| Sales
Price |
135,000
|
|
|
|
|
|
| Tax Rate |
0.0256 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
128,250 |
121,500 |
108,000 |
133,117
|
|
|
| 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 |
789.66 |
748.10 |
664.97 |
841.39 |
|
|
| Property tax Payment |
288.00 |
288.00 |
288.00 |
288.00 |
|
|
| Mortgage Insurance Policy |
83.36 |
53.66 |
0.00 |
55.47 |
|
|
| Hazard Insurance |
50.77 |
48.09 |
42.75 |
52.69 |
|
|
| Total Monthly Mortgage
Payment |
1,211.79 |
1,137.85 |
995.72 |
1,237.55 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
4,327.81 |
4,063.76 |
3,556.16 |
4,267.41 |
|
|
| Max. Monthly Debts |
346.22 |
325.10 |
284.49 |
512.09 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,558.01 |
1,462.95 |
1,280.22 |
1,749.64 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
6,750.00 |
13,500.00 |
27,000.00 |
3,850.00 |
|
|
| Approx. Closing Costs |
2,920.50 |
2,853.00 |
2,718.00 |
2,501.50 |
|
|
| Approx. Prepaids |
2,409.41 |
2,307.83 |
2,052.00 |
2,465.31 |
|
|
| Total Dwn Pmt/Closing
Costs |
12,079.91 |
18,660.83 |
31,770.00 |
8,816.81 |
|
|
| Reserves Required |
3,635.36 |
2,275.71 |
1,991.45 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
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|