SEPTEMBER 2, 2010 3:10AM

COULD YOU SWING A REALLY BIG MORTGAGE?

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Hmmm...  News item:  Tiger Woods "takes out" a $54.5  million home loan.

Think about that for a moment and compare your housing costs to his:

Assuming that Tiger could get a 30-year fixed rate mortgage that might be considered a JUMBO, JUMBO loan, at 4.625%, it means his monthly principle and interest payment would be about $280,206.

It is wonderful that he has an income stream that allows that to happen.

However, I wonder about why Tiger feels that he must choose such  ostentatious and opulent housing.  Clearly, there are dozens of nice mansion-type houses for sale in that area of Florida, and those cost substantially less.

 

 

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housing, mortgages

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