If you were to buy a house locally at the current median price of $625,000 and had 10% deposit, then you would need a mortgage for $562,500. This is a very large mortgage compared to state.
MANSFIELD 4122 has seen not much change in it’s population over the last five years.
Across the nation mortgage brokers have seen home loan repayments rise from census to census. Mortgage repayments in MANSFIELD, 4122 rank at number 416th in State or 1228th nationally when listed in order of median monthly mortgage payment.
Although an increase in household income doesn’t necessarily mean more disposable income, over the 5 year census period, mortgage holders in MANSFIELD, 4122 should have seen some difference. While the latest census median annual household figure income is now $75,556, it was $60,434 back in 2006, which is a net increase of $15,121 Subtract from that the median mortgage repayment increase of $8,034 and a mortgage broker’s clients could be up to $7,087 better off each year even without factoring in mortgage rate cuts.