| Sales
Price |
154,900
|
|
|
|
|
|
| Tax Rate |
0.0267 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
147,155 |
139,410 |
123,920 |
118,400
|
|
|
| Annual interest |
5.625% |
5.625% |
5.625% |
6.250% |
|
|
| 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 |
847.11 |
802.52 |
713.35 |
729.01 |
|
|
| Property tax Payment |
344.65 |
344.65 |
344.65 |
344.65 |
|
|
| Mortgage Insurance Policy |
95.65 |
61.57 |
0.00 |
49.33 |
|
|
| Hazard Insurance |
58.25 |
55.18 |
49.05 |
46.87 |
|
|
| Total Monthly Mortgage
Payment |
1,345.66 |
1,263.93 |
1,107.06 |
1,169.86 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
4,805.93 |
4,514.04 |
3,953.78 |
4,034.00 |
|
|
| Max. Monthly Debts |
384.47 |
361.12 |
316.30 |
484.08 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,730.13 |
1,625.05 |
1,423.36 |
1,653.94 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
7,745.00 |
15,490.00 |
30,980.00 |
3,250.00 |
|
|
| Approx. Closing Costs |
3,109.55 |
3,032.10 |
2,877.20 |
2,356.50 |
|
|
| Approx. Prepaids |
2,730.53 |
2,618.00 |
2,332.54 |
2,106.87 |
|
|
| Total Dwn Pmt/Closing
Costs |
13,585.08 |
21,140.10 |
36,189.74 |
7,713.37 |
|
|
| Reserves Required |
4,036.98 |
2,527.86 |
2,214.12 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
|
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|
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|