How to buy this house

862 S. JACKSON ST. – 3 BEDROOMS, 1 BATH - $210,000.



1008 HOMEWOOD DRIVE

% Down	5%	10%	20%	30%
PRICE	$ 194,900.00	$ 194,900.00	$ 194,900.00	$ 194,900.00
MORTGAGE AMOUNT	185,155.00	175,410.00	155,920.00	136,430.00
DOWN PAYMENT	9,745.00	19,490.00	38,980.00	58,470.00
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	13,366.75	23,111.75	42,601.75	62,091.75
INTEREST RATE	6.500%	6.500%	6.500%	6.500%
Term	30 yr	30 yr	30 yr	30 yr
MONTHLY PAYMENT	$1,170.31	$1,108.71	$985.52	$862.33
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	77.15	58.47	00.0	00.0
TOTAL PAYMENT	$1,408.33	$1,328.06	$1,146.40	$1,023.21
GROSS MONTHLY INCOME TO QUALIFY	$5,029.75	$4,743.06	$4,094.28	$3,654.31
GROSS ANNUAL INCOME TO QUALIFY	$60,357.01	$56,916.74	$49,131.31	$43,851.73

Return to House Details

*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.*