#morgage

1- your interest is based on your deposit. So save up! The bigger your deposits the smaller the rate of interests is and less you have to take out.

2- it’s based off your household income and outcome. You have lots of loose change? Great! Mortgages are the probably actually easier for single people. I was told that the amount you can take out is 3x a single persons annual salary or 2x a couples annual salary. So I messed with some calculators:

Annual total salary for household 20k

Monthly spending= 200

Total annual salary for household=40k

Monthly spending =300

For both single and couple the monthly payments stayed the same.

I’m reading The Death and Life of Great American Cities.

you know, real urbanist NERD type shit!

THIS IS A BOOK PUBLISHED IN 1961

“a national mortgage market… Because of the certitude offered by government mortgage guarantees, a bank in New Haven could, would and does buy up mortgages on suburban housing in Southern California. A bank in Chicago buys up mortgages on suburban housing in Indianapolis one week, while an Indianapolis bank, the next week, buys them up for suburban housing outside Atlanta or Buffalo. ~Cont.~

Nor, nowadays, must thiese mortgages necessarily be government guaranteed. They can be a repetition, without the guarantees, of the kind of planing and building that is made routine and accepted by the guarantees.”

Jane Jabobs in nineteen-fucking-sixty-one