| Sales
Price |
114,990
|
|
|
|
|
|
| Tax Rate |
0.0288 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
109,241 |
103,491 |
91,992 |
113,629
|
|
|
| Annual interest |
5.875% |
5.875% |
5.875% |
6.250% |
|
|
| 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 |
646.20 |
612.19 |
544.17 |
699.63 |
|
|
| Property tax Payment |
275.98 |
275.98 |
275.98 |
275.98 |
|
|
| Mortgage Insurance Policy |
71.01 |
45.71 |
0.00 |
47.35 |
|
|
| Hazard Insurance |
43.24 |
40.97 |
36.41 |
44.98 |
|
|
| Total Monthly Mortgage
Payment |
1,036.42 |
974.84 |
856.56 |
1,067.93 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
3,701.51 |
3,481.56 |
3,059.13 |
3,682.53 |
|
|
| Max. Monthly Debts |
296.12 |
278.53 |
244.73 |
441.90 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,332.54 |
1,253.36 |
1,101.29 |
1,509.84 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
5,749.50 |
11,499.00 |
22,998.00 |
3,040.00 |
|
|
| Approx. Closing Costs |
2,730.41 |
2,672.91 |
2,557.92 |
2,309.50 |
|
|
| Approx. Prepaids |
2,110.14 |
2,025.41 |
1,811.09 |
2,171.14 |
|
|
| Total Dwn Pmt/Closing
Costs |
10,590.04 |
16,197.32 |
27,367.01 |
7,520.64 |
|
|
| Reserves Required |
3,109.27 |
1,949.68 |
1,713.11 |
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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|