COMPANY HISTORY
MEET THE TEAM
MISSION STATEMENT
NEW LISTINGS
WATERFRONT
RESIDENTIAL
LAND
INCOME PROPERTY
BEFORE YOU BUY
10 TIPS
Purchase & Financing Information
Sale Price of Home:
(In Dollars)
Percentage Down:
%
Length of Mortgage:
years
Annual Interest Rate:
%
Return To Property Details
Mortgage Payment Information
Down Payment:
$5,890.00
Amount Financed:
$53,010.00
Monthly Payment:
$317.82
(Principal & Interest ONLY)
Since you are putting LESS than 20% down, you will need to pay PMI (
Private Mortgage Insurance
), which tends to be about $55 per month for every $100,000 financed (until you have paid off 20% of your loan). This could add $29.16 to your monthly payment.
Monthly Payment:
$346.98
(Principal & Interest, and PMI)
Residential (or Property) Taxes are a little harder to figure out...
Let's say that your property's
assessed value
is 85% of what you actually paid for it - $50,065.00. This would mean that your yearly residential taxes will be around $700.91 This could add $58.41 to your monthly payment.
TOTAL Monthly Payment:
$405.39
(including PMI and residential tax)