One of the most common questions I hear from prospective buyers who love Jenkintown is: can I actually afford this? And the honest answer — at least for unit 229S at Beaver Hill — is that more buyers can than they think. Here is a clear-eyed look at the numbers.
The Purchase Price: $230,000
Unit 229S is listed at $230,000. This puts it in a category that is genuinely accessible for buyers across a wide range of income levels and savings situations.
Down Payment Scenarios
3% down (conventional with PMI): $6,900 down, mortgage on ~$223,100
5% down: $11,500 down, mortgage on ~$218,500
10% down: $23,000 down, mortgage on $207,000
20% down (no PMI): $46,000 down, mortgage on $184,000
First-time buyer programs may offer additional assistance with down payment and closing costs. Shaina can connect you with lenders who specialize in this market and know the available programs.
Monthly Cost Scenarios
At 10% down and current 30-year fixed rates, principal and interest runs roughly $1,300-$1,400/month. Add the $943 condo fee and your all-in housing cost is approximately $2,250-$2,350/month — with all utilities, maintenance, pool, doorman, and HVAC servicing included.
That is the complete housing budget. No surprises.
The Income Picture
At an all-in housing cost of approximately $2,300/month, a household income of $75,000-$80,000 or above puts this purchase within generally accepted affordability ratios. In many dual-income young professional households or for single professionals in mid-career, this is very achievable.
Find out if you qualify — talk to Shaina and her lending partners today:
Shaina McAndrews | MontCo Living | eXp Realty | 215-767-7150
