Monday, October 02, 2006

UNREAL ESTATE - Nine-Figure Homes

"Honey!?! Are you going to the post office? I need to send in the mortgage payment today. Oh, ok - good, I'm writing it now!"

So, the mortgage scenario for Trump's house, at $125,000,000 looks like this:

10% down - $12,500,000
Closing costs - roughly $3,600,000
Loan balance of $112,500,000 at 6.25% for 30 years - $692,681.85 per month (not including real estate taxes and insurance escrow).
And get the payments in on time, because late fees on that monthly payment would cost as much as a new Honda Civic.
UNREAL ESTATE By JESSICA GRESK, AP - New York Post Online Edition:

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