According to Rent Jungle, the average rent for a two-bedroom apartment in Portland is $1821 per month. The monthly mortgage payment on a $300k home purchased with five percent down falls within the same monthly payment range. By the time you factor in the tax savings associated with the mortgage interest deduction, the net monthly … Continue reading In Portland, It Now Costs As Much to Rent As to Buy!
Most home buyers have been trained by the media to be highly focused on interest rate. As you will see below, changes in interest rate have less impact than purchase price and property taxes. Property taxes and purchase price have the largest impact on monthly payment, interest rate typically comes third, and homeowner’s insurance has … Continue reading Two Factors That Impact Your Mortgage More Than Interest Rates