| Sales
Price |
126,000
|
|
|
|
|
|
| Tax Rate |
0.0260 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
5% Down |
10% Down |
20% Down |
FHA |
|
|
| Loan Information |
|
|
|
| Principal/Amount Financed |
119,700 |
113,400 |
100,800 |
124,338
|
|
|
| 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 |
737.01 |
698.22 |
620.64 |
785.90 |
|
|
| Property tax Payment |
273.00 |
273.00 |
273.00 |
273.00 |
|
|
| Mortgage Insurance Policy |
77.81 |
50.09 |
0.00 |
51.81 |
|
|
| Hazard Insurance |
47.38 |
44.89 |
39.90 |
49.22 |
|
|
| Total Monthly Mortgage
Payment |
1,135.20 |
1,066.20 |
933.54 |
1,159.92 |
|
|
|
|
|
|
|
|
|
| Income/Debt Analysis |
|
|
|
| Income to
Qualify |
4,054.28 |
3,807.84 |
3,334.08 |
3,999.73 |
|
|
| Max. Monthly Debts |
324.34 |
304.63 |
266.73 |
479.97 |
|
|
| Total Monthly Debt &
Mortgage Pmt |
1,459.54 |
1,370.82 |
1,200.27 |
1,639.89 |
|
|
|
|
|
|
|
|
|
| Closing Cost Analysis |
|
|
|
| Required
Initial Down Payment |
6,300.00 |
12,600.00 |
25,200.00 |
3,500.00 |
|
|
| Approx. Closing Costs |
2,835.00 |
2,772.00 |
2,646.00 |
2,415.00 |
|
|
| Approx. Prepaids |
2,261.39 |
2,166.57 |
1,927.80 |
2,314.70 |
|
|
| Total Dwn Pmt/Closing
Costs |
11,396.39 |
17,538.57 |
29,773.80 |
8,229.70 |
|
|
| Reserves Required |
3,405.60 |
2,132.39 |
1,867.09 |
N/A |
|
|
| Settlement
costs above are an estimate only |
3 mo. |
2 mo. |
2 mo. |
N/A |
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|