 |
|
| 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: |
$24,950.00 |
| Amount Financed: |
$474,050.00 |
| Monthly Payment: |
$2,544.80
(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 $260.73 to your monthly payment.
|
| Monthly Payment: |
$2,805.53
(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 - $424,150.00. This would mean that your yearly residential taxes will be around $5,938.10 This could add $494.84 to your monthly payment.
|
TOTAL Monthly Payment: |
$3,300.37
(including PMI and residential tax)
|
