| Sales
Price |
109,990
|
|
|
|
|
|
| Tax Rate |
0.0272 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
104,491 |
98,991 |
87,992 |
108,757
|
|
|
| Annual interest |
6.000% |
6.000% |
6.000% |
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 |
626.47 |
593.50 |
527.56 |
669.64 |
|
|
| Property tax Payment |
249.21 |
249.21 |
249.21 |
249.21 |
|
|
| Mortgage Insurance Policy |
67.92 |
43.72 |
0.00 |
45.32 |
|
|
| Hazard Insurance |
41.36 |
39.18 |
34.83 |
43.05 |
|
|
| Total Monthly Mortgage
Payment |
984.96 |
925.62 |
811.60 |
1,007.21 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
3,517.72 |
3,305.77 |
2,898.56 |
3,473.15 |
|
|
| Max. Monthly Debts |
281.42 |
264.46 |
231.88 |
416.78 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,266.38 |
1,190.08 |
1,043.48 |
1,423.99 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
5,499.50 |
10,999.00 |
21,998.00 |
2,840.00 |
|
|
| Approx. Closing Costs |
2,682.91 |
2,627.91 |
2,517.92 |
2,261.50 |
|
|
| Approx. Prepaids |
1,984.97 |
1,903.35 |
1,697.21 |
2,033.25 |
|
|
| Total Dwn Pmt/Closing
Costs |
10,167.38 |
15,530.26 |
26,213.13 |
7,134.75 |
|
|
| Reserves Required |
2,954.89 |
1,851.23 |
1,623.19 |
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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|
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|