| Sales
Price |
139,990
|
|
|
|
|
|
| Tax Rate |
0.0280 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
132,991 |
125,991 |
111,992 |
137,989
|
|
|
| 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 |
818.85 |
775.75 |
689.55 |
872.19 |
|
|
| Property tax Payment |
326.64 |
326.64 |
326.64 |
326.64 |
|
|
| Mortgage Insurance Policy |
86.44 |
55.65 |
0.00 |
57.50 |
|
|
| Hazard Insurance |
52.64 |
49.87 |
44.33 |
54.62 |
|
|
| Total Monthly Mortgage
Payment |
1,284.57 |
1,207.91 |
1,060.53 |
1,310.95 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
4,587.77 |
4,313.96 |
3,787.60 |
4,520.50 |
|
|
| Max. Monthly Debts |
367.02 |
345.12 |
303.01 |
542.46 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,651.60 |
1,553.03 |
1,363.54 |
1,853.41 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
6,999.50 |
13,999.00 |
27,998.00 |
4,040.00 |
|
|
| Approx. Closing Costs |
2,967.91 |
2,897.91 |
2,757.92 |
2,549.50 |
|
|
| Approx. Prepaids |
2,582.47 |
2,477.12 |
2,211.84 |
2,576.11 |
|
|
| Total Dwn Pmt/Closing
Costs |
12,549.87 |
19,374.03 |
32,967.76 |
9,165.61 |
|
|
| Reserves Required |
3,853.72 |
2,415.82 |
2,121.06 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
|
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|