Source of Funds
Gross equity$500,000
− Selling (6%)−$66,000
Net from sale$434,000
+ Cash$1,000,000
− Reserve−$100,000
− Closing−$62,500
Down payment$1,271,500
Purchase Terms
Purchase Price
$2,500,000
Down: $1,271,500 (50.9%) · Loan: $1,228,500
Total Monthly Housing
$10,897
$5,800 today → +$5,097/mo
Principal & Interest$7,564
$1,228,500 at 6.25% / 30yr
Property Tax$2,708
1.3% eff. · $32,500/yr
Insurance$125
HOA$500
40% DTI
Lender qualification
$326,923
28% Rule
Conservative comfort
$467,032
Note: +$5,097/mo (88% more). Stress-test against slower income months.
Price Brackets · Click to Select
| Price | Down | All-in | vs Now |
|---|
| 2000K | 64% | $7,200 | +$1,400 |
| 2250K | 57% | $9,049 | +$3,249 |
| 2500K | 51% | $10,897 | +$5,097 |
| 2750K | 46% | $12,746 | +$6,946 |
| 3000K | 42% | $14,595 | +$8,795 |
Monthly by Price
NJ Mansion Tax: 1% on $1M+. Hoboken's rate is low vs. NJ avg. Not financial advice.