| Sales
Price |
99,990
|
|
|
|
|
|
| Tax Rate |
0.0280 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
94,991 |
89,991 |
79,992 |
99,013
|
|
|
| Annual interest |
6.250% |
6.250% |
6.250% |
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 |
584.87 |
554.09 |
492.52 |
625.83 |
|
|
| Property tax Payment |
233.31 |
233.31 |
233.31 |
233.31 |
|
|
| Mortgage Insurance Policy |
61.74 |
39.75 |
0.00 |
41.26 |
|
|
| Hazard Insurance |
37.60 |
35.62 |
31.66 |
39.19 |
|
|
| Total Monthly Mortgage
Payment |
917.53 |
862.77 |
757.50 |
939.59 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
3,276.88 |
3,081.31 |
2,705.35 |
3,239.96 |
|
|
| Max. Monthly Debts |
262.15 |
246.51 |
216.43 |
388.80 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,179.68 |
1,109.27 |
973.93 |
1,328.38 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
4,999.50 |
9,999.00 |
19,998.00 |
2,440.00 |
|
|
| Approx. Closing Costs |
2,587.91 |
2,537.91 |
2,437.92 |
2,165.50 |
|
|
| Approx. Prepaids |
1,844.57 |
1,769.32 |
1,579.84 |
1,870.37 |
|
|
| Total Dwn Pmt/Closing
Costs |
9,431.97 |
14,306.23 |
24,015.76 |
6,475.87 |
|
|
| Reserves Required |
2,752.58 |
1,725.54 |
1,515.00 |
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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|
|