I just need a extimate so if you dont mind please pm me or post it here, location and monthly with taxes and insurance included if you can .

 

i doubt to many people in so cal will post thier mortgage payments.

its really going to depend where you are going to live (exact city) the exact cost of the house how much you have to put down and your credit.

no one will be able to give you a good ball park cuz everyone is in a different situation

and you can include impounds (taxes and insurance) in your mortgage payment when you close

 

i don't even know how people in socal own houses. waaayyy too expensive.

 

as 2cute said... there are a lot of variables

tax is about 1.25%

insurance is based mainly on square footage, but then there is location, pool, fireplace attached garage condo???? 1500 square foot home can be about 50-60 bucks a month and 2000 would be more like 75-80. you can call around for a quote, just give them an address or APN number

interest rates vary from day to day and credit rating and other terms can change your rates

a 300k home will run about 2200+/- a month on a 30 year fixed @ 6.25% taxes included... however each county and city have their own "special assessments" like mello roos (a way around prop 13)

also remember that all your interest paid can be written off on your taxes

 

just assume for every 100k you finance you will pay 1k a month. give or take but.....

 

thank you thats what i needed i am purchasing a home as of now here in Florida and this is what my situation looks like

30yr --6.25 VA--$150= 900-950 taxes and insurance depends on home and location are between 100-300 on top of mortgage

so as of now i am looking at a house built in 2002 4/2 going for $132,000 so iam guessing around 800-950 mortgage

i was asking because in case i get recalled back into service , i still want to keep my home, i can rent it out, but i have to see whats the avg mortgage in southern california too because if i get recalled i am going to do another 4 years and i am done paying rent i rather buy and invest

 

and if you're moving closer to work, I think you can write off something on your taxes. I don't remember how that crap worked. I barely passed my tax class.

 

id kill for a $130k house where i live........id buy 2 right now.....

 

shaddap. you failed that class.

 

dont forget the get outta jail free card.
pass Go, u dont get $200

 

On Military Salary buying a house in California ?? where.. in watts ??

Sorry man, I can barely afford my house and I make a lot of money compared to Head Programmers and Computer Simulation Specialists ($60-$80k/yr) when I lived in Fl.

 

well 10 years ago it might have been enough to buy a house here. but not anytime in the near future it wont unless you have A LOT to put down. like more than half the value of the house

 

Yep....this is the standard rule of thumb. Interest only can lower this though.

 

I asked the same question when I moved to SoCal 4 years ago.

Go talk to a tax accountant to find out how. It's actually pretty simple.....the interest you pay every month is tax deductible. The more the value of the house, the more you're paying in interest (and with an interest only loan, that's all you're paying). You basically change your W2 witholdings to accomodate this so that you end up with virtually NO taxes being withheld from your paycheck. At an annual salary of 80K that should put an extra 1K+ in your pocket every month which you use to bankroll your higher than everywhere else in the U.S. monthly mortgage payments. When you do your taxes at the end of the year and deduct the interest you paid, you basically end up with a little tax refund of 1-2K. If you don't change your witholding and you deduct your interest (like you should unless you're just a dolt), you'll end up with a 15K+ tax return. Why get that in one lump sum when you can spread it out over the year and use it to pay your mortgate every month?

 

interest only is a VERY bad idea. and i dont think you will be able to find an interest only loan very easily either......yay sub-prime loans. interest only is what ended so many people up in forclosure....

 

Well you could buy a 1 bedroom condo in Chula Juannia or Nasty City for around that right?

But you can assume that interest will be going up very soon, as the fed will probably raise rates to help stop the inflation that has started happening this month.

 

what the market is so low right now if you were to buy now is a good time before this down time goes right back up to a avg home price of 600,000

 

says who?

 

idk about right now......but they were over 500k for a while too.

and thats why i said if i could buy one where i live.......id buy 2.

i live in del mar/solana beach lol.

 

and they arent big , thats what i have been noticing, avg home 900-1100sqf in socal is around 260-360k

thats freaking nuts, and they were built in the 50s and 60s

a nice new home , 90 and up is at 500k plus

its not worth it!