| Sales
Price |
99,000
|
|
|
|
|
|
| Tax Rate |
0.0281 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
94,050 |
89,100 |
79,200 |
98,049 |
|
|
| 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 |
579.08 |
548.60 |
487.65 |
619.74 |
|
|
| Property tax Payment |
231.72 |
231.72 |
231.72 |
231.72 |
|
|
| Mortgage Insurance Policy |
61.13 |
39.35 |
0.00 |
40.85 |
|
|
| Hazard Insurance |
37.23 |
35.27 |
31.35 |
38.81 |
|
|
| Total Monthly Mortgage
Payment |
909.16 |
854.94 |
750.72 |
931.12 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
3,247.00 |
3,053.37 |
2,681.13 |
3,210.75 |
|
|
| Max. Monthly Debts |
259.76 |
244.27 |
214.49 |
385.29 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,168.92 |
1,099.21 |
965.21 |
1,316.41 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
4,950.00 |
9,900.00 |
19,800.00 |
2,400.00 |
|
|
| Approx. Closing Costs |
2,578.50 |
2,529.00 |
2,430.00 |
2,156.00 |
|
|
| Approx. Prepaids |
1,828.46 |
1,753.96 |
1,566.35 |
1,854.19 |
|
|
| Total Dwn Pmt/Closing
Costs |
9,356.96 |
14,182.96 |
23,796.35 |
6,410.19 |
|
|
| Reserves Required |
2,727.48 |
1,709.89 |
1,501.43 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
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|