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Cake day: August 4th, 2023

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  • Tolos@lemmy.worldtome_irl@lemmy.worldMe_irl
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    4 days ago

    600k at 3%, you need 229k down (38%) to pay $2,025/mo (assuming extremely low property tax and insurance).

    850k at 8.5%, you need 40k down (4.71%) to pay $6,850/mo (assuming extremely low property tax and insurance).

    40k seems like a much more reasonable down payment…

    The 600k house at 3% with 40k down would be $2,821/mo. Almost $4k/mo difference from the 850k example.