTHER reason was to avoid paying PMI!!!

PMI is $$$ spent that does NOT go towards your house payment.

Anyway - THAT is why WE financed 100% to buy a house...most likely "above our means" at the time.

On the other hand, if we stayed in that rental, our rent would have increased again at least once (probably more like 2 or 3 times by now). OR, who knows - the owners had kids, and we were near a College - so there was also possibility we could have been booted out so one of the kids could move in - or they sell or???

So even tho we financed our house 100%, and even tho we are stretched to the max, we would be in the same boat - if not worse - today as renters.

To sum it up - we were maxed out as renters, and we are maxed out as homeowners. What's the difference? Our house (last I checked a few months ago) is worth about $300,000 now - but I like to be conservative...I say worth $260,000 minimum.

BTW - I have a niece who lives in an apartment complex just within 2 miles from us - 3 BD 2 BA, a little smaller than our house, and paying $1300.00/month! Not fancy either...

Now that I forgot the topic - (sorry - it's either just ME or the meds I'm on...)

I believe it had something to do with people "over extending" themselves? lol! I've been over extended all my life - so I'm used to it.

hmmm... $4400/mo PITI give or take, About 65% of value financed. It's expensive to live a 2 minute walk from the beach in SoCal. Lot is 2400 sq ft. House around 1200 sq ft. Will build up soon, 3 stories.

Bought 1922 wood-frame colonial for 199,000 in 2004. Lowest priced, smallest house on block - about 700sf on 1st floor, 700sf 2nd floor, plus 700sf unfinished (but dry and carpeted) basement in a neighborhood full of 250K - 450K homes.

We borrowed 119,000 to pay back over 30 years at 6.125%.
(Used 20K from sale of previous home to refinish floors on 1st, install carpeting 2nd fl, insulate entire home and put in Anderson doors/windows.)

We pay 1150/mo. for principal, interest, and property taxes (over 400/mo - highest in state of OH = great public school system).

Homeowners insurance is almost 50/mo

Electric bill less than 100, natural gas budgeted at 145, water & sewer around 75, land line/cell/ DSL comes out to 100/mo

Me + DH + three kids early years of schooling

1 teacher's salary income (brings home $4400. each month)

We walk to work, walk to school, use 1 visa (earns gas) that is paid off in full each month, only shop with a list in hand, pay to emergency fund - savings for retirement - college FIRST, don't buy something if we don't need it or love it or don't have cash in the bank for it, keep things simple (kids need very little 'stuff' really), and attend free events for family fun.

Examine budget (with family) monthly and assets/liabilities (with financial planner?) annually.

Our mortgage payment is $1285/month but $170 is extra for the principal. We also put aside $250/month for property taxes. Very expensive here. We got a fixed rate for 3.5% for 5 years. Our mortgage term is 25 years but we are hoping to pay it down a lot faster to gain more equity. In January we will be able to increase our mortgage payment again so more goes onto the principal (an extra $355/month). HTH!

$ 1043 principle and interest for 15 year/5% fixed rate (no escrow)
$ 50 homeowners insurance
$ 330 property taxes

$ 1423 total per month

House is worth about $550k, mortgage balance is about $118k.

Seems about average to me, based on what everyone else has posted here. Interesting.

What a strange thread. The question should be how much did you finance, not how much is your payment. Not all mortgages are 30 year, not all are 20% down, some have escrow for homeowner's and taxes...

Anyhow, I pay about $1100 a month. As if that tells you anything besides that my income is somewhat more than $1100...

I pay close to $1,000 a month just for property taxes.

Wow, I can't believe how much property tax is for many of you! I bought a house for $150K, financed $120K. Monthly payment breakdown is roughly $695 mortgage, $55 insurance, $95 for taxes. House is 1168sf 2 bedroom/1 bath on a slab. It's in a nice area, including one of the top school districts.

I will add that this house and price is an anomaly in this area. Normal prices are minimum $280K, and those are being torn down for homes $700K and up. Of course these homes are larger, 3000sf and more. What I'm saying is that I got an inexpensive, solid house that I can afford in a really great area. My tradeoffs were a small home with no basement and no garage, but I know I can still afford this house on a pretty minimal salary if needed. Even if I landed a fabulous high paying job, I would not buy a big home with a big mortgage. Too many other things I'd rather spend my money on, and also those fabulous high paying jobs can disappear in an instant.

Taxes are what they are. And it varies where you live. I am near Chicago. Property taxes are high. Incomes are high. Home prices are high. It's all relative. Don't assume people with large mortgages or taxes don't have large savings to boot. It doesn't always mean one is house poor.

Dgmarie,

So right about people.

Not only that people underestimate how much some people actually earn in our society which really fuels the housing prices.... Many of the average professional jobs, ie engineers, accountants, experinced nurses make near or above 6 figure incomes in my city. With two incomes, they are making 200k to 400k.

Many of the sales people, real estate, medical, financial products etc. that are successful are making upwards of 1/4 of mil or more easily. The people that are dealing in financial matters, ie top brokers, money managers, in big firms are making 1/2 to 1 mil easily. There is alot of wealth floating around in our society.

There is also a tremendous amount of passing on of the wealth. Lots of people are buying houses with the help of their parents in my community. The parents will give them money for down payment. Wealth generally begets wealth.

This makes it very difficult for those that are in the true middle America.

We are in San Francisco area. We pay $6100/month for mortgage, property tax, and insurance. Before we bought this house, we sold the one we had lived for 10 years. We used the gain from the other one for the down payment of this one. We put down 45%. When I quit my job last year hoping to spend more time with kids and relax after non-stop working for 20 years, I immediately felt the squeeze. So I went back to work in May.

Our home is nothing fancy: 50 years old 3 bed, 3 bath, 2300sf ranch style. Most stuff is original, i.e. bath, kitchen, floor, windows, etc. I saved some money from our previous house sale to finance the remodeling of this one. So far I have spent 300k on it. My DH is going to do the landscaping himself because there is no money left for that.

I think it's worth it to live in this great climate, very nice neighborhood. We have a 3/4 acre lot next to a creek and surrounded by redwoods and oak trees. We can walk to our pretty little downtown. Live is quiet and sweet here, yet we are only minutes away from San Francisco. Even we spend a lot of our income on the house but we enjoy it every day.

I think 2-income families have become the norm these days. Otherwise we can not afford decent living.

"Our home is nothing fancy: 50 years old 3 bed, 3 bath, 2300sf ranch style."

Mine is 40 years old on a wooded lot, 4 bedrooms, 3.5 bathrooms 2400 sq ft.
We paid off the mortgage as soon as we could (tax break be damned!) and pay $2000 property tax annually.

The thing with mortgage payments is, most everyone struggles at first and has to make sacrifices in their lives but it doesn't go up. If you can survive the first 10 years, you're sitting pretty afterward. If I'd bought a house 10 years ago, my payments would be around $400-$500/month and I'd had to make sacrifices in my life back then to be able to afford that. Today, and still be paying probably $500/month is a joke! Who can't afford $500/month?

I purchased my house a couple years ago at a time I was paying $625 in rent and had to pay for my mortage, taxes, insurance of $1100/month. That was hard. Today, it's around $1150/month and had I still been renting I'd have to pay $850 but my income has increased. Ask your parents how much their mortgage payment is. My parents mortgage payment was $35/month a fews years ago. My brother who purchased a house 8 years ago, his mortgage, taxes, and insurance is $700/month. So, everyone struggles at first, but the sooner you start the better.

One important item is, how easily it will be to improve the houses efficiency and that it is as small as you can live comfortably. If there's a 50's ranch for $200k and a victorian that's 3-4x the size for the same price, go for the ranch. You will never be able to get ahead with the victorian. Think how much it'll cost to heat 1,300 sq ft ranch with normal sized ceilings, probably $3k/year then how much it'll cost to heat 3 floor victorian with a lot more leaks and oversized rooms. Then, how much it'll cost you to replace all the normal sized windows in a ranch with high efficiency ones, vs how much in a victorian to replace 4x more oversized windows. Unless victorians are your style of living and your life there's a reason they sell so cheap. Live in as small a house as you can and as big a property. It'll save you in price, save in heating, save in taxes, save in improvements, and let you have money left over to either make it exactly how you like, take trips, or save for retirement.

My first mortgage/ins/tax for the primary residence is $3000.00 on a 15 year term.
My home equity loan on the property is $850. I usually pay $1000 to $2000 extra each month on the home equity. I am trying to pay it off as quickly as possible, since it is ARM.

My house value is about $800k to $900k. The median house in the area is around $450k to 500k. The average house, I would estimate around $600k to $700k.

We are a two income family because we both have really great careers/professions that we love and are well compensated. We also have extremely flexible part time situation. We are both happier working, and the kids are very well taken care of. We work mostly because of our work satisfaction not because we have to.

Piedmont, I so agree with what you say about housing choices. I went from a big Victorian with 58 windows to a ranch with 10!! Not only way fewer to replace, but fewer to wash, and they don't need storm windows taken on and off.

I'll take using a step stool over hanging out a third story window any day.

We live in a 3/2/2 in a gated community in Palm Beach County, FL. Our pymt is about $1545/mo and this includes property taxes which make up about a third of it. We have a 30 yr fixed at 5.5%

My mortgage + tax + insurance is about $1600 for a 1790 square foot house with a nice 1+ acre in-town lot (I live in Maine). I'm young (26), and the payment is a little tight right now (especially since we are also doing work on the house to update it a little). I make about 75-80k (my salary plus about 10-15k in consulting), my wife doesn't make much - about 20k, but she is working on getting a second undergraduate degree with more employment potential in our area. I am able to put 10% of my salary into my retirement play (my employeer is also putting 10%). I am due for an approximately 4% salary adjustment in October, and my boss is discussing a promotion that should include a better raise after than - so things will get better

Here in zip 20906, Montgomery County, Maryland the cheapest single family house in the multiple listing service is $345,000 - it's a 2 bedroom on a tenth of an acre. That's an estimated mortgage payment of $1700+/month! If you get lucky you could find a (small) townhouse for $200,000. Luckily for me we bought our house 7 years ago, so our mortgage is only $950/ month. Insurance is another $150/ month, property taxes are $2400/yr.
I am lucky, bought a while ago, am able to stay home w/my kids on hubby's salary. However, my cop brother and his school teacher wife don't have that option, since they only bought a couple of years ago...

This is for Western pa luann (or who ever else has suggestions) how did you pay your mtg off? About how long did it take you? And is it hurting you with your taxes? I so desperately want to pay our mortgage off, we have only been in it for 1 yr 3mos, and about 4mos ago I switched to bi-weekly and I can only afford paying $20 extra principle a month on top of the bi-weekly for right now. The mtg is 356K so the bi-weekly will only take maybe 5yrs off the 30yr mtg, any other suggestions?

It's hard to answer that, raelyn. There are lots of ways to shorten a mortgage. If you can jigger your budget around to find another $20 each month, choosing to do without something non-essential so that that money can go to the mortgage, that's another five years or so off. If you really want to pay off the mortgage as fast as possible, you could consider a second job. If you didn't provide a down payment of 20% or more, you probably were forced to pay for mortgage insurance; when you reach 20% equity in your home, you may be able to have the mortgage lender drop that insurance premium (and then you can apply that money to the principle as well).

Without knowing your budget or your financial position, though, there isn't much concrete advice we can offer you.

Do you really think an additional $20 a month will shave off 5yrs from my large balance? I don't pay MIP, our appraisal is $540K so we have alot of equity. But I did do something recently, I have consolidated our automobile, and I paid it off and a credit card(the only one we had) and I will be paying $800 a month to pay it off in about 30-35ms. I was thinking when its paid off (not telling my husband right away) cause he will find ways to spend it, but I was thinking I could try( for a few mos if I can) pay the $800 extra principle on our mtg, but anything can happen from now until then and really that is just dreaming. I am on a very tight budget so that I CAN pay extra anyway I can to pay things off, crazy but I would rather pay more on my bills and try to skimp on food at the grocery store. But Steve I will look into the diff of $20 or so that you mentioned, I might be getting a raise soon, so that might be a possibility. And luann if your out there, I would still like to hear from you! Thanks!

Create yourself an amortization table in Excel or whatever spreadsheet or personal financial software is available. Spreadsheet is easiest for playing with the figures to see what is the effect.

I've been paying an extra $700 each month since day 1, which has now been 18 months. If I can keep it up, I should be paid off in about 6 years total instead of 15. Or I could do a lump-sum payoff at some point, which is what I did on my first house.

I've never considered mortgage interest deduction to be a key point. It's a deduction against taxable income, not against tax due, so there's never a 100% benefit.

Before prepaying your mortgage, you need to calculate your after tax rate of the mortgage,based on your tax bracket..if you have a 5% mortgage,it is likely your after tax rate is lower then that, and you possibly could earn more by placing that additional sum of $$ in a savings/cd/money market account as rates are 4-5%

raelyn, I misread your note; it is the 13th payment you make each year (as a result of biweekly payments) that makes the biggest difference. With your mortgage, another $20 against principle will only get you six fewer mortgage payments over the years. I thought you were chopping five years off with just the $20 a month. I'm sorry .... If you can free up that $800 a month, realize it will take four months of those payments to roughly equal one extra mortgage payment.

Raelyn, it doesn't seem worth it IMO for you to pay any extra on your mortgage unless you have a specific reason to do so, especially because you say money is tight. Credit cards and other high-interest loans, yes, but your mortgage is probably the least expensive money you can borrow. The extra $20 will not make that much difference.

I felt the same way when I bought my first house and realized that if I doubled my P&I payments, I could pay it off in 5 years! A month or so of that was quite enough.

Houses are very expensive in our area. Our new mortgage will be about 2,100 a month. We paid off all of our other bills when we sold our other home.