Home Buying in 94904>Question Details

Franny, Renter in 94904

What is the monthly payment for a 250K home, with 50K down, 30 year fixed mortgage at 4% interest, including principal, interest, taxes and insurance?

Asked by Franny, 94904 Sat Dec 25, 2010

Help the community by answering this question:

Answers

8
$1,200 which is $950 prin + interest plus property taxes on $250k at 1.2% (on the high side)
0 votes Thank Flag Link Fri May 11, 2012
Hi Franny,

Each county, city and subdivision has different tax rate, different special assessment and some minor fee which is not base on your property assessor's value.

Can insurance on all the 250K properties be the same? And how about the coverage you select? IP or PR?

Yes, maybe, you just need a rough amount for your financial plan but how rough?

Andy
0 votes Thank Flag Link Fri Sep 16, 2011
Hi Franny:

About $1400 worst case but you can always get in touch with your Bank Loan Manager.
Hopefully not a Condo. otherwise you have to factor in HOA dues and banks will loan you
up to every 45 cents on the dollar if your credit is good.

Good luck.
Perry
0 votes Thank Flag Link Sat Dec 25, 2010
Franny;
I live & work in the 94901 area if I can be of help. but correct as rates and terms have cahnged talk to a local loan broker for th emost accurate numbers which depends on your credit score. Realistically you woudl be very lucky to get a 4% interest rate on a 30 year fixed, so check this. Yes your PITI is about $955 per month with Hazard Ins & Taxes an extra $271 per month so about $1226 per month.

http://www.trulia.com/mortgage-calculators/03/mortgage-payments/


See attached link for your own Estimates, based on being able to qualify if its a house or Condo?
good luck, Let me know if you need additional help in the area. Nigel Faulkner .T 415 298 2485
Web Reference: http://www.Nigel4RE.com
0 votes Thank Flag Link Sat Dec 25, 2010
Thank you all for your responses. I will follow up as you suggested.
0 votes Thank Flag Link Sat Dec 25, 2010
For an accurate picture, consider asking your loan officer for a good faith estimate....as none of us knows your insurance costs, nor property/school taxes...
0 votes Thank Flag Link Sat Dec 25, 2010
Good Morning Franny;
In addition to what Tim said, you can contact a local lender who can not only provide you with your payments but also provide you with a Good Faith Estimate for your closing costs.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Sat Dec 25, 2010
The easy part is the principal & Interest which will cost you $955 each month. Now you need to add in the insurance and taxes and since you didn't tell us what those amount to I can't figure what they will be for you. Just add both together and divide by 12 then add that to the $955 for your PITI monthly payment amount.
0 votes Thank Flag Link Sat Dec 25, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer