How to buy this house

1353 E. CLINTON ST. – 3 BEDROOMS, 2.5 BATHS - $278,000.



1353 E. CLINTON ST.

% Down	5%	10%	20%	30%
PRICE	$ 278,000.00	$ 278,000.00	$ 278,000.00	$ 278,000.00
MORTGAGE AMOUNT	264,100.00	250,200.00	222,400.00	194,600.00
DOWN PAYMENT	13,900.00	27,800.00	55,600.00	83,400.00
CLOSING COSTS	1,800.00	1,800.00	1,800.00	1,800.00
PREPAIDS	2,136.35	2,136.35	2,136.35	2,136.35
POINTS
*CASH REQUIRED	17,836.35	31,736.35	59,536.35	87,336.35
INTEREST RATE	6.500%	6.500%	6.500%	6.500%
Term	30 yr	30 yr	30 yr	30 yr
MONTHLY PAYMENT	$1,669.29	$1,581.43	$1,405.72	$1,230.00
REAL ESTATE TAXES (with deductions)	193.18	193.18	193.18	193.18
**HOMEOWNERS INSURANCE	125.00	125.00	125.00	125.00
***MORTGAGE INSURANCE	110.04	83.40	00.0	00.0
TOTAL PAYMENT	$2,097.51	$1,983.01	$1,723.90	$1,548.18
GROSS MONTHLY INCOME TO QUALIFY	$7,491.11	$7,082.18	$6,156.77	$5,529.22
GROSS ANNUAL INCOME TO QUALIFY	$89,893.29	$84,986.18	$73,881.26	$66,350.62

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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.*