The FOCUS on NoVA Real Estate Team explores what your monthly mortgage payment may be for an $825,000 property in Loudoun County’s South Riding neighborhood. Are you ready to turn your rent each month into equity? Don’t miss this video.

Hello everyone, this is Tracey Barrett with the FOCUS on NoVA Real Estate team and today we have our “What do you get for….?” series.

I’m in South Riding today and I’m looking at a listing here that is listed at $825,000.00. It is a four bedroom, four and a half bathroom property; three bathrooms on the upper level, one in the basement, and a half bath on the main level. There are three attached garages, the taxable square footage on this one is 3,662 square feet, and with the basement included, it is 5,300 square feet located on just over a half an acre of land. It is the Waverly model and was built in 2005.

So what do you get for $825,000.00? Using the George Mason Mortgage PITI, Principal Interest Taxes and Insurance calculator, assuming a 4% interest rate and a 30-year fixed-rate mortgage, if you put down 20%, or $165,000, your monthly payment will be $3,942.28. If you put down 10%, or $82,500, your monthly mortgage would be approximately $4,336.15. Plus there is a $78 per month HOA payment.

So are you paying rent? I s your rent in line with approximately what we reviewed here? If so, and you want to learn how to convert your rental dollars into equity, contact us at the FOCUS on NoVA Team today. Start making your money work for you.