Worried about the minimum credit score needed for home loan programs in Compton and other California areas? There are many different home loan and refinance programs available for different credit situations.
FHA home loans and mortgages are a great solution for home buyers in Compton and other California areas. If you have damaged credit or unestablished credit FHA home loans are an excellent home mortgage
Your (3.5%) down payment is calculated on the selling price ($205,000).
The 3% Closing Costs could be calculated on selling price or mortgage amount. Ask you Realtor about it.
Assuming the you have an FHA mortgage, you mortgage amount will be,
3.5% = 7,175
and if you are rolling over the Up Front Mortgage insurance, that I believe is 1.75%, please correct me anyone if I am wrong, then $1,508
So, your ESTIMATE mortgage amount will be: $199,333.
But, PLEASE, contact your Home mortgage Consultant for a detail explanation of your mortgage expenses based on the specific property and exact closing date.... more