I recommend you speak with a reputable lender and have them run your scenario. From there they will be able to advise you on your options and payments.
If you need a referral to a lender please shoot me an email I would be happy to point you in the right direction.
Dual Licensed Real Estate Broker NV#62827 MA#9530304
NV Broker & Team Leader of The Adams Team at Rothwell Gornt Companies
MA Broker at Sankey Real Estate
I would be more than happy to assist you with your questions. What is the purchase price you seek? That will allow me to take a look at the loan to value of the scenario. Also, are you interested in conventional financing or FHA financing?
With a short phone call, and a quick application using the link below.....I can help you get all of your questions answered quickly and precisely so you can bid with confidence on you purchase. I look forward to hearing from you!
Check me out at the link below and get your free approval today!
Thank you for choosing City First Mortgage Services,
Nathan T. Kessler | Sr. Mortgage Loan Originator
City First Mortgage Services
8871 W Flamingo Rd Suite 202
Las Vegas, NV 89147
(C) 702.683.3126 | (F) 702.974.0848 | (O) 702-522-6743
Company NMLS # 3117 | Branch NMLS # 819501
Individual NMLS # 377217 NV #46175
I would like to provide a exact price/number but there are many factors to consider. Just to name a few the interest rate, how many years you want to finance, taxes and insurance to name a few.
I strongly recommend just as you should speak with a few realtors in determinng who you will work with, speak with several respected loan officers.
Hope This Helps !!
Realty One Group
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The good news is, your credit score is just fine and will allow you to qualify for either a conventional or an FHA loan at the current market rate. But it's impossible to say what your payments would be without knowing the price of the home you are looking at? Have you picked out a neighborhood or a specific property yet?
Just to give you an idea, if you are looking at a $100k home with $30k down payment on a conventional loan at 4.5% on a typical 30 year loan, your monthly principal and interest payment would be $355 a month plus about $83 a month in taxes and $25 a month for homeowner's insurance. That would be a total of $463 per month. (Monthly association fees would be extra.)
You can pretty much double that payment for a $200k home, except that you would also have an additional monthly mortgage insurance premium of about $74 because you would not have a full 20% down payment.
To get more exact figures, you would need to give us an exact home address and sales price. I have a great local lender that I can recommend to you that charges ZERO closing costs and had low interest rates. Feel free to contact us about that at: http://www.greatlasvegashomes.com/preferred-mortgage-lender.php
Hope this helps!
Berkshire Hathaway HomeServices
The Tonnesen Team - with over 30 years of experience helping families call Las Vegas "home!"