238 W. COUNTY ROAD 425 N | ||||||
% Down | 5% | 10% | 20% | 30% | ||
PRICE | $ 223,000.00 | $ 223,000.00 | $ 223,000.00 | $ 223,000.00 | ||
MORTGAGE AMOUNT | 211,850.00 | 200,700.00 | 178,400.00 | 156,100.00 | ||
DOWN PAYMENT | 11,150.00 | 22,300.00 | 44,600.00 | 66,900.00 | ||
CLOSING COSTS | 1,800.00 | 1,800.00 | 1,800.00 | 1,800.00 | ||
PREPAIDS | 2,337.45 | 2,337.45 | 2,337.45 | 2,337.45 | ||
POINTS | ||||||
*CASH REQUIRED | 15,287.45 | 26,437.45 | 48,737.45 | 71,037.45 | ||
INTEREST RATE | 6.750% | 6.750% | 6.750% | 6.750% | ||
Term | 30 yr | 30 yr | 30 yr | 30 yr | ||
MONTHLY PAYMENT | $1,374.06 | $1,301.74 | $1,157.10 | $1,012.46 | ||
REAL ESTATE TAXES (with deductions) | 118.72 | 118.72 | 118.72 | 118.72 | ||
**HOMEOWNERS INSURANCE | 150.00 | 150.00 | 150.00 | 150.00 | ||
***MORTGAGE INSURANCE | 88.27 | 66.90 | 00.0 | 00.0 | ||
TOTAL PAYMENT | $1,731.05 | $1,637.36 | $1,425.82 | $1,281.18 | ||
GROSS MONTHLY INCOME TO QUALIFY | $6,182.32 | $5,847.71 | $5,092.22 | $4,575.66 | ||
GROSS ANNUAL INCOME TO QUALIFY | $74,187.82 | $70,172.56 | $61,106.67 | $54,907.93 | ||
*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. |