| Sales
Price |
156,990
|
|
|
|
|
|
| Tax Rate |
0.0260 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
149,141 |
141,291 |
125,592 |
98,049 |
|
|
| Annual interest |
5.750% |
5.750% |
5.750% |
6.500% |
|
|
| 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 |
870.34 |
824.54 |
732.92 |
619.74 |
|
|
| Property tax Payment |
340.15 |
340.15 |
340.15 |
340.15 |
|
|
| Mortgage Insurance Policy |
96.94 |
62.40 |
0.00 |
40.85 |
|
|
| Hazard Insurance |
59.03 |
55.93 |
49.71 |
38.81 |
|
|
| Total Monthly Mortgage
Payment |
1,366.46 |
1,283.01 |
1,122.78 |
1,039.55 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
4,880.23 |
4,582.19 |
4,009.93 |
3,584.64 |
|
|
| Max. Monthly Debts |
390.42 |
366.57 |
320.79 |
430.16 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,756.88 |
1,649.59 |
1,443.57 |
1,469.70 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
7,849.50 |
15,699.00 |
31,398.00 |
2,400.00 |
|
|
| Approx. Closing Costs |
3,129.41 |
3,050.91 |
2,893.92 |
2,156.00 |
|
|
| Approx. Prepaids |
2,755.44 |
2,640.57 |
2,349.62 |
1,854.19 |
|
|
| Total Dwn Pmt/Closing
Costs |
13,734.34 |
21,390.48 |
36,641.54 |
6,410.19 |
|
|
| Reserves Required |
4,099.39 |
2,566.02 |
2,245.56 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
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|