| Estimate Only | |||||||
| Income | Gross | Debt | Max. PITI/G | Max. PITI/D | |||
| $87,000.00 | $600.00 | $2,030.00 | $2,010.00 | ||||
| Nos of year | 30 | ||||||
| Taxes = @ | $2,500.00 | ||||||
| Hazard Insurance = @ | $780.00 | ||||||
| Association fees | $0.00 | + mip | |||||
| Interest rate | P I | PITI (Principle, Interest, Taxes, Insurance) | |||||
| Purchase Price | $250,000.00 | 8.00% | 1650.97 | $1,924.30 | 2007 | ||
| Downpayment | $25,000.00 | 8.25% | 1690.35 | $1,963.68 | 2046 | ||
| Loan amount | $225,000.00 | 8.50% | 1730.06 | $2,003.39 | 2086 | ||
| 9.00% | 1810.40 | $2,083.73 | 2166 | ||||
| PI payment per $1000 | |||||||
| 8.00% | 7.34 | ||||||
| 8.25% | 7.51 | ||||||
| PI Payment based on $1000 | $1,000.00 | 8.50% | 7.69 | ||||
| EXAMPLE ONLY | |||||||
| Estimated Cash Needed To Purchase | $250,000.00 | 10% downpayment | |||||
| Down Payment | 25000.00 | ||||||
| % of mnth payment | 825.49 | Closing on 15th of month | |||||
| origination fee 1. | 2250.00 | ||||||
| Discount Fee 1% | 0.00 | ||||||
| SUBTOTAL | $28,075.49 | ||||||
| MIP | 1,125.00 | ||||||
| Loan processing and Garbage Fees | 775.00 | ||||||
| Title Closing | 75.00 | ||||||
| Appraisal | 350.00 | ||||||
| Credit Report 45 per person | 90.00 | ||||||
| Recording Fees | 25.00 | ||||||
| Tax Certificate | 15.00 | ||||||
| Doc Fee | 25.00 | ||||||
| Hazard Insurance | 780.00 | ||||||
| Insurance Escrow | 130.00 | ||||||
| Tax Escrow | 416.67 | ||||||
| Mortgagees Title Policy | 90.00 | ||||||
| Association Escrow | 0.00 | ||||||
| Survey (improvement) | 95.00 | ||||||
| Inspection Fee | 225.00 | ||||||
| Radon Test | 75.00 | ||||||
| SUBTOTAL..................... | 4291.67 | ||||||
| TOTAL | 32367.15 |
Last Updated on 1/29/97
By Vann Hilty