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351 S. JACKSON ST. – 5 BEDROOMS, 2 BATHS - $117,000.



351 S. JACKSON ST.
% Down 5% 10% 20% 30%
PRICE  $  117,000.00  $  117,000.00  $  117,000.00  $ 117,000.00
MORTGAGE AMOUNT        111,150.00        105,300.00          93,600.00         81,900.00
DOWN PAYMENT             5,850.00          11,700.00          23,400.00         35,100.00
CLOSING COSTS             1,800.00             1,800.00             1,800.00           1,800.00
PREPAIDS             1,890.69             1,890.69             1,890.69           1,890.69
POINTS
*CASH REQUIRED             9,540.69          15,390.69          27,090.69         38,790.69
INTEREST RATE 3.000% 3.000% 3.000% 3.000%
Term 30 yr 30 yr 30 yr 30 yr
MONTHLY PAYMENT $468.61 $443.95 $394.62 $345.29
REAL ESTATE TAXES (with deductions)                  70.35                  70.35                  70.35                 70.35
**HOMEOWNERS INSURANCE 125.00 125.00 125.00 125.00
***MORTGAGE INSURANCE 74.10 56.60 00.0 00.0
TOTAL PAYMENT     $738.06 $695.89 $589.97 $540.64
GROSS MONTHLY INCOME TO QUALIFY $2,635.93 $2,485.34 $2,107.03 $1,930.86
GROSS ANNUAL INCOME TO QUALIFY $31,631.12 $29,824.05 $25,284.34 $23,170.30

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*Cash required includes first year insurance premium.
Your lender will require this to be paid before the closing or at the closing.
 
**Homeowners Insurance can be purchased from the agent you choose.
The figure above is estimated. See your agent for an accurate quote based on the coverage you want.
 
***Mortgage Insurance is coverage for the lender in case you default. Coverage and premium payment plan vary
from lender to lender. While the figure above is a close estimate, the actual amount will be determined by your lender.


*Information is Subject to change without notice.*


Email: dave@rodkey.com

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