 |
bostonbubble.com
Boston Bubble - Boston Real Estate Analysis
|
|
SPONSORED LINKS
Advertise on Boston Bubble
Buyer brokers and motivated
sellers, reach potential buyers.
www.bostonbubble.com
YOUR AD HERE
|
|
DISCLAIMER: The information provided on this website and in the
associated forums comes with ABSOLUTELY NO WARRANTY, expressed
or implied. You assume all risk for your own use of the information
provided as the accuracy of the information is in no way guaranteed.
As always, cross check information that you would deem useful against
multiple, reliable, independent resources. The opinions expressed
belong to the individual authors and not necessarily to other parties.
|
| View previous topic :: View next topic |
| Author |
Message |
samz
Joined: 19 Feb 2008
Posts: 102
Location: Medford, MA
|
 Posted: Sat Apr 05, 2008 4:30 am GMT Post subject: ZipRealty "Estimated Monthly Payments" |
 |
|
Hello all,
This might be old news, but I was just playing around with ZipRealty's new web interface and I noticed their new emphasis on "Estimated Monthly Payments". So, I was looking at a house listed for $559K -- not that I can afford that -- but the "Estimated Monthly Payment" comes up as $2120! Say what?
Clicking on the link I found that the payment computation is based on a 5% interest rate with $50K down. But here's the kicker: in very fine, very gray print, I noticed the following qualification:
"This monthly payment calculation includes interest only. Mortgage payments may include principal, taxes, insurance, and other fees."
Wow. Mortgage payments *may* include taxes? And *may* include principal?
I used the "Rent vs Buy" calculator at dinkytown.net to compute the real monthly payment: $3700 (or, if you want to be generous, $3100 taking into account the mortgage interest tax deduction).
Honestly, this might be an all-new low for the industry. |
|
| Back to top |
|
 |
|
|
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
Forum posts are owned by the original posters.
Forum boards are Copyright 2005 - present, bostonbubble.com.
Privacy policy in effect.
Powered by phpBB © 2001, 2005 phpBB Group
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
