Terry Kahl, Home Owner in Chippewa Falls, WI

how much would the monthly payment be on a 224,00 home?

Asked by Terry Kahl, Chippewa Falls, WI Fri Aug 19, 2011

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5
Hello Terry

I was wondering if you were still in the process of searching for a home, if so I would be happy to help you with any questions you may have
0 votes Thank Flag Link Thu Jan 26, 2012
Terry,

It doesn't represent the complete payment, but a rule of thumb for your principal and interest portion would be that for every $10K borrowed on a 30-year term at 4.5%, your payment would be approximately $50. So a $200,000 loan has a principal and interest payment of $1013, for example.

If you need a more specific calculation, just get in touch.

Rob Spinosa
rspinosa@rpm-mtg.com
0 votes Thank Flag Link Fri Aug 19, 2011
Lots of variables but if you're looking for ballpark figures here are some that will be darned close.
20 yr fixed Prin + Int = $ 1375/mo.
30 yr fixed Prin + Int = $ 1070/mo.
Homeowners Insurance approx. $ 60-$75/mo.
Taxes approx. $ 300/mo.
PMI - $100/mo. if needed
0 votes Thank Flag Link Fri Aug 19, 2011
And how much you put as a down payment.
0 votes Thank Flag Link Fri Aug 19, 2011
That will depend on the interest rate, taxes and insurance.

Jack Gillis, M.B.A., J.D.
Jack Gillis Realty Advisors
United Real Estate, Broker
5430 LBJ Freeway | Suite 280
Dallas, TX 75240
Cell: 214.718.4910
Email: Jack@JackGillisRealty.com
0 votes Thank Flag Link Fri Aug 19, 2011
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