| Sales
Price |
114,900
|
|
|
|
|
|
| Tax Rate |
0.0230 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
109,155 |
103,410 |
91,920 |
113,528
|
|
|
| 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 |
672.09 |
636.71 |
565.97 |
717.57 |
|
|
| Property tax Payment |
220.51 |
220.51 |
220.51 |
220.51 |
|
|
| Mortgage Insurance Policy |
70.95 |
45.67 |
0.00 |
47.30 |
|
|
| Hazard Insurance |
43.21 |
40.93 |
36.39 |
44.94 |
|
|
| Total Monthly Mortgage
Payment |
1,006.76 |
943.83 |
822.86 |
1,030.33 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
3,595.56 |
3,370.83 |
2,938.80 |
3,552.85 |
|
|
| Max. Monthly Debts |
287.64 |
269.67 |
235.10 |
426.34 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,294.40 |
1,213.50 |
1,057.97 |
1,456.67 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
5,745.00 |
11,490.00 |
22,980.00 |
3,050.00 |
|
|
| Approx. Closing Costs |
2,729.55 |
2,672.10 |
2,557.20 |
2,308.50 |
|
|
| Approx. Prepaids |
1,976.85 |
1,890.39 |
1,672.66 |
2,003.55 |
|
|
| Total Dwn Pmt/Closing
Costs |
10,451.40 |
16,052.49 |
27,209.86 |
7,362.05 |
|
|
| Reserves Required |
3,020.27 |
1,887.66 |
1,645.73 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
|
|
|
|
|
|
|
|
|