Property Q&A in Ossining>Question Details

madhurita.06, Home Buyer in Ossining, NY

What will be the morgage for 30 yeras?

Asked by madhurita.06, Ossining, NY Tue Mar 6, 2012

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What I always tell my customers to use as a guideline when trying to figure out what your payments are is the following: at a 5% rate, every $100,000 you borrow is about a $500 mortgage payment. The rates are below 5 right now, so it will be slightly less but it is a good guideline to try and get a picture of what you have to pay.

If you should have any further questions, please feel free to give me a call.

You can search like an agent with the below link and also use the mortgage calculator at the bottom of the webpage.

Thanking you in advance for your attention to this matter.

AnneMarie Encarnacao, SFR, REO
Century 21 Schneider Realty
0 votes Thank Flag Link Tue Mar 6, 2012
Hello. There are many types of mortgages. A good mortgage person will be able to explain to you how they work, and which one is best for you. The rate will depend, among other things, on the size of the loan, your credit history and score, the property to be mortgaged, the amount of equity in the transaction, and other factors. If you need the name of a great mortgage consultant, I have one, and she is terrific.
0 votes Thank Flag Link Tue Mar 6, 2012
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously; therefore if you haven't done so yet, do visit with any licensed loan officer. As to what the mortgage will be will depnd on the type of loan, how much, how much down, etc.
0 votes Thank Flag Link Tue Mar 6, 2012
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