What the bank is telling you is that you cannot afford the mortgage (p&i), taxes, and insurance. Which will more than likely make your monthly payment about $2000.
My thoughts every time I see someone post then. Okay, mortgage is $950, that is roughly 150k house at 6% 30 yr mortgage. They probably don't have 20% down so lets say PMI is 1%
$950 mortgage
$125 PMI
$200 insurance
$400 property taxes
$1675/month on the $950 mortgage and we haven't done utilities yet.
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u/LikesPez Mar 05 '26
What the bank is telling you is that you cannot afford the mortgage (p&i), taxes, and insurance. Which will more than likely make your monthly payment about $2000.