Home Buying in 31008>Question Details

Thomas Hortm…, Home Buyer in Byron, GA

Why does this site continue to erroneously show these $500mnth mortgage payments http://www.trulia.com/property/3082122254-337-Roy-Dr-Byron-GA-31008.

Asked by Thomas Hortman, Byron, GA Sat Dec 15, 2012

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The amount listed here is for principal and interest. This does not include taxes or insurance as not all loans will require you to pay these inside of the loan. The actual payment on a home like this if purchased with FHA financing with 3.5% down payment will be closer to $1400 per month.

If you are looking at FHA and 3.5% down payment, a very rough way to figure out your payment would be sales price divided by 120. Wondering how much you can afford to buy? Take what you want your monthly payment to be and multiple it by 120. i.e - if you want to keep your mortgage payment at $1000 per month, then 1000 x 120 = $120,000 purchase price.

Best of luck,

Brian Rayl
B&B Realty Group - Keller Williams Elite Dallas TX
214-601-4192
Brian@Rayl-Estate.com
http://finddallashomesforsale.com
0 votes Thank Flag Link Sun Dec 16, 2012
Hi Thomas,
I looked at the lisitng from your link and it indicated a $177,000 List Price. Right below the List Price, Trulia estimated a $793/month mortgage payment. I did not see $500/month inidcated anywhere on the page.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Sat Dec 15, 2012
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