2007-01-28 23:01:05 · 11 answers · asked by dog 1 in Business & Finance ➔ Renting & Real Estate
70 k mortagage at interest rate of 5.5% will cost you around 400 pounds a month over 30 years.
Good luck
2007-01-28 23:09:59 · answer #1 · answered by toietmoi 6 · 1⤊ 0⤋
Figure about $7.00 per thousand dollars of what the price is of the home. This is with no money down. E.g. if the price of the home is $60,000 your monthly mortgage (principal, interest and PMI-Private mortgage insurance) would be $420.00. Taxes and insurance are extra so factor in approx. another $150 a month so a $60,000 home would cost you approx. $570 a month. That covers the loan, taxes and insurance. Now you have to calculate what your utilities are going to cost. Figure in another $300 a month for water, phone, gas & electric and cable. So basically be prepared to pay out just on your home $870 a month (for a 60K home). Hope this is helpful!!!
2007-01-29 05:05:33 · answer #2 · answered by Paul V 6 · 0⤊ 0⤋
You will need a large deposit so you can have mortgage payments of £400 pcm. Start saving!
2007-01-28 23:08:42 · answer #3 · answered by essdee 4 · 0⤊ 0⤋
depends on how much of a deposit you have, but payments of £1000 a month over 35 years gives you a mortgage for about £180,000
2007-01-28 23:05:51 · answer #4 · answered by dizzydogblack 2 · 0⤊ 0⤋
It is all dependent on the interest rates on your mortgage, but I would guess that for £400 a month you would get a mortgage for about £65,000. (don't forget your deposit on top)
2007-01-28 23:28:50 · answer #5 · answered by Boo 3 · 0⤊ 0⤋
well my friend and her bf have hust brought a one bedroom flat for 140,000 and there morgage payments are 750.
if you live in a council flat and want to buy it off the council then maybe.
i live in a hugh 2 bedrrom flat and we pay 600 a month rent.
seek advice on morgages
2007-01-28 23:08:36 · answer #6 · answered by viki S 4 · 0⤊ 0⤋
Nothing! A mortgage on a house is going to be around £600 a month.
2007-01-28 23:06:08 · answer #7 · answered by Anonymous · 0⤊ 2⤋
Not much. Depends on what kind of mortgage you want ie do you have a deposit, or would you be taking a 100% mortgage?
2007-01-28 23:04:38 · answer #8 · answered by OriginalBubble 6 · 0⤊ 0⤋
That would support a mortgage of £65,000. at current rates.
2007-01-28 23:11:15 · answer #9 · answered by Jack 6 · 0⤊ 0⤋
lmao. Buy a house in Bulgaria you cheapskate.
2007-01-28 23:08:51 · answer #10 · answered by Leo_B_Scotch 3 · 0⤊ 1⤋