Home Buying in Montana>Question Details

Kfingar, Home Buyer in Montana

if ii were buying a home and the purchase price was 177,000. and we put 100,000. down how much would our payments be on a 77,000. loan?????

Asked by Kfingar, Montana Fri May 21, 2010

approx.???????

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It would be a good idea to keep $3-5,000 in cash. That way when something goes wrong you can afford to repair it. That will make very little difference in monthly payment and could make it a lot easier on you if a furnace dies or some other repair comes up.
0 votes Thank Flag Link Fri May 21, 2010
Kfingar, your monthly payment will depend on the terms of your mortgage loan (APR, 15, 20, 30 yrs, etc..) You will be able to calculate an estimated $$ amount by visiting a website such as http://www.bankrate.com. That site includes calculators for any type of loan, and will help you to determine the monthly payment. Please keep in mind that their calculators will not include the cost of property taxes or insurance! Take these figures into account when planning your budget.
Example: $77,000 @ 5.25% for 15 years = $618.00 (excluding taxes and insurance).
Hope this helps!
0 votes Thank Flag Link Fri May 21, 2010
Your loan officer can best advise based on your mortgage package and interest rate.
0 votes Thank Flag Link Fri May 21, 2010
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