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453 S. JACKSON ST. – 3 BEDROOMS, 2 BATHS - $56,500.



453 S. JACKSON ST.
(does not qualify for USDA or FHA)
USDA FHA
0 % Down 3.5% Down 5% Down 10% Down
PRICE  $    56,500.00  $    56,500.00  $    56,500.00  $   56,500.00
MORTGAGE AMOUNT           57,065.00           55,476.64           53,675.00         50,850.00
DOWN PAYMENT                          -               1,977.50             2,825.00            5,650.00
CLOSING COSTS             1,800.00             1,800.00             1,800.00            1,800.00
PREPAIDS             1,173.48             1,173.48             1,173.48            1,173.48
POINTS
*CASH REQUIRED             2,973.48             4,950.98             5,798.48            8,623.48
INTEREST RATE 4.125% 4.125% 4.125% 4.125%
MONTHLY PAYMENT 30 yrs $276.57 $268.87 $260.14 $246.44
REAL ESTATE TAXES (with deductions) 61.74                   61.74                   61.74                  61.74
**HOMEOWNERS INSURANCE 75.00 75.00 75.00 75.00
***MORTGAGE INSURANCE 11.89 36.98 35.78 27.33
TOTAL PAYMENT     $425.19 $442.59 $432.66 $410.52
GROSS MONTHLY INCOME TO QUALIFY $1,518.55 $1,580.69 $1,545.21 $1,466.13
GROSS ANNUAL INCOME TO QUALIFY $18,222.60 $18,968.22 $18,542.53 $17,593.55

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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

©2017 Dave Rodkey Realtors, Frankfort, IN