| Sales
Price |
169,900
|
|
|
|
|
|
| Tax Rate |
0.0300 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
161,405 |
152,910 |
135,920 |
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 |
941.92 |
892.34 |
793.19 |
669.64 |
|
|
| Property tax Payment |
425.17 |
425.17 |
425.17 |
425.17 |
|
|
| Mortgage Insurance Policy |
104.91 |
67.54 |
0.00 |
45.32 |
|
|
| Hazard Insurance |
63.89 |
60.53 |
53.80 |
43.05 |
|
|
| Total Monthly Mortgage
Payment |
1,535.89 |
1,445.58 |
1,272.17 |
1,183.18 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
5,485.33 |
5,162.78 |
4,543.46 |
4,079.92 |
|
|
| Max. Monthly Debts |
438.83 |
413.02 |
363.48 |
489.59 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,974.72 |
1,858.60 |
1,635.65 |
1,672.77 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
8,495.00 |
16,990.00 |
33,980.00 |
2,840.00 |
|
|
| Approx. Closing Costs |
3,252.05 |
3,167.10 |
2,997.20 |
2,261.50 |
|
|
| Approx. Prepaids |
3,153.20 |
3,028.89 |
2,714.01 |
2,033.25 |
|
|
| Total Dwn Pmt/Closing
Costs |
14,900.25 |
23,185.99 |
39,691.21 |
7,134.75 |
|
|
| Reserves Required |
4,607.68 |
2,891.16 |
2,544.34 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
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|