Since it appears you have already received the answer to your question, may I extend my services
should you need any further assistance with real estate. Thanks
Licensed Realtor in GA and NJ
Better Homes and Gardens Real Estate Metrobrokers
- Down Payment
- Home Owner's Insurance
- Mortgage Insurance (if downpayment is
The best place for you to start is by contacting a mortgage lender and get pre-quaified for a mortgage. Then you know what you qualify for when you start your home search. Also, find a great real estate agent that will help you find your dream home and guide you through the process.
Let's say you are borrowing $306,000.00 for 30 years with an interest rate of 5.000%. If the value of your home is $300,000.00, your property taxes are $3,000.00 per year and your insurance is $1,500.00 per year, you can expect to be making a total payment of $2,145.17. This is because you need to pay $1,642.67 toward the actual loan, plus $250.00 for real estate taxes and $125 towards insurance.