| Sales
Price |
239,990
|
|
|
|
|
|
| Tax Rate |
0.0289 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
227,991 |
215,991 |
191,992 |
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 |
1,312.44 |
1,243.37 |
1,105.21 |
729.01 |
|
|
| Property tax Payment |
577.98 |
577.98 |
577.98 |
577.98 |
|
|
| Mortgage Insurance Policy |
148.19 |
95.40 |
0.00 |
49.33 |
|
|
| Hazard Insurance |
90.25 |
85.50 |
76.00 |
46.87 |
|
|
| Total Monthly Mortgage
Payment |
2,128.86 |
2,002.23 |
1,759.19 |
1,403.18 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
7,603.06 |
7,150.84 |
6,282.81 |
4,838.56 |
|
|
| Max. Monthly Debts |
608.25 |
572.07 |
502.62 |
580.63 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
2,737.10 |
2,574.30 |
2,261.81 |
1,983.81 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
11,999.50 |
23,999.00 |
47,998.00 |
3,250.00 |
|
|
| Approx. Closing Costs |
3,917.91 |
3,797.91 |
3,557.92 |
2,356.50 |
|
|
| Approx. Prepaids |
4,362.47 |
4,188.13 |
3,745.84 |
2,106.87 |
|
|
| Total Dwn Pmt/Closing
Costs |
20,279.87 |
31,985.04 |
55,301.76 |
7,713.37 |
|
|
| Reserves Required |
6,386.57 |
4,004.47 |
3,518.37 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
|
|
|
|
|
|
|
|
|