How to buy this house

1008 HOMEWOOD DR. – 3 BEDROOMS, 2 BATHS - $224,900.



1008 HOMEWOOD DRIVE

% Down	5%	10%	20%	30%
PRICE	$ 224,900.00	$ 224,900.00	$ 224,900.00	$ 224,900.00
MORTGAGE AMOUNT	213,655.00	202,410.00	179,920.00	157,430.00
DOWN PAYMENT	11,245.00	22,490.00	44,980.00	67,470.00
CLOSING COSTS	1,800.00	1,800.00	1,800.00	1,800.00
PREPAIDS	1,821.75	1,821.75	1,821.75	1,821.75
POINTS
*CASH REQUIRED	14,866.75	26,111.75	48,601.75	71,091.75
INTEREST RATE	6.500%	6.500%	6.500%	6.500%
Term	30 yr	30 yr	30 yr	30 yr
MONTHLY PAYMENT	$1,350.44	$1,279.37	$1,137.22	$995.06
REAL ESTATE TAXES (with deductions)	35.88	35.88	35.88	35.88
**HOMEOWNERS INSURANCE	125.00	125.00	125.00	125.00
***MORTGAGE INSURANCE	89.02	67.47	00.0	00.0
TOTAL PAYMENT	$1,600.34	$1,507.72	$1,298.09	$1,155.94
GROSS MONTHLY INCOME TO QUALIFY	$5,715.52	$5,384.70	$4,636.05	$4,128.36
GROSS ANNUAL INCOME TO QUALIFY	$68,586.19	$64,616.38	$55,632.58	$49,540.34

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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.*