Blog post by CZ:http://www.irvinehousingblog.com/blog/comments/the-village-and-the-budget
Quick example using $0 down:
$500k home at 4% 30yr fixed with $500 in combined Mello Roos/HOA
- Mortgage payment $2387
- Mello Roos/HOA $500
- Total $2887
$605k home at 4% 30yr fixed with $0 combined Mello Roos/HOA
- Mortgage pagement $2888
- Mello Roos/HOA $0
- Total $2888
Absolutely. With interest rates as low are they are, every $100 in HOA or Mello Roos is equivalent to $20k financed.Do HOA Dues and Mello Roos influence your decision?
Quick example using $0 down:
$500k home at 4% 30yr fixed with $500 in combined Mello Roos/HOA
- Mortgage payment $2387
- Mello Roos/HOA $500
- Total $2887
$605k home at 4% 30yr fixed with $0 combined Mello Roos/HOA
- Mortgage pagement $2888
- Mello Roos/HOA $0
- Total $2888