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Came across a tiktok video where a woman pays only $1892/month on a 500K home. Wondering how this was possible?

I’m far from an expert but I’ve always been interested in real estate and browse homes for sale on Zillow often.

When you take into account, let’s say, a 20% down payment, interest rate, property tax and home insurance, on a 30 year mortgage, the monthly cost of a 500K seems like it would be a lot higher than $1,892. I know it definitely varies but I used the average cost breakdown of each category and the monthly cost should be somewhere around 3K, give or take.

Does anyone have an explanation as to how she’s paying so little? I’m just very curious, thank you!

I attached the link in the comment section.

submitted by /u/ChicagoChurro
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/k31u4o/came_across_a_tiktok_video_where_a_woman_pays/
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