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mortgage down payment calculator

August 9th, 2010 by admin


Have a question about the monthly mortgage payment …?

Well, bought my first house, so sorry if it a stupid question. I saw the mortgage calculators that you put in the cost estimate of your home and the down payment and you gives your monthly cost. and they say that the amount does not include insurance or other charges. then wondered how many months are these other costs? as if it expressed the view monthy payment is $ 850 my, how can I really expect to pay with all these other charges. oh and also how much money other than the down payment I expect to pay in advance, such as closing costs, and everything that exists? All right, thank you

Well this issue is so difficult to answer not knowing where you live or values. I'll give you some advice. First-time buyers normally a deposit% 3. will affect your MI Premium. If you go FHA with 1.5% of the initial mortgage insurance. Which is added to your loan. Then his .5% of your mortgage. So say its 100,000 loans. They added 1.5% to the credit and your monthly payment would be about $ 42 per month for loan insurance FHA mortgage. FHA is still the same reqardless that you drop it. Its 1.5% and 0.5% monthly, divided for a year. Now, suppose that the classics. It will change 97,95,90,85% of your deposit. You put 3% from your rate will be one thing. You put 5% this will be another. Http: / / www.mgic.com / is / html / ratefinder.html that will tell you the rate. When calculating this option if you want to play your coverage will be 35%. When he asks for it. A 100K im showing $ 80 per month. His most expensive monthly FHA, but you have to advance payment that is less expensive. insurance risk I use 0.3% of the value of the house. I would say that $ 300 per year. Thus $ 25 per month (assuming you're not in a flood zone) Tax .8% so I use 800 per year while 66.66 per month. This is based on a loan $ 100,000. If you use these numbers they will not be accurate, but should be close. Thus, my example lets say you do $ 100,000 loan at 5.75% rate. Here is your distribution. 583 principal and interest 66 82 Taxes Mortgage insurance (assuming that 3% down and no FHA) 25 insurance risk. Its basically going to always be around% more of your payment. Good luck 25-30.

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