| Sales
Price |
164,500
|
|
|
|
|
|
| Tax Rate |
0.0289 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
156,275 |
148,050 |
131,600 |
161,842
|
|
|
| Annual interest |
5.875% |
5.875% |
5.875% |
6.125% |
|
|
| 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 |
924.43 |
875.77 |
778.46 |
983.37 |
|
|
| Property tax Payment |
396.17 |
396.17 |
396.17 |
396.17 |
|
|
| Mortgage Insurance Policy |
101.58 |
65.39 |
0.00 |
67.43 |
|
|
| Hazard Insurance |
61.86 |
58.60 |
52.09 |
64.06 |
|
|
| Total Monthly Mortgage
Payment |
1,484.03 |
1,395.93 |
1,226.73 |
1,511.03 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
5,300.12 |
4,985.48 |
4,381.16 |
5,210.46 |
|
|
| Max. Monthly Debts |
424.01 |
398.84 |
350.49 |
625.26 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,908.04 |
1,794.77 |
1,577.22 |
2,136.29 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
8,225.00 |
16,450.00 |
32,900.00 |
5,050.00 |
|
|
| Approx. Closing Costs |
3,200.75 |
3,118.50 |
2,954.00 |
2,784.50 |
|
|
| Approx. Prepaids |
3,022.79 |
2,901.57 |
2,594.99 |
3,051.07 |
|
|
| Total Dwn Pmt/Closing
Costs |
14,448.54 |
22,470.07 |
38,448.99 |
10,885.57 |
|
|
| Reserves Required |
4,452.10 |
2,791.87 |
2,453.45 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
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|