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1106 E. SOUTH ST. | ||||||
% Down | 5% | 10% | 20% | 30% | ||
PRICE | $ 304,000.00 | $ 304,000.00 | $ 304,000.00 | $ 304,000.00 | ||
MORTGAGE AMOUNT | 288,800.00 | 273,600.00 | 243,200.00 | 212,800.00 | ||
DOWN PAYMENT | 15,200.00 | 30,400.00 | 60,800.00 | 91,200.00 | ||
CLOSING COSTS | 1,800.00 | 1,800.00 | 1,800.00 | 1,800.00 | ||
PREPAIDS | 1,810.39 | 1,810.39 | 1,810.39 | 1,810.39 | ||
POINTS | ||||||
*CASH REQUIRED | 18,810.39 | 34,010.39 | 64,410.39 | 94,810.39 | ||
INTEREST RATE | 6.500% | 6.500% | 6.500% | 6.500% | ||
Term | 30 yr | 30 yr | 30 yr | 30 yr | ||
MONTHLY PAYMENT | $1,825.41 | $1,729.34 | $1,537.19 | $1,345.04 | ||
REAL ESTATE TAXES (with deductions) | 30.20 | 30.20 | 30.20 | 30.20 | ||
**HOMEOWNERS INSURANCE | 125.00 | 125.00 | 125.00 | 125.00 | ||
***MORTGAGE INSURANCE | 120.33 | 91.20 | 00.0 | 00.0 | ||
TOTAL PAYMENT | $2,100.94 | $1,975.73 | $1,692.39 | $1,500.24 | ||
GROSS MONTHLY INCOME TO QUALIFY | $7,503.37 | $7,056.20 | $6,044.24 | $5,357.99 | ||
GROSS ANNUAL INCOME TO QUALIFY | $90,040.39 | $84,674.35 | $72,530.83 | $64,295.89 | ||
*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. |