| Sales
Price |
199,900
|
|
|
|
|
|
| Tax Rate |
0.0289 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
189,905 |
179,910 |
159,920 |
124,338
|
|
|
| Annual interest |
6.250% |
6.250% |
6.250% |
6.500% |
|
|
| Term (years) |
30 |
30 |
30 |
30 |
|
|
| Periods per year |
12 |
12 |
12 |
12 |
|
|
| No. of payments |
360 |
360 |
360 |
360 |
|
|
|
|
|
|
|
|
|
| Monthly Payment Analysis |
|
|
|
| Principal
Interest Payment |
1,169.28 |
1,107.74 |
984.65 |
785.90 |
|
|
| Property tax Payment |
481.43 |
481.43 |
481.43 |
481.43 |
|
|
| Mortgage Insurance Policy |
123.44 |
79.46 |
0.00 |
51.81 |
|
|
| Hazard Insurance |
75.17 |
71.21 |
63.30 |
49.22 |
|
|
| Total Monthly Mortgage
Payment |
1,849.31 |
1,739.84 |
1,529.38 |
1,368.35 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
6,604.69 |
6,213.70 |
5,462.08 |
4,718.44 |
|
|
| Max. Monthly Debts |
528.38 |
497.10 |
436.97 |
566.21 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
2,377.69 |
2,236.93 |
1,966.35 |
1,934.56 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
9,995.00 |
19,990.00 |
39,980.00 |
3,500.00 |
|
|
| Approx. Closing Costs |
3,537.05 |
3,437.10 |
3,237.20 |
2,415.00 |
|
|
| Approx. Prepaids |
3,732.63 |
3,582.21 |
3,203.40 |
2,314.70 |
|
|
| Total Dwn Pmt/Closing
Costs |
17,264.68 |
27,009.31 |
46,420.60 |
8,229.70 |
|
|
| Reserves Required |
5,547.94 |
3,479.67 |
3,058.76 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
|
|
|
|
|
|
|
|
|