By Ian Rohrer - August 13, 2024
Are you making your landlord wealthier than yourself?
Homeownership Costs:
Monthly mortgage payment: $1,500 (with a fixed interest rate).
Down payment: 10% of $250,000 ($25,000). (FHA (First-Time Buyer) loan as low as 3.5%)
Annual property appreciation: 3-6%
Annual property taxes and maintenance: 1.5% of the home value.
Renting Costs:
Monthly rent: $1,500 (with a 2% an