| Sales
Price |
106,000
|
|
|
|
|
|
| Tax Rate |
0.0269 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
100,700 |
95,400 |
84,800 |
104,850
|
|
|
| Annual interest |
5.250% |
5.250% |
5.250% |
5.500% |
|
|
| 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 |
556.07 |
526.80 |
468.27 |
595.32 |
|
|
| Property tax Payment |
237.62 |
237.62 |
237.62 |
237.62 |
|
|
| Mortgage Insurance Policy |
65.46 |
42.14 |
0.00 |
43.69 |
|
|
| Hazard Insurance |
39.86 |
37.76 |
33.57 |
41.50 |
|
|
| Total Monthly Mortgage
Payment |
899.00 |
844.32 |
739.45 |
918.13 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
3,210.72 |
3,015.42 |
2,640.90 |
3,165.97 |
|
|
| Max. Monthly Debts |
256.86 |
241.23 |
211.27 |
379.92 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,155.86 |
1,085.55 |
950.72 |
1,298.05 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
5,300.00 |
10,600.00 |
21,200.00 |
2,700.00 |
|
|
| Approx. Closing Costs |
2,645.00 |
2,592.00 |
2,486.00 |
2,223.00 |
|
|
| Approx. Prepaids |
1,842.37 |
1,767.02 |
1,574.98 |
1,952.28 |
|
|
| Total Dwn Pmt/Closing
Costs |
9,787.37 |
14,959.02 |
25,260.98 |
6,875.28 |
|
|
| Reserves Required |
2,697.00 |
1,688.63 |
1,478.90 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
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|