| Sales
Price |
126,200
|
|
|
|
|
|
| Tax Rate |
0.0302 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
119,890 |
113,580 |
100,960 |
124,541
|
|
|
| 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 |
738.18 |
699.33 |
621.63 |
787.18 |
|
|
| Property tax Payment |
317.69 |
317.69 |
317.69 |
317.69 |
|
|
| Mortgage Insurance Policy |
77.93 |
50.16 |
0.00 |
51.89 |
|
|
| Hazard Insurance |
47.46 |
44.96 |
39.96 |
49.30 |
|
|
| Total Monthly Mortgage
Payment |
1,181.26 |
1,112.14 |
979.28 |
1,206.06 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
4,218.77 |
3,971.94 |
3,497.42 |
4,158.82 |
|
|
| Max. Monthly Debts |
337.50 |
317.75 |
279.79 |
499.06 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,518.76 |
1,429.90 |
1,259.07 |
1,705.12 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
6,310.00 |
12,620.00 |
25,240.00 |
3,500.00 |
|
|
| Approx. Closing Costs |
2,836.90 |
2,773.80 |
2,647.60 |
2,417.00 |
|
|
| Approx. Prepaids |
2,397.74 |
2,302.77 |
2,063.62 |
2,425.26 |
|
|
| Total Dwn Pmt/Closing
Costs |
11,544.64 |
17,696.57 |
29,951.22 |
8,342.26 |
|
|
| Reserves Required |
3,543.77 |
2,224.28 |
1,958.56 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
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|