If we assumming that you are using similar figures as this:
Sales Price $58,900
Down payment 3.5%
Down Payment Amount $2,062
Loan Amount (Principal) $56,839
Rate (Interest) 4.75%
Loan Years 30
Home Owner's Insurance 75
Taxes $111.91 ($58,900*.0019)
Mortgage Ins. Premiun $27.98 ((0.0057*Sales Price)/12
Total Subpayment ($139.89)
Total Payment ($511.38)
The payment is in parenthesis because in finance, parenthesis means negative numbers. A negative numbers means that the money is coming out of your pocket on a monthly basis and not into your pocket on a monthly basis. Remember that these figures are estimated values and there will be variations.
I can help you negotiate the terms of this property if you do not have a Real Estate Agent. I work in zip code 32824 where the property is located.
Let me know if I can be of assistance.
HouseStar Realty Group Inc.
Real Estate Broker
Certified SFR Short Sale and Foreclosure Resource
Office: 407.429.5243 | Cell: 407.301.3401 | Fax: 407.373.0064 | eFax: 407.264.6260
Main Office: 1033 Semoran Blvd Suite 245 | Casselberry, FL | 32707 USA
Branch Office: 13538 Village Park Suite 260 | Orlando, FL | 32837 USA
1. Interest rate
2. Loan term (30-year fixed, 15-year fixed, etc.)
3. Property taxes
4. Homeowners insurance
5. HOA/Condo Fee
6. Down payment
If you can let us know figures are being used for those, we can tell you if the $692/mo is accurate.