This home is a perfect example of the mortgage equity withdrawal machine. Let us assume they try to sell this home for $900,000. What would your mortgage look like? We should assume that you will have 20 percent to buy this place:
Down Payment: $180,000
Mortgage: $720,000
PI: $4,911 (assuming 7.25 percent jumbo 30 year financing)
TI: $937
Monthly Payment: $5,848
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