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AndrewsChick
Board Fanatic
Member since 3/03 399 total posts
Wedding Date:
9/20/2003 11:00 AM
Wed. Location:
Brentwood Country Club
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80/10/10 Mortgage Question - Personal Question
Very curios.........so I have to ask....if you do the 80/10/10 - 80% Mortgage, 10% Home Equity Loan and 10% down payment.....what are your monthly mortgage/home equity payments like???
I know this may be a very personal question, but I was hoping to get some ideas.
Thanks..
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Posted 11/21/03 4:13 PM 
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ddunne23
Wearing my Daddy's shirt!
Member since 7/02 2060 total posts
Wedding Date:
12/29/2002 12:00 AM
Wed. Location:
Milleridge Inn Carriage House
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Re: 80/10/10 Mortgage Question - Personal Question
It totally depends on the cost of the house.
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Posted 11/21/03 4:24 PM
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MarcellaBella
DIVALICIOUS MOM-TO-BE
Member since 7/02 7370 total posts
Wedding Date:
8/9/2003 12:00 AM
Wed. Location:
Grand Prospect Hall
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Re: 80/10/10 Mortgage Question - Personal Question
it depends on the total amount you are financing..
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Posted 11/21/03 4:45 PM
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antoinette
Reggie- my hero
Member since 5/02 1639 total posts
Wedding Date:
10/20/2002 12:00 AM
Wed. Location:
watermill , smithtown
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Re: 80/10/10 Mortgage Question - Personal Question
use a mortgage calculator online there are many websites that offer this so you can get an idea- But you have to have some kind of price range of the house and what you are going to be putting down.
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Posted 11/21/03 10:17 PM
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yabbobay
Tolerance
Member since 5/01 14697 total posts
Wedding Date:
7/14/2002 12:00 AM
Wed. Location:
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Re: 80/10/10 Mortgage Question - Personal Question
whatever the monthly payment is...I am almost positive it cannot be more than 40% of your gross total income...
so add up your salaries (gross...not net) and multiply by .4 -- this is the maximum monthly payment MOST banks will approve you for.
i could be wrong on the specifics...but it should be a good guideline
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Posted 11/22/03 3:51 AM
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peabody
LET'S DO IT AGAIN!!!
Member since 7/03 3197 total posts
Wedding Date:
10/1/2004 4:00 PM
Wed. Location:
Timber Point Country Club in Great River
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Re: 80/10/10 Mortgage Question - Personal Question
We did this. It depends on the amount you are financing. If you want more, FM me.
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Posted 11/22/03 12:37 PM
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Mandy77
Board Fanatic
Member since 6/03 440 total posts
Wedding Date:
8/28/2004 7:30 PM
Wed. Location:
Chateau Briand
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Re: 80/10/10 Mortgage Question - Personal Question
I'm a loan officer. If you give me numbers, I can let you know what your payments will be. FM me!
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Posted 11/24/03 9:34 AM
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Suzanne
We miss you Nicky.
Member since 7/02 10424 total posts
Wedding Date:
5/25/2002 12:00 AM
Wed. Location:
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Re: 80/10/10 Mortgage Question - Personal Question
I am thinking about doing the 80 10 10 too...
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Posted 11/24/03 1:22 PM
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