Quote:
Originally Posted by Kristi Hyson
Excellent listing!!!
Wondering if this Condo is affordable…Below are payment scenarios based on a 5% and 10% down payment, amortized over 30 years, 5 year closed at 3.29% (mortgage amount includes mortgage insurance).
$820,000 Purchase Price
$41,000 down payment @ 5%
$801,980 Total mortgage amount
$3,498 Monthly payment
$820,000 Purchase Price
$82,000 down payment @ 10%
$754,236 Total mortgage amount
$3,289 Monthly payment
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I really hope that someone that is buying a $820,000 condo can put down substantially more than $82,000. If not it just screams "stupid" to me. The definition of affordable varies depending on what you have in the ol' bank account.
I also have to say, the current owners choice of decor is really not doing any favours for the look of the unit. Especially in a modern building like Pontefino.