Question Details

Honeylamb, Home Buyer in Acworth, GA

If a house is $115,000 how much would the monthly payments costs, including taxes and mortgage insurance?

Asked by Honeylamb, Acworth, GA Tue Jan 5, 2010

Help the community by answering this question:


how much are the closing costs on a financed condominium of 115,000.00
0 votes Thank Flag Link Fri Jan 9, 2015
Hi Honeylamb,
The first place I would go to is a Local Lender that is a direct lender. Like The BofA, Chase, or Wells, or Quicken Loans.
Then you need to find out the percent of property taxes for that county.
In Southern California I will give you a rough idea, but the one thing many fail to say.
Please Don't Forget the CLOSING COSTS!
In the area I represent, a rough estimate is on my website to give an idea.
Here again I hope you contact a local lender to help you.

I wish you the best in your transaction

Harold Sharpe
So Cal Homes Realty
0 votes Thank Flag Link Wed Jan 6, 2010
Let's say you get a FHA loan and put the minimum FHA loan down payment of 3.5% down. Let's assume your interest rate is 4.75%.

-property taxes:$119/mo (this is a very rough estimate, check your local county property taxes for specifi)
-home insurance:$50 (this is a very rough est. call a insurance agent for a quote)
-FHA mortgage insurance:$51/mo
Total housing payment:$809/mo
0 votes Thank Flag Link Wed Jan 6, 2010
Hi Honeylamb:

Since you know your situation better than anyone else, I would suggest you check into an online calculator like the one at CNN (referenced below). However, before you go any further than that, you should check with a mortgage broker who can tell you if you qualify for a loan on the property.
0 votes Thank Flag Link Tue Jan 5, 2010
You need to give a few more details, such as how much you are planning to put down. Also, seeing as you are asking about all locations, property taxes vary, so you would have to give an idea of what taxes are on properties you might have seen.
0 votes Thank Flag Link Tue Jan 5, 2010
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