| Sales
Price |
214,900
|
|
|
|
|
|
| Tax Rate |
0.0269 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
204,155 |
193,410 |
171,920 |
108,757
|
|
|
| Annual interest |
5.750% |
5.750% |
5.750% |
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 |
1,191.39 |
1,128.69 |
1,003.28 |
669.64 |
|
|
| Property tax Payment |
481.73 |
481.73 |
481.73 |
481.73 |
|
|
| Mortgage Insurance Policy |
132.70 |
85.42 |
0.00 |
45.32 |
|
|
| Hazard Insurance |
80.81 |
76.56 |
68.05 |
43.05 |
|
|
| Total Monthly Mortgage
Payment |
1,886.64 |
1,772.40 |
1,553.06 |
1,239.74 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
6,738.00 |
6,330.01 |
5,546.66 |
4,274.95 |
|
|
| Max. Monthly Debts |
539.04 |
506.40 |
443.73 |
512.99 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
2,425.68 |
2,278.80 |
1,996.80 |
1,752.73 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
10,745.00 |
21,490.00 |
42,980.00 |
2,840.00 |
|
|
| Approx. Closing Costs |
3,679.55 |
3,572.10 |
3,357.20 |
2,261.50 |
|
|
| Approx. Prepaids |
3,820.21 |
3,662.97 |
3,264.69 |
2,033.25 |
|
|
| Total Dwn Pmt/Closing
Costs |
18,244.76 |
28,725.07 |
49,601.89 |
7,134.75 |
|
|
| Reserves Required |
5,659.92 |
3,544.81 |
3,106.13 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
|
|
|
|
|
|
|
|
|