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You are comparing houses in two towns in New Jersey. You have $100,000 for a down payment. The rate for a 30-year mortgage is 8%,
You are comparing houses in two towns in New Jersey. You have $100,000 for a down payment. The rate for a 30-year mortgage is 8%, and it requires a monthly payment.
House Comparison
House in Chatham House in South Orange
House Price $400,000 $300,000
Annual Property Tax $ 6,000 $ 12,000
The houses are approximately equivalent. Estimate the total payments (mortgage and property taxes) you would have to make on each house. Which house is more expensive?
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Mortgage Ripoffs And Money Savers
Authors: Carolyn Warren
1st Edition
0470097833, 978-0470097830
